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The Real Reason Why Artists Like Prince And Aretha Franklin Die Without A Will

By Daniel Scott
Daniel Scott

As if the death of the Queen of Soul was not tragic enough, then came the news that Aretha Franklin died without a will. How could this happen, again? Franklin did not die suddenly or unexpectedly -- she was 76 years old and her health had been declining for some time. Further, another music icon, Prince, died only two years earlier without having any will or estate plan, and his estate has been a mess ever since. Shouldn't she have learned her lesson and prioritized getting her affairs in order?

The reality is, there is a long list of famous people who died without having a will, and a recent study shows that 60% of all Americans currently do not have wills. Why? Some will say that the reason is simply that artists do not want to think about their deaths, that they feel a sense of immortality, and that in terms of priorities, planning for death is just not at the top of the list and feels like it can always be taken care of tomorrow. While there is some truth to these assertions, the problem is actually much more complex. In fact, the real reason why artists like Prince and Franklin die without wills has less to do with the artists failing to act and more to do with how we -- legal, tax and financial experts, as well as other professional advisors -- are addressing the issue. To see the three things "we" are doing wrong, visit: https://www.forbes.com/sites/danielscott1/2018/08/29/the-real-reason-why-artists-like-prince-and-aretha-franklin-die-without-a-will/#7e41b9597c05

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This page contains a single entry from the blog posted on September 4, 2018 11:46 AM.

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