Where There’s No Will, There’s No Way
Have you ever wondered what happens when someone passes away without a Will? How often do people pass away without a Will? Do people from all financial backgrounds die without a Will? Before all the above questions are answered, it’s important to understand the terminology surrounding Wills. If someone passes away without a Will, they died “Intestate”. This means the courts will need to appoint a representative to manage the decedent’s estate during administration because no one was appointed as an executor. Intestate is not exclusive based on one’s finances, rather, it can occur with anyone who has not planned ahead.
Celebrities are Not Immune to Intestate
Celebrities are expected to have more assets than the average person given the lucrative nature of their industries. These assets may include more substantial bank accounts, flashy cars, large properties, and expensive jewelry. Death does not discriminate based on assets, and in fact, when a celebrity passes away, their estate will be evaluated the same way as every other citizen. This includes locating a Will, or other estate planning documents. In the absence of a Will, the decedent will be determined to have died intestate, and the estate will go through probate. The list below reveals some celebrities who died without a Will.
Notable Celebrities:
- Prince
- Aretha Franklin
- Amy Winehouse
- Jimi Hendrix
- Heath Ledger
- Pablo Picasso
- Abraham Lincoln
- Martin Luther King, Jr.
Preparing For Your Future
What do these celebrities have in common? They did not plan ahead, which led to a mess of settling the estate in the probate courts. For some of the celebrities above, there were disputes from family members who claimed their own right to the estate, which led to years of court cases to sort out the assets. Death can be unexpected, but this is precisely why you should plan ahead!
Planning ahead and speaking with an experienced estate planning attorney is the first step to preparing for the unexpected future. After all, you have worked your entire life to accumulate assets and build the life you want to pass on to your loved ones. So why would you not want to plan ahead? To learn more about preparing for your future, please schedule a consultation with our firm!