Home|The Paradigm Philosophy|Investment Advisory Services|Account Center|NEWS|Contact

Financial Briefs

More Articles  Printer Friendly Version

 

Another Member Of Music Royalty Dies With No Will

Legendary singer, Aretha Franklin succumbed to pancreatic cancer at the age of 76 on August 16, 2018, and she was accorded funeral rites reserved for music royalty. At once humble and a diva, the Queen of Soul, who famously demanded respect, sadly died without a will.

Her estate is subject to probate, a long-drawn out public legal proceeding to hear claims by her four children and other relatives — an undignified end for music royalty.

While Ms. Franklin was a genius by most measures and her music legacy lives on, she appears to have had a blind spot when it came to money and, perhaps, mortality. A minister's daughter, Ms. Franklin was known to demand payment in cash before performing live and would keep the cash near her onstage.

It's not uncommon for probate proceedings to result in public family infighting and stupid legal fees; music rights heighten the stakes avariciously. Prince, who died in 2016 without a will, reportedly led to bitter family disputes and revocation of a multimillion-dollar music deal.

Instead of leaving a legacy defined on her own terms, Ms. Franklin's family is subject to a public probate proceeding, which can turn ugly.

If you don't have a will, are unsure about what to do, or think you may have a blind spot around dealing with money or planning beyond your life, please call and let us try to help you.


Email this article to a friend


Index
The Truth About U.S. GDP Growth
Sidestepping New Limits On Charitable Donations
Paying Off A Mortgage And The New Tax Code
Key Facts On Deducting Medical Expenses
Reduce Your Widow's Tax Bill Materially Annually
Ten Things About 10-Year U.S. Stock Market Performance
Your Alma Mater Or Your Family?
Qualifying For The New Business Owner Tax Break
This Is Not Your Parents' Interest Rate Cycle
Life Is Fragile, So, Please, Value Each Day As Priceless
If Family Is Wealth, Then Planning Is Immortality
Everything You've Learned About Interest Rates May Be Wrong
This First Year Under The New Law Requires Planning
10 Years After The Great Recession
The Interest Rate Inflection Point And Your Portfolio

This article was written by a professional financial journalist for Paradigm Consulting, Inc. and is not intended as legal or investment advice.

©2018 Advisor Products Inc. All Rights Reserved.
© 2018 Paradigm Consulting, Inc. | 133 Business Park Drive, Utica, NY 13502 | All rights reserved
P: 315-797-8400 x235 | F: 315-797-8403 information@paradigmci.com |
Disclosure | Privacy Policy | Contact Us

Securities offered through Royal Alliance Associates, Inc. Member FINRA/SIPC and a Registered Investment Advisor. Investment advisory and insurance services offered through Paradigm Consulting, Inc., a Registered Investment Advisor not affiliated with Royal Alliance Associates, Inc. Additional advisory services offered by Amy Mielnicki and Laurie Ann Schoen through Royal Alliance Associates, Inc.

Paradigm Consulting, Incorporated and Paradigm Benefits are separate entities.  Paradigm Benefits is not affiliated with Royal Alliance Associates, Inc.

This communication is strictly intended for individuals residing in the states of AL, AZ, CA, CT, DE, FL, IL, KS, KY, LA, MA, MD, MI, MO, MS, NC, NJ, NV, NY, OH, OK, OR, PA, SC, TN, TX, VA, WA and WI. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Please review Important Disclosure Information