There have been some very interesting high profile estate cases lately, and this article will highlight a few that have been in the news. They show the importance of estate planning and also good communication with loved ones.
Prince’s estate is finally settled after 6 years.
- Prince did not leave a will, which lead to a legal battle over his estate.
- Prince’s lawyer, L. Londell McMillan, is quoted as saying that he is “relieved and thrilled to finally be done with the Probate Court system and bankers who do not know the music business and did not know Prince.”
- The Estate was valued at 156.4 million dollars.
- A Minnesota judge has approved a deal that will divide the estate evenly between two legal entities, one of which is controlled by Prince’s half siblings
- Read the full story here:
Country singer, Naomi Judd left her daughters out her will.
- Naomi Judd, of the Grammy-winning duo, the Judds, died at 76 of suicide.
- The Judds were soon to be inducted into the Country Music Hall of Fame at the time of her death.
- The country music singer named her husband as executor of the estate with full authority and discretion to do as he sees fit with the estate.
- Read the full story here: https://www.nbcnews.com/pop-culture/pop-culture-news/naomi-judd-left-daughters-wynonna-ashley-will-rcna41148
The Estate of Michael Jackson has made $2 B in 13 years since his death
- As reported by the Sun, Michael Jackson’s estate has made 2 billion dollars in the years since his death, despite being homeless in some of his final months.
- What is the reason for the turn around? Recall that at the time of Michael Jacksons death, Neverland was facing foreclosure. As per estate lawyer Jeryll S. Cohen: “The Executors have been able to create exceptional and unique opportunities that did not exist at the time of Michael Jackson’s death to generate substantial revenue…”
- Read the full story here: https://www.the-sun.com/entertainment/5666942/michael-jacksons-estate-made-2b-death-homeless/
Consult the Law Office of David Knecht
The mishaps and successes of the rich and famous highlight the need for proper estate planning when many assets are involved, but estate planning is also important for the average person who wants to make sure that their loved ones know their wishes and properly divide what they leave behind. If you are interested in getting started on an estate plan, or if you need help updating an existing plan, please contact the Law Office of David Knecht at 707-451-4502. We have extensive experience in estate planning and can help you make decisions that are right for your loved ones and you.
