Aretha Franklin reportedly died without a Will, leaving no plans for her multimillion pound estate.
The Queen of Soul, Aretha Franklin, died at the age of 76 and according to reports, she did not leave a Will. After a near six decades in the spotlight and an on-going battle with pancreatic cancer, Aretha passed away at her home in Detroit on Thursday the 16th of August. The iconic singer was the first woman inducted into the Rock & Roll Hall of Fame in 1987 and during her 76 years she earned 18 Grammy Awards, released many popular hits such as “Respect” and “I Say a Little Prayer”, and sold more than 75 million records across the world.
Aretha’s estate is estimated to be worth around £62 million which may be deemed intestate because no Will has yet been found. The singer was twice divorced and did not remarry, resulting in her multimillion pound estate being split evenly between her four surviving children; Clarence Franklin, 63, Edward Franklin, 61, Ted White Jr, 54, and Kecalf Cunningham, 48, in accordance to Michigan state law.
The likely absence of a Will has shocked many in the light of Aretha’s wealth and circumstances. The iconic singer’s decision to not create a Will before she died could prompt a court battle over her assets by creditors or extended family members seeking a portion of her estate.
Regardless of wealth, age or health, it is crucial that people understand the importance of planning ahead. The rules of intestacy will divide your estate in a pre-determined way and, regardless of your relations, it could result in your assets being distributed to family members that you would not have chosen to inherit from your estate. Keeping a Will is the only way to ensure you retain control of your decisions and your estate is distributed in a way that reflects your wishes.
Get in touch for more information on planning ahead and keeping a Will.