Posted on 09/02/2018 4:24:47 PM PDT by NRx
Aretha Franklin, who died last month at the age of 76, did not leave a will. Her four sons and other family members are thus left to find out how much the Queen of Soul was worth, and to divide it up. The process could take years and is likely to play out in public.
Estate law experts expressed surprise but not shock that a wealthy person like Franklin would put off a will until it was too late. One of the singers attorneys said he urged her repeatedly to draft one.
I tried to convince her that she should do not just a will but a trust while she was still alive, says Don Wilson, a Los Angeles lawyer who worked for Franklin for nearly 30 years. She never told me, No, I dont want to do one. She understood the need. It just didnt seem to be something she got around to.
Papers filed in Michigans Oakland county court last week by David J Bennett, the lawyer who worked most closely with Franklin, lay out the few known basics. She was not married and left four sons, aged 48 to 63: Clarence Franklin, Edward Franklin, Kecalf Franklin and Ted White Jr. Clarence, Arethas eldest, is incapacitated and represented by a guardian.
A niece has accepted the role of executor. Under Michigan law, as in most states, the sons will equally divide their mothers assets in the absence of a will. So far no sign of conflict has emerged.
(Excerpt) Read more at theguardian.com ...
Because she is “independent” of the 4 sons???
Some people just don’t ever want to confront the fact of their own mortality. They may joke about it, but do not want to take actions that would validate that fact. For some, taking pen in hand to authorize the set up a trust or creation of a will is the same as ‘signing their own death warrant.’ I have many people on one side of my family who are just this way.
That was the family culture they grew up with, where certain issues are not casually discussed until absolutely necessary. Once I asked my Dad if he already had a will; his eyes narrowed and his brow creased as he said “Why do YOU want to know THAT?” I could see there was no right answer, only resistance, cynicism and resentment.
So I apologized for upsetting him and changed the topic. We never again discussed it. In my mind, my eyes were rolling in exasperation. Whew! Never mind, never mind!. Forget I ever bought it up!”
I’ll bet she wanted to give all money to the Clinton Foundation...
Nobody else wanted it? Or they agreed that she was most competent/unbiased.
“I wonder if she just didnt trust the legal system.”
Well, can you blame her? I certainly don’t trust the legal
system and I have nothing compared to what she had. My wife will probably have to go to Rent-a-Casket, then find something more suitable (cheaper) later. I have an box that the new hot water tank came in - should be a pretty good fit. :o)
“It goes by statute. No big deal.”
Every state has its own rules of inheritance in this situation, and your state’s rules might not accord with your wishes. That’s why its important to designate beneficiaries in all financial accounts and have a current will, power of attorney, and medical directive.
My parents were the exact opposite, always trying to tell us about trusts and insurance and all that, which I found uncomfortable and never focused on whatever they were saying.
The state usually takes a large chunk if one dies intestate then the family has to pay probate costs in addition. AFTER that the family divides but has to pay estate taxes.
Not a condition for appointment.
Wow. That is some interesting math.
It shouldn't even qualify for discussion on this forum.
So Sharpton couldnt buy her one from LegalZoom?
No will. Dumb move. This will get expensive.
She was sick for a long time, was in her 70s and knew she didnt have long. She had 4 sons, one with special needs who will need to be looked after the rest of his life, yet she couldnt be bothered to set up a trust fund for her family from her $80 million estate. She did, however, manage to plan an extravagant week long home going where she had 3 public viewings with a costume change each day including fresh manicures everyday, a concert the night before her funeral in an outdoor venue on the river in downtown Detroit, and a funeral procession with a hundred pink Cadillacs. Talk about priorities. The sons have filed an interested party suit with the courts. I hope theres something left for them when its all over, especially for the special needs son.
Chain of fools
Jim Morrison too. That was s real mess.
It might also be that she set up trust funds for each of her children.....years ago and it’s just her personal estate left.
Aretha was supposedly worth $80M. So a lot of money will unnecessarily go to lawyers because of her laziness or lack of foresight. In any event those four sons will still end up with plenty of money that they did not work for.
There probably is one since he sounds like he already has a guardian.
Probably has a special talent....like maybe she’s an attorney...or had taken care of her for some time.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.