Aretha Franklin, music icon, passed away from pancreatic cancer in 2018 at age 76. A legal battle over her estate began on July 10, with her sons debating which of two handwritten wills was legal. On Tuesday, a jury declared that the 2014 will, found in a notebook under a cushion of a couch, is the rightful one. Handwritten wills, also known as "holographic" wills, are acceptable in certain states such as Michigan, Franklin's home.
Examples of celebrities who died without a will, such as Bob Marley, Prince, Howard Hughes, Pablo Picasso, Jimi Hendrix and Abraham Lincoln, can be found throughout history. The recent dispute over Aretha Franklin's estate serves as a reminder to all - famous or not - of the importance of having a formal estate plan. A Michigan jury ruled the 2014 will found in a notebook beneath a sofa cushion valid, prompting Richard Behrendt, an estate planner from Mequon, Wisconsin to say, "Everybody should have either a will or a trust. Otherwise, state law will dictate where your property goes, but it might not be where you wanted it to go."
Franklin's passing without a formal, typewritten will means she died intestate. This means that each state's laws would be used to determine how her estate's property is divided. Consequently, two handwritten wills--one dated in 2010 and another in 2014--were discovered in her Detroit home after her death from pancreatic cancer in 2018. These documents detail Franklin's wishes for her property and assets, as well as nominee a legal guardian for her minor children and an executor to make sure her wishes are carried out.
A notebook was the location of the 2014 will and a locked cabinet hosted the 2010 document. Franklin, aged 76, was survived by four sons. Ted White II held the view that the 2010 will should dictate the estate, whereas Kecalf Franklin and Edward Franklin were in favor of following the 2014 version. Distinctive differences between the two documents become apparent once looked into - the 2014 upped the main home in Bloomfield Hills worth $1.1 million upon Franklin's passing to Kecalf Franklin and grandchildren, while the 2010 version distributed it equally between White and Kecalf Franklin. Both wills seemed to agree that income from music and copyrights be shared among the sons.
In Michigan and other states, handwritten wills, or holographic wills, are considered valid if they meet certain criteria, according to Charlie Douglas, president of HH Legacy Investments in Atlanta. Generally, newer wills take precedence over older ones, Douglas noted. Dave Behrendt, a lawyer, warned of the potential disastrous consequences of creating a do-it-yourself will. He remarked, "This [situation] will be discussed in law schools across the country" and advised against trying to put together a will on a note pad.
In certain situations, a will may be replaced, explained Douglas. This can be the case when it comes to designating beneficiaries on retirement accounts. Additionally, if a decedent owns property through a joint tenancy with two or more people, the surviving spouse automatically inherits the property, regardless of the will's contents, Douglas noted. As an illustration of this, suppose a married couple holds an investment account jointly. In this case, the will's language is not respected and instead the surviving spouse will take possession of the account.
Douglas stated that it's important to examine how your assets are titled, as the will may or may not manage them. During a probate process, the will and its contents are made public information, noted Behrendt. Individuals with wealth or celebrities who want to keep the details of their estate plan confidential may want to use a trust as an option, said Behrendt. He further clarified that utilizing a revocable trust is equivalent to a will, however, it will allow you to avoid the court process.
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