Lessons from Death: Prince Rogers Nelson

By Steven Latterell, Ice Miller LLP

As we've arrived at the six-year anniversary of the death of Prince Rogers Nelson, there are many lessons to be taken from his life and death. Perhaps two of the most salient lessons are:

1. Have a hidden talent. Prince obviously had many musical gifts, but one of his most memorable traits was his seemingly little-known ping pong abilities. Hidden talents make for great stories. Read more.
2. Have an estate plan. No matter how large or small an estate might be, a proper amount of estate planning during an individual’s life can often diminish the difficulties and expenses that the personal representative (i.e. executor) and beneficiaries might encounter during the estate administration process. Among other things, such an estate plan should ideally include a will and revocable trust and an analysis of the individual’s assets, how much those assets are worth and how they will be distributed when the individual passes away. While Prince did have a hidden talent, he, unfortunately, did not have an estate plan, which was one of the multiple factors that led to the elongated and very expensive nature of his estate administration. Read more.

This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader should consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.

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