Sixty-four percent of us don’t have a Will.
Neither did these famous people who have died:
- Jimi Hendrix
- Abraham Lincoln
- Bob Marley
- Howard Hughes
- James Brown
- Martin Luther King, Jr.
- Tupac Shakur
- Stieg Larson
- Steve McNair
Some of their estates took years to settle and cost millions of dollars in legal fees. Worse, they lost the chance to avoid or lessen estate taxes (not only will Prince’s estate owe millions in Federal estate tax, it will also owe a 14% state estate tax because he had the lack of foresight to die in Minnesota).
What else did they lose? The opportunity to choose their beneficiaries . The right to decide who would manage their estate (the executor). The prospect of avoiding a public circus during the probate process.
How could someone be so successful and yet so oblivious?
Most people (60%) who don’t have a Will say they just haven’t gotten around to making one. Some people (27%) say that it isn’t urgent.
Prince was 57 when he died. Abraham Lincoln was 56. Picasso was 91. McNair was 36.
There wasn’t time to make a Will? It wasn’t urgent?
You decide if you want to be on the “died without a Will” list.
Hammerle Finley Law Firm. Give us a call. We can help.