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September 2018 Archives

Young rapper reportedly had his estate in order when he died

As we discussed in a recent post, Aretha Franklin, despite her considerable wealth, age and poor health, died without an estate plan in place. It might be surprising, then, to learn that when 26-year-old rapper Mac Miller died earlier this month, he had an estate plan. In fact, it was reportedly similar to the one Michael Jackson had when he died in 2009.

Is adding a family member to your deed a good idea?

Many people who are seeking ways to simplify things for their loved ones after they're gone consider adding one or more of their children or other family members to the deed to their home. If you add an adult child, for example, to your deed, they become a co-owner of the property while you're alive. They can then inherit it when you die, and it doesn't need to go through probate.

How can you prevent family conflicts over your estate?

No one wants their family to fight over their assets after they're gone. However, even when there's an estate plan in place, family members and other beneficiaries (or people who believe they were left out) may try to dispute the will and other documents in court.

The 'Queen of Soul' reportedly died with no estate plan

Most people would assume that someone as wealthy and successful as Aretha Franklin would have had a detailed estate plan in place when she passed away recently. However, the "Queen of Soul" reportedly died without even a will — let alone any other documents detailing how she wanted her assets divided among her family and others.

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