No Estate Plan?
In the short time since Aretha Franklin’s passing, the consequences of her not planning her estate have already materialized.
Firstly, her funeral was delayed. An estate plan would have included specific instructions to her loved ones on how to handle her funeral arrangements.
Also, Franklin’s sons have already filed documents with the Probate Court in Michigan. If Franklin had an estate plan, her sons would have been able to avoid probate court, which would have saved them a considerable amount of time and money.
Having an estate plan would have also allowed her family to keep her estate matters private, which can be particularly important given her celebrity status. Eventually, her financial matters will be exposed and made public information.
Aretha Franklin is just one of many celebrities who died without an estate plan. Others include, Prince, James Brown, Jimi Hendrix, Amy Winehouse, and the list goes on.
The families of all of these celebrities suffered negative consequences of their loved one dying with no estate plan. Some of them will continue to deal with issues surrounding the estate for years to come, as settling issues through probate court is a lengthy process.
To learn how to protect your estate and your family, please join us at one of our free seminars.