MUSICIAN PRINCE'S ESTATE IS A MESS. DON'T LET IT HAPPEN TO YOU

The musician Prince passed away just over two years ago - 21 April 2016. He died unexpectedly at only 57 years old, and did not have a Will. Two years on and his estate is still a mess, as the New Zealand Herald reports in their recent article (link below). He left an estate worth between $100,000,000 and $300,000,000 of cars, real estate, shares and other things.  Within three weeks of his death 700 people claimed to be related to him. As the Herald reports, there are many controversial decisions that have been made since Prince’s death, which no one knows if he would have wanted.

http://www.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=12035748

While most people are not as high profile as Prince, most of us have an idea of what we would and wouldn’t want to happen if we were to die. At ASCO Legal we have seen what happens when people died intestate (without a Will). As in Prince’s case, it is not pretty and it is expensive – even if there is no fighting within the family. It doesn’t matter how much or how little you have, the first and very important thing that a Will does is put a simple process in place for tidying up a person’s affairs if something bad happens to them.  What happens to the person’s belongings is highly important too, regardless of whether they have many or few, but that is only the second part of what a Will does, not the first.

Things happen unexpectedly, whether people are young or old, fit or well, so it is very important to officially document what you want today so you have something in place:  it is easy and cheap to update your Will, or in part in the future as things change. Let us help you. Give us a call today to confidentially discuss your wishes.

This is not a substitute for detailed legal advice as every individual situation differs, and also government policies, laws and general conditions constantly change. We are happy to assist anyone who wishes to obtain more detailed advice or information on these or other matters.