It has been widely reported in the news this week that the family of Prince are facing the prospect of a lengthy Court process after it was revealed that the singer did not leave a Will.
Prince died last Thursday at his estate in Minneapolis, aged 57. No cause of death has yet been released.
Prince’s sister and only surviving full sibling, Tyka Nelson has filed paperwork asking a Minneapolis probate court to appoint a special administrator to oversee the singer’s estate. In her paperwork, she has claimed that immediate action is needed to protect Prince’s business interests.
Download sales have rocketed since Prince’s death, and with a reported $27 million in property, Nelson and Prince’s half siblings could stand to inherit a fortune. The most recent estimate of the stars fortune is $150 million.
Prince was reportedly afraid of making a Will due to a fear of being ‘screwed over’ by putting his signature on legal documents, after having problems with contracts in his younger years when he was an emerging star.
This case illustrates the importance of making a Will. It’s not unheard of, but it is unusual for someone of Prince’s status to die without making a Will, and its likely that his grieving family will now face a length court process.
Losing a loved one is one of the most difficult things that any of us will encounter, but the grieving process can be made harder when there is a dispute over an estate.
Many people think that making a Last Will and Testament is something you do only when you are old, and other people don’t ever consider writing a Will. However, everyone with property or any assets should make a Will to protect their assets and their loved ones.
A properly drawn up Will gives real peace of mind. You can make provisions for your partner and family, and know that your wishes will be carried out, and save surviving family members the anguish of having to go to court at a time when they are coming to terms with a death.
For more information or to enquire about our competitive rates for drafting wills, please do not hesitate to contact us.