Interest Groups

Another Simple Lesson From the Estate of Prince Rogers Nelson - Estate Planning and Administration News

Get the news you want the way you want it: click the RSS button in the right corner to add this feed to your RSS reader, or click here to subscribe to this content. By subscribing, you’ll find this news on your Member Account page, and the latest articles will be emailed to you in your customized IndyBar E-Bulletin e-newsletter.

Estate Planning and Administration News


Posted on: May 14, 2019

Intro by Steven R. Latterell, Ice Miller LLP

Not many estates have the financial magnitude and headline-grabbing storylines of rock and roll legend Prince Rogers Nelson’s estate. Yet, in some pretty simple respects, Prince’s estate is not so different than many other estates that estate planners deal with annually. In particular, his estate has highlighted the very simple precept that an estate without a will (and revocable trust) is likely to encounter confusion and additional costs through the administration process. A properly developed will and revocable trust that are coordinated with the testator’s assets can often avoid such unwanted results. In my experience, a decedent who avoided the estate planning process seems to ensure one thing – the decedent’s heirs will not do the same thing.

Read more.

If you would like to submit content or write an article for the Estate Planning & Administration Section, please email Kara Sikorski at ksikorski@indybar.org.

DID YOU KNOW?

Indianapolis Bar Association (IndyBar) est. 1878 | 4,536 Members (as of 2.11.21)