Oh Prince… can you please explain to me why you didn’t ever create your will? A man worth approximately $300 million, you should have at least given some thought to whom you wanted your money to go to. Did you want some go to charity? Or did you want it to be split amongst your sister and all of your half-siblings? I guess it doesn’t matter. The latter is what will likely happen under state law.
You were a savvy business man, and either reviewed yourself, or had your legal team review, numerous complex contracts and business deals. Did they never recommend that you have estate planning documents in place, too? Or did they beg and plead with you to take this step and you ignored their advice?
Was music so important to you that your forgot about adult responsibilities? Setting your family up for the very time consuming and emotional probate wasn’t a very kind last gift. Especially because they will all be forced very publicly in the spotlight for awhile. You may have relished that, but perhaps they won’t.
Hopefully your family will learn from your final mistake, and at the very least create their own will. But a trust would be even better- that way when they die their affairs won’t be bandied about on TMZ and CNN.
See Also:
