Updated: Jul 21
Aretha Franklin left no will. Here’s why you should plan for your death.
This post features a highly informative article that highlights the pitfalls of not having an estate plan. Legendary singer, Aretha Franklin, passed away without having a will, and this has left confusion on what will happen with her estate.
Of course, Franklin wouldn’t be the first person to forgo plans for her assets. Nearly 60 percent of U.S. adults don’t have a will, according to Caring.com.
While you might assume estate planning only applies to wealthy people, that’s not the case. An estate only refers to what you own: financial accounts, real estate and possessions.
Putting a plan in place for those assets helps ensure that upon your death, your wishes are carried out and that family squabbles don’t evolve into destroyed relationships.
In other words, it’s partly about making things easier for your loved ones during an already-difficult time.
To read the article, please click here.
When you die without a will — called “dying intestate” — the courts in your state determine where your assets go. A person who dies without a will valid in Washington State is said to be “intestate.” Such a person's property will, after his/her death, be distributed according to the intestacy statute (RCW 11.04. 015).
If you have no plan in place for your minor children and they are left parent-less, a judge gets to decide who will be their guardian.
It’s also important to name people to several key roles, including an executor of your will, and powers of attorney for both health care and your financial affairs if you become incapacitated while still living.
Disclaimer: The purpose of this post is to provide general information and a general understanding of the law, not to provide specific legal advice. By accessing this blog site you understand that there is no attorney-client relationship between you and Sekhon Law, PLLC. This post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.