Aretha Franklin dies leaving a fortune without a will. Despite having capable advisors, many wealthy people and celebrities don’t get around to taking care of even the most basic paperwork to maintain privacy and ensure their family is cared for appropriately.
Aretha Franklin died of pancreatic cancer on Thursday at age 76, leaving behind a legacy including iconic music and civil rights activism — and a reported fortune in the millions.
This recent news that Aretha Franklin died without a will is very sad. Her estimated 80 million dollar fortune will now likely be audited and litigated.
Unfortunately, a judge will decide how to divide the fortune, not Ms. Franklin, and will likely lead to much litigation and issues which could have been avoided.
It is the objective of the survivors of any deceased, whether it be Aretha Franklin or John Smith, to handle affairs as simply and quickly as you can. If you can avoid court proceedings, you want to do so.
Sometimes you just can’t. The larger the estate, the more public the figure, the greater the likelihood that there is going to be an issue, and they would have benefited much from a will.
If you would like to discuss a specific situation, please let me know. I look forward to hearing from you.