Prince comes to mind. Do you know who will inherit 40% of his Estate? The United States Federal Government. Not to mention the multitude of “Probate Practice Attorneys” representing all his relatives that will be crawling out of the woodwork.
All paid for from “The Estate of Prince.”
Now, don’t get me wrong, I don’t care and find it comical that a multi-millionaire has left such a mess.
The lawyers LOVE Prince.
Now the next time you blow off a Financial Consultant who is trying to help you get your financial affairs in order just remember if you don’t take care of business while alive a Probate Practice Attorney WILL after you’re dead for a big PHAT fee and there is nothing that can be done about it after you’re dead except to pay up.
Listen, just because a person has money, that does not mean they have any intelligence.
What would you like to bet Donald Trump has proper Estate Plans, a Revocable Trust, an Irrevocable Trust funded with life insurance to pay his Estate Tax bill, Pour Over Will, Durable Power of Attorney, Healthcare Surrogate and Living Will?
Tell me about your Estate Plans. OR show me your guarantee signed off by God that says you get to wake up tomorrow morning. Oh and one (1) more thing, even Jesus Christ himself didn’t get out of this life alive.
Harsh words? No. Facts of this life. After 31 years in the Financial Services Industry there isn’t a week go by that a client doesn’t die or become sick or hurt.
Now go take on the day.