PRINCE AND ESTATE PLANNING -- WHAT WE CAN LEARN
Prince and Estate Planning -- What We Can Learn
Prince passed away without any estate planning done. No trust or will. $300 million dollar estate.
We wanted to share this article with you from Forbes.com because whether you have $300 million dollars, $300,000, or just a house you want to pass along to your family -- probate is waiting. Prince was a unique situation because he did not have any children or a spouse. But I'm sure he had an idea where he wanted his assets to go -- and now, the court will be deciding for him.
The article states that 64% of Americans don't have a will, but the article does not state the importance of having a will with a trust. The entire package is absolutely necessary to avoid probate.
We invite you to discuss this with your family and use Prince's example as one we can all learn from.