Sonny Bono. Mr. Bono died after a skiing accident. He had no will, no trust. His estate was tied up in probate court for years. His second wife, Cher, filed a claim against the estate for $1.6 million for unpaid spousal support. A person who claimed to be an illegitimate child also filed a claim.
Jimi Hendrix. Mr. Hendrix was only 27 at the time of his death. He didn’t have an estate plan. His entire estate went to his father under intestate laws (state laws that say where a person’s estate goes if they do not have a plan). His $80 million legacy was subject to a 30-year court battle between his family and the state.
Aretha Franklin. Ms. Franklin passed away in 2018. Because she didn’t have a will or trusts, her sons fought in probate court over her nearly $80 million estate. She also had significant creditors who came forward to collect their debts. During the probate process, multiple handwritten wills were found in her home. The wills made unequal distributions between her sons, which resulted in a fight that caused the executor to quit. It may have better to have no will than incomplete handwritten wills.
Prince Rogers Nelson. The famous singer known as “Prince” died at 57. He had not executed even a basic will or trust. He passed away in April 2016. In April 2022, a Minnesota judge finally distributed his $156 million estate after years of litigation and fights among his six siblings and other potential heirs who filed claims against his estate, including a federal inmate who claimed to be his son. His estate had to pay millions in estate taxes. Prince may or may not have wanted his siblings to share his estate equally; we will never know. Executing a will or trust would have ensured that his wishes were honored.
Bob Marley. Mr. Marley didn’t have a will due to religious reasons. Many legal disputes over his estate have occurred since his death in 1981. Jamaican intestacy laws gave his spouse a 55% share of his estate, and the other 45% was split between his twelve children. Other court battles arose over his likeness, musical library, and other matters. Those conflicts included his family, bandmates, accountants, and even lawyers. The value of his estate decreased significantly because of all the legal fees and costs.
Pablo Picasso. Renowned artist Pablo Picasso made the mistake of having no plan at all. He died in 1971 and left an estate worth $173 million. Nothing stated what would happen to his assets, including his famous paintings. His estate incurred a large tax bill that required the sale of much of his artwork so that his estate could pay the taxes. Many lawsuits tied up his estate for years. Ultimately, the estate lost over $100 million in taxes and attorney fees.
Howard Hughes. It was well known that Mr. Hughes wanted to give his $2.5 billion fortune to medical research. Unfortunately, no valid will could be found after his death. Instead, his estate was divided between his 22 cousins. Before his death, he had gifted Hughes Aircraft Co. to the Hughes Medical Institute, and it was not included in the distributions to his cousins.
These stories are fun to read about but not fun to experience. If you want to ensure your loved ones don’t experience these expenses and fights, please call my office to schedule a free initial consultation to discuss your plan.