MW Estate Planning: Don't Do A Jimi Hendrix
A lot of people assume that making a Will is something you can leave till you’re older. The reality, though, is that none of us know when we’ll need a Will. A classic case is the musician Jimi Hendrix — a great guitarist, but not so good on managing his affairs.
Famously one of the “27 Club”, Hendrix died without a Will, even though his estate was not only worth a good deal but also quite complex, since it involved intellectual property. The lack of a Will meant that it took a couple of decades for the family to get control of the estate, and disputes still continue between his brother and adopted sister.
You might not be worth as much as Jimi Hendrix, but you could be storing up plenty of problems if you assume you can put off writing a Will.