The administrators of the late musician’s estate recently settled a complicated dispute with the Internal Revenue Service over the value of Prince’s assets. The precise value was undisclosed, however, although it could exceed $100 million.
Creating a list of digital accounts and instructions on how to gain access to them is now akin to having a traditional will or a trust in estate planning.
For more than a decade, Brown’s heirs and estate administrators, including Mr. Bauknight and Adele Pope, a former executor, have battled in court over the value of his estate.
If you’re planning to leave your heirs any sort of inheritance, you’re already giving them a valuable financial leg up.
Good estate planning must consider more than what you want to happen to your property and for your beneficiaries. It also must consider what you intentionally want to avoid happening.
There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to the children upon your passing, or selling the residence to your heirs.
Should the Royal family be an exception to the normal laws governing probate?
Losing your spouse is a painful, confusing time, but add to that repeated calls from an aggressive debt collector and a bad situation suddenly can get even worse.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
However, in a world where more and more of our personal information is stored online, it’s also imperative to make a digital estate plan, so your loved ones can access your digital property.
All fields marked with an “ * ” are required
