What do Tupac Shakur, Jimi Hendrix, Kurt Cobain, Amy Winehouse, Bob Marley, Steve McNair, Martin Luther King Jr., Stieg Larsson, Abraham Lincoln, Prince, Barry White, Sonny Bono, Howard Hughes, and Pablo Picasso have in common? They all died without a will, trust, or any estate plan in place.
- Tupac Shakur (25 years old) rap artist and actor
- Jimi Hendrix (27 years old) rock guitarist, singer, and songwriter
- Kurt Cobain (27 years old) singer/songwriter and frontman for Nirvana
- Amy Winehouse (27 years old) singer/songwriter
- Bob Marley (36 years old) singer/songwriter
- Steve McNair (36 years old) former NFL quarterback and Pro Bowler
- Martin Luther King Jr. (39 years old) civil rights leader and activist
- Stieg Larsson (50 years old) famous author
- Abraham Lincoln (56 years old) one of the most famous lawyers of our time and the sixteenth president of the United States
- Prince (57 years old) singer/songwriter
- Barry White (58 years old) entertainer
- Sonny Bono (62 years old) entertainer turned U.S. Congressman
- Howard Hughes (70 years old) entrepreneur and billionaire
- Pablo Picasso (91 years old) famous artist
Even though we know that we need to have estate planning in place, many people procrastinate and wait to do it “later” because we always think we have more time. But we really don’t know. We don’t know when we will die. We don’t like to think about or talk about death or what will happen to our families, loved ones, and assets after they are gone. The subject can be difficult and at times may seem confusing and depressing to discuss and dwell upon. However, establishing an individually tailored and comprehensive plan not only provides instructions stating who you want to receive your assets when you die, but also provides specific details about what they are to receive and when they are to receive it. An effective plan is comprehensive and will include these provisions while ensuring that the least amount of money is paid in taxes, legal fees, and court expenses while reducing to the greatest extent possible, the potential for court proceedings and delay.
If someone you know needs to talk with estate planning experts, forward this email to them! We would be happy to schedule a complimentary consultation with them to talk more about their unique situation.