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Strained relationships and failing to plan your estate.

 

Failing to plan your estate (e.g. make a will) can have severe consequences regarding how your assets are distributed after your death.  Take Prince’s death for example. Two months ago one of tne of the greatest musicians there ever was died suddenly and accidentally.  Shortly thereafter, news reports surfaced that Prince did not have a Will.  How could that be? How could Prince fail to have an estate plan? We may never know the answer to those questions, but what we do know is that as a result of his failure to plan his estate, his fortune will be split amongst his “legal” heirs – his siblings – some of whom he was reportedly estranged from.  And did you know that full siblings and half siblings are treated equally for purposes of divvying up an estate under the law.  Well they are.  Prince may have never intended to have some or all of his siblings inherit from him, but without a Will they are now entitled to a portion of his reported $110 Million estate.  Failing to plan your estate can have severe consequences. Don’t risk this happening to you.  Give us a call to establish your will and estate plan today.

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