Financial Briefs

More Articles  Printer Friendly Version

 
Featured News    Financial Briefs    Market Data Bank    Articles Of Interest    

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 Sattler Capital Management, LLC and is not intended as legal or investment advice.

©2023 Advisor Products Inc. All Rights Reserved.
© 2023 Sattler Capital Management, LLC | 9320 Wilshire Blvd, Suite 210, Beverly Hills, CA 90212 | All rights reserved
P: 310-593-0904 | F: 424-238-7277 | tsattler@sattlercapmgmt.com |
Disclosure | Contact Us | Home
Securities and advisory services offered through Royal Alliance Associates, Inc., member FINRA/SIPC and a registered investment adviser. Insurance services offered by Troy Sattler and tax services offered through Sattler & Associates, LLP are independent of Royal Alliance Associates, Inc. Sattler Capital Management, LLC is not affiliated with Royal Alliance or registered as a broker-dealer or investment advisor.

Representative(s) may not be registered to offer securities and advisory services in all states.