So we don’t all have estates worth hundreds of millions of dollars, but the point is the same.
Don’t die without a will.
Just because Prince did, does not mean you should do the same, regardless of the size of your estate.
Prince was married and divorced twice, and left six siblings, some of them half-siblings, surviving him. And now the law of Minnesota will determine who will receive his estate.
Is this what he wanted?
Who knows. And no one will unless a Will is located. Without a Will, Princes’ estate is likely to be shared equally between his siblings.
Is this fair? Are some more deserving than others? What about other persons, or even charities? What about his personal effects? Who did he want to be in charge as his executor?
Do you see what I’m getting at?
When you meet with a lawyer to get a Will prepared, these are the types of questions they will ask you. They’re not overly difficult, or intimidating, but they are important. Because if those questions aren’t asked now, they will be asked later. And by that time you won’t be the one answering.
Instead it’ll be your family and your friends (and your fans, if you’re a mega pop icon like Prince) that will be scratching their heads, wondering, worrying, and perhaps even, fighting.
Not that having a Will can prevent fighting. If people want to fight over your estate, they will. You can’t escape it, but having a Will is the best thing you can do to plan what happens after you’re gone. It also makes sure you have a trusted person in charge of managing your estate.
The law takes Wills very seriously. And so should you. (And Prince).
Just don’t leave it too late.