In August 2018, music legend, Aretha Franklin, died of pancreatic cancer. At her death, her estate was worth over $80 million and it appeared that she died without a will or trust. (We wrote about this in this article here.)
Recently, we learned that three handwritten wills were found in her home. The latest one is dated March 2014 and it was found inside a spiral notebook, under cushions. The document appears to give the famous singer’s assets to family members. However, the writing is difficult to decipher and there are words scratched out and notes scribbled in the margins.
It is unclear if this is a valid will under Michigan law. A court hearing is scheduled next month to determine the validity of that document.
Even if the Court determines that the will is valid, there’s still the issue of federal taxes. The Internal Revenue Service is auditing many years of Franklin’s tax returns, according to the estate. It filed a claim in December for more than $6 million in taxes.
Ms. Franklin’s family remains hopeful that wise choices can be made on behalf of her rich legacy, her family and her estate. Sadly, we may never know what her wishes were.
This article is a service of attorney Myrna Serrano Setty. Myrna doesn’t just draft documents. She ensures you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why Myrna offers a Planning Session, during which you’ll get more financially organized than you’ve ever been before, and make all the best choices for the people you love. Begin by calling our office today to schedule a Planning Session. Mention this article to find out how to get this $500 session at no charge.