The world of entertainment suffered a significant blow recently when the legendary singer Whitney Houston passed away at the young age of 48.
There have been precious few entertainers who have enjoyed the type of success that Houston was able to generate with her immense vocal talents. She holds the industry record with seven consecutive number one singles and this is a mark that may be hard to beat. Whitney Houston won no less than six Grammy awards, and she took home a pair of Emmy awards as well.
We can learn a lot about the do’s and don’ts of estate planning when we hear about the way that celebrities planned their estates. There are many high profile cases where the rich and famous did not take the necessary steps to make their wishes known. On the other hand, some people, such as the British singer Amy Winehouse, did in fact pass away with ironclad estate plans in place.
The details of the Whitney Houston estate have not been made public as of yet but it is believed that her 18-year-old daughter Bobbi will be inheriting her resources. They are indeed considerable, and the value of her estate will increase dramatically as interest in her work is rekindled as people remember her greatness.
People do pass away before their time as this case will attest. If you do not have an estate plan in place, even if you have not yet celebrated your 50th birthday, take action right now to arrange for a consultation with a licensed Indianapolis estate planning lawyer.
Paul A. Kraft, Estate Planning Attorney
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
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