What Can We Learn About Prince From an Estate Planning Attorney?

April 21, 2016 the world lost a creative icon. The Purple Rain turned Grey. I remember when I went to my first drive-in movie with my aunt and her husband and I remember my heart beating fast for the very first time…

Death always seems to come too soon and according to Forbes.com half of Americans don’t have any of the most basic estate planning documents and majority are without a will. Statistical studies show that 55% of Americans die without a will or estate plan according the Americanbar.org.

What will happen to Prince’s Paisley Park estate in Minnesota?
Why are estate plans important?
Do you need an estate plan if you’re not married?
Do you need a will if you’re not married?
What is a living trust and why is it important?

I had my children in my 20s and one day when I was watching The Suze Orman Show she answered a question from a caller about a living trust. I immediately set one up for my family and purchased a life insurance policy.

Tragically a few years ago the aunt that raised me and took me to my first drive-in movie was violently murdered by her 2nd husband. They owned a business, 2 properties and had 5 children and the fate of the children was left up to the court. There was no life insurance, will, estate plan or trust.

Consumers online are searching for information that is educational, informative and relevant. Prince’s unfortunate death is a time when an estate planning attorney can record an educational video, transcribe the video and produce a short report that can help people protect their family and legacy. I already provided you with the questions you could answer in this post. What you do next is up to you.

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