The late musician Prince left behind a musical legacy. What he did not leave behind was a Will, which cost his legitimate heirs money and months of uncertainty when 30 other individual claims, including strangers claiming to be his long lost children, had to be adjudicated in court. What Prince might have wanted will never be known because he did not have a Will. It was the courts who decided who got what.
It’s true, Prince had a sizeable estate, but the size of the estate isn’t important: Prince should have had an estate plan including a Will — and so should you. Here’s why:
As Prince’s legitimate heirs unfortunately discovered, estate planning now avoids difficulties and costs later. To do it properly, you’ll need a lawyer and accountant, and an advisor who can harmonize your estate plan with your overall financial plan and keep everybody in tune with your wishes for your legacy.2 years ago
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