Colorado Probate Blog - Wade Ash Woods Hill & Farley, P.C.

1 minute reading time (177 words)

The Late Prince Rogers Nelson’s Intestacy Problem

That Prince died worth hundreds of millions of dollars without a Will is probably astounding to anyone who hears it. But it is not all that uncommon, even among the wealthy.

Passing without a Will (dying intestate) can be a serviceable estate plan for people who are satisfied with their property passing at death according to law. The preparation and execution of a Will may also be unimportant to those who expect their assets to pass outside of the probate process through careful planning, including the use of beneficiary designations and certain types of multi-party property ownership.

For a person like Prince, who apparently died unexpectedly and is survived by a sibling and several half-siblings, an intestate death may result in years, or even decades, of litigation.

Did Prince want his property to pass under the sterile laws of intestacy, or did this universally recognized artistic genius have something a bit more creative in mind. Sadly, we will never know (unless a mysterious Will emerges in the future - which is a whole other barrel of monkeys).

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Death, Taxes, and the Business of Dead Celebrities

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