Late last summer reports were circulating in the news about the estate of the late singer Amy Winehouse. It is no secret that Winehouse lived in the moment and it would be logical to assume that she might be an individual who did not have an estate plan in place.
However, we were told that she did in fact have a last will and that she was quite proactive about revising her financial plan after her divorce from her husband Blake Fielder-Civil.
Now Forbes is telling us that these early reports were incorrect. Probate records have become available, and it turns out that Amy Winehouse died intestate or without a will.
If you die without a will intestacy laws of succession will hold sway. In the case of Amy Winehouse, who was childless, her parents were legally in line to inherit her resources since there were no estate planning documents left behind.
We will never know if she would have wanted to leave anything to her former husband Fielder-Civil or her older brother Alex.
In case you’re curious, the Winehouse estate was actually worth less than many people were projecting. After final expenses were taken care of her state was reportedly valued at $4.66 million.
This case illustrates the importance of planning ahead for the future even if you are a young adult because you never know when your time will come, and this is especially important for people with children. If you are ready to state your wishes in a legally binding manner, pick up the phone right now to arrange for a consultation with a licensed and experienced Indianapolis estate planning lawyer.
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.