ESTATE PLANNING INSIGHTS By Ethan R. Okura
Just over two years ago, I wrote a column about Prince, the musical legend, and how he passed away without a will. I detailed some of the problems that his estate would face — and continues to face to this day — because he did not adequately prepare for the end of his life.
As of April 2018, Prince’s six heirs had not received one shiny penny. On the other hand, the bank acting as executor of Prince’s estate and its team of lawyers had already collected $5.9 million in fees and expenses — and had requested that the court approve awarding them at least $2.9 million more for their work on the case.
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