If you die without executing a last Will, you are said to have died intestate. In cases such as these, intestacy laws of succession come into play. The probate court will examine all relevant information and ultimately allow for your assets to be transferred to your legal next of kin.
A recent article that is appearing on the Forbes website states that the late British pop singer Amy Winehouse died without having executed a last Will.
This new revelation flies in the face of earlier reports that emanated from the British press. Shortly after the Grammy winning singer passed away, we were told that she in fact had an ironclad estate plan in place. However, probate records have been made available and the actual details are circulating.
She was originally thought to have an estate that was valued in the vicinity of $16 million. Now we are being told that after her final expenses were taken care of, $4.66 million remained. Her parents Mitch and Janis, who have been divorced for some time, are the heirs to the estate according to these laws of succession.
Whether or not Amy Winehouse would have wanted her parents to be her sole heirs is something that none of us will ever know. And, had she planned ahead with foresight it is possible that more of her wealth could have been preserved.
Few people would feel comfortable with the courts deciding how their resources are handled after they pass away. If you would like to avoid intestacy, take action right now to arrange an appointment to speak with a licensed, experienced Campbell CA estate planning lawyer.
- Act in Advance to Prevent a Conservatorship - April 27, 2021
- Beneficiary Designations and the SECURE Act: Prior Designations - April 20, 2021
- Beneficiary Designations and the SECURE Act: Eligible Designated Beneficiaries - April 16, 2021