Business
Nearly everyone has heard of the pop singer Prince. Purple Rain, When Doves Cry, 1999 – these were songs straight from the Pizza Hut jukebox. Prince died suddenly in the spring of 2016 – and he didn’t have an estate plan in place. He was relatively young at 57-years-old and had been quite wealthy for a long time. Of his $250 million estate, $100 million of it went to estate taxes. 40% of his fortune gone! The rest of the estate was distributed to the siblings he had relationships with, but also distributed to estranged siblings he probably wouldn’t have included. On this episode of Wealth from Wisdom, we’re going to talk through estate planning – how to shape your legacy while you’re still living and take care of those you love the most.