Estate planning is often put on the back-burner. Sometimes people never get around to it. However, planning ahead is important because doing so can save you thousands and thousands of dollars.
You have worked hard for your money and carefully managed your assets. So it makes sense that you want to find the right balance to maximize control and protection of your assets upon your death. Even if you think you don’t, everyone has an estate and it is important to choose the proper planning mechanism to ensure your assets are distributed according to your wishes in an effective and efficient manner.
Prince's lack of estate planning has led to many complex legal issues including determining the legendary musician's legal heirs. Resulting infighting between his legal heirs has resulted in issues ranging from appointment of an executor to suing a previously appointed executor for breach of fiduciary duties.
Aaron Hernandez' fall from NFL star to convicted murder came to a conclusion when he committed suicide in a Massachusetts prison on Wednesday morning. The timing of his death triggered the use of an archaic and rarely used legal principle that will essentially erase his conviction. This complicates any potential civil suit brought by his victim's estate as well as the distribution of his own estate.