Famous people With No Will – And The Problems Once They Died

You might be surprised to hear that it isn’t just some of us “normal” people that have no Will. Oh no. Can you believe that some superstars with millions of pounds of assets have no Will? Seriously.

You would think with all the best legal advisers around them, someone would have said, “Come on mate, you’ve a few million in the bank now, six houses and 14 dogs. Hadn’t you better make a Will so you can make sure everything goes to Aunt Joan?”

There are many famous people who had no Will when they died but I want to focus on some that left problems behind because of it.

Prince

Prince is a recent example of an extremely wealthy individual who died without making a Will. The 57 year-old died without a spouse, children and surviving parents so his six siblings looked set to share his multi-million pound fortune, but apparently, his half-siblings are now contesting that they get a share, too.

Rik Mayall

Rik Mayall died in June 2014. He was a married parent who died with no Will, and according to the Telegraph, his £1.2m Estate will now face a hefty Inheritance Tax bill as the inheritance that goes to the children will exceed the £325,000 limit (assets up to £250,000 go to the spouse or civil partner. Assets above that limit are split 50/50 between the spouse and the children).

Had he made a Will, Rik could have ensured that his wife received all his Estate and no tax would need to be paid as the Spouse Exemption would apply.

Bob Marley and Barry White

Both Bob Marley and Barry White did not leave Wills to ensure their fortunes went to they wished. Both had several wives, girlfriends and children (no wonder they didn’t have time to make Wills!) and apparently there are squabbles over their legacies even today.

Jimi Hendrix

The conflict over Jimi Hendrix‘s Estate went on for longer than the rock legend was alive. Eventually, it was reported that the family dispute between Hendrix’s adopted sister and his brother over Hendrix’s Estate had been resolved in 2015. This heartache may never have happened had he made a Will.

Jill Dando

To illustrate just how much The Crown can and does receive from those who die with no Will, take the situation of Jill Dando. When Jill died in 1999, her £1.8m Estate went to her father. Under Intestacy rules, he had to pay £250,00 in Inheritance Tax. Had Jill married her fiance before her death, the tax on her inheritance would have been just £40,000 instead. However, had she made a Will, the tax on her Estate could have been negligible.

I don’t have anything like the wealth of a superstar, but when I die, I want my assets to go to my immediate family – and I don’t want them to go through any unnecessary heartbreak in trying to fight for what is rightfully theirs.

I hope I have shown you just how important making a Will is. Not only will you get to apportion your Estate to those who you want to, but you remove the possibility of untold hardship and years of squabbling between family members and friends. It really doesn’t matter how much wealth and how many assets you have – make sure you don’t die without a Will in place.