Prince’s Estate Quandary: Not a Walk in Paisley Park

PrinceWhile the country still mourns the loss of music icon and pop superstar Prince, news reports continue to surface that there’s still no trace of his Will. While the search continues, the court has appointed Bremer Trust as special administrator during the proceeding.

Tyka Nelson, his sister, came forward with the original petition for the appointment of a special administrator for the estate and also listed five half-siblings as heirs which could further complicate things. In Minnesota, half-siblings are treated the same as full siblings which could turn the distribution of Prince’s assets and estate into a full blown family battle.

The goal of an estate plan is similar for most people: divvy up your stuff and give it to the people you love the most. But when blended families plan for their future an extra layer of complexities are added. Every state has different rules about the rights full and half siblings have in the probate process. Don’t you want to eliminate the risk of family drama after you’re gone?

The bottom line is whether you are a rich celebrity or an ordinary middle-class person; you have to create a Will to avoid chaos after you pass away. Creating a Will lets you plan ahead to protect and provide for the people you leave behind and serves as a guide so they can follow out your wishes. It’s important to talk to an attorney to create a plan that meets the needs of every unique family situation.

Other Famous People Who Died Without a Will

Many people find it hard to believe that Prince passed away without a Will, but according to a 2015 Rocket Lawyer Survey, 64% of the total American population doesn’t have a Will. The majority of the people surveyed confessed that they simply hadn’t found the time to create one. If you fall into this category, it’s probably a good idea to dedicate some time to protecting your assets. If not, important decisions will be left up to the law rather than in the hands of your loved ones.

Here are a few more celebrities who did not plan ahead:

  • Abraham Lincoln
  • Jimi Hendrix
  • Bob Marley
  • Howard Hughes
  • Pablo Picasso
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Law Offices of Debbie J. Cunningham

Debbie Cunningham is an Irving attorney providing affordable estate planning to the Dallas/ Fort-Worth areas. She understands the steps you should take to protect yourself and your loved ones. Debbie is family-focused and wants to ensure her clients are fully informed on the options that are available for their families. Debbie’s own blended family has given her valuable insights into the complexities of family dynamics.

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