Prince was a prolific song writer but it seems the one thing that he didn’t get round to writing was a Will. Court documents filed in Minnesota show the superstar who died untimely at the age of 57 appears to have died intestate. Certainly for a person of Prince’s wealth it is unusual and his surviving relatives are now left with the nightmare of sorting out his financial affairs.
Probably the reason Prince did not make a Will is because he did not think he would die so soon and that may be true for many people. There is also frequently an irrational fear that by making a Will clients are bringing on their own deaths. Superstition is extremely powerful but the prospect of what would happen to your family if you die without leaving a Will should be a more robust motivation.
With some forethought you can attend to your affairs now and not leave your loved ones facing the music. Indeed few of us go through life without changes in our circumstances. These are often pleasurable occasions like marriage, new homes, new jobs or the birth of children. Sometimes however, we are beset by unwelcome events like divorce, the death of someone close to us or redundancy for example. Change is something that cannot be ignored.
Planning for the future is not just for the wealthy. It is important for everyone, old and young, established or just starting out, whatever the state of your bank balance. Having a Will can make all the difference to your peace of mind.
So if you haven’t made a Will or need to update one then seize the day.
Having a review of your personal affairs with a member of our Private Client Department can be a place to start. If I can help in any way please contact Elizabeth Baker on 0141 552 3422 or by email eb@mitchells-roberton.co.uk