A recent article in Forbes is indicating that the initial reports regarding the Amy Winehouse estate were not accurate.
As you may recall, right after the tragic death of the young singer details about her estate were circulated. The newspapers over in Great Britain were saying that Winehouse had planned her estate wisely. This came as a surprise to many observers who assumed that a person who appeared to have lived in the moment such as Winehouse would not have taken such astute steps.
We are now hearing that those who assumed that Amy Winehouse had no estate plan may actually have been correct. The article that is appearing on the Forbes website cites probate records stating that Winehouse died intestate or without a will.
As a result, the estate of the childless, divorced British pop icon was handled under intestacy laws of succession. Her parents were her legal next of kin at the time of her death so they are reportedly the heirs to the Winehouse estate.
It should be noted that the value of the estate wound up being significantly less than original estimates of $16 million. After paying the outstanding debts we are told that the value of the estate was around $4.6 million.
Nobody will ever know exactly what Amy Winehouse would have wanted to do with her resources, and it is possible that more of her legacy could have been preserved with proper planning.
This case underscores why it is important to expect the best while preparing for all eventualities. If you do not currently have an estate plan in place, right now would be a good time to take action to set up a consultation with a good Central New Jersey estate planning lawyer.
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