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Kiplinger
Kiplinger
Business
Elaine Silvestrini

MYSTERIOUS: How to avoid aretha franklin and prince s estate planning errors | Mind Blowing Facts

Will with a pen

When James Brown died in 2006, his will left most of his estimated $100 million estate in a charitable trust that would fund scholarships for disadvantaged children. But because the estate became mired in litigation, no scholarships would be bestowed for at least 15 years.

Prince died in 2016 without a will, leaving his would-be heirs to battle for six years before reaching a settlement in August 2022 on how to divide his $156 million estate. Charities he supported during his life lost out.

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