Aretha Franklin, heralded as the “Queen of Soul,” died from pancreatic cancer at age 76 on August 16, 2018 at her home in Detroit. Like Prince, who died in 2016, Franklin was one of the greatest musicians of our time. Also like Prince, however, she died without a will or trust to pass on her multimillion-dollar estate.

Franklin’s lack of estate planning was a huge mistake that led to a years-long court battle and major expenses for her family. What’s especially unfortunate is that all of this trouble could have been easily prevented.

A common mistake
Such lack of estate planning is common. A 2024 survey by the senior-care referral service, Caring.com, revealed that only 32% of Americans have a will in place. The most common excuse given for not creating these documents was simply “not getting around to it.”

Whether or not Franklin’s case involved similar procrastination is unclear, but what is clear is that her estimated $80-million estate had to go through the often lengthy court process known as probate, her assets were made public, and there was a great deal of conflict among her family members.

Family problems

Such contentious court disputes are common with famous musicians. In Prince’s case, his estate has been subject to numerous family disputes since he died two years ago, and that even led to the revocation of a multimillion-dollar music contract. 

Franklin’s sons battled in court for years over two conflicting wills in which the artist’s assets were disposed of differently. To this day, conflict remains about how to handle the rights to Franklin’s musical assets.

Because these court battles are public, not only were the contents of  Franklin’s estate available for everyone to see, but her family’s potential squabbles were also the subject of news headlines. All of these things could’ve been prevented with a well-drafted and counseled estate plan. 

Learn from Franklin’s mistakes
Although Franklin’s situation is unfortunate, you can learn from her mistakes by beginning the estate planning process now. To keep everything private and out of court altogether, Franklin could’ve created a will and a trust. And, within a trust, she could have created a Special Needs Trust for her child who has special needs, thereby giving him full access to governmental support, plus supplemental support from her assets. 

While trusts used to be available only to the mega wealthy, they’re now used by people of all incomes and asset values. Unlike wills, trusts keep your family out of the probate court, which can save both time, money, and a huge amount of heartache. Plus, a properly funded trust (meaning all of your assets are titled in the name of the trust) keeps everything totally private.

Trusts also offer several protections for your assets and family that wills alone don’t. With a trust, for example, it’s possible to shield the inheritance you’re leaving behind from the creditors of your heirs or even a future divorce.

Moreover, trusts also offer protection if you become incapacitated and are no longer able to make decisions about your financial and healthcare needs. Using a trust, you can appoint someone of your choosing (not the court’s) to handle your financials if you’re unable to. With only a will in place, your family would have to petition the court to appoint a conservator or guardian to handle your affairs, which can be costly, time-consuming, and stressful.

Finally, if you have a child with special needs like Franklin did, a Special Needs Trust can prevent your child from losing eligibility for important government benefits, like Medicaid and Social Security. A Special Needs Trust—also not subject to probate—allows you to contribute funds for your child’s care without disqualifying them for these benefits.

Don’t wait another day
Regardless of your financial status, planning for incapacity or your eventual death is something that you should immediately address, especially if you have children. You never know when tragedy may strike, and by being properly prepared, you can save both yourself and your family massive expense and trauma.

Don’t follow in Franklin’s footsteps; use her death as a learning experience. Proper estate planning can keep your family out of conflict, out of court, and out of the public eye. If you’re ready to create a comprehensive estate plan, meet with us at Simpson Law Firm. If you already have a plan in place, we can review it to ensure it’s effective and up-to-date. Contact us today for more information—we promise to make it easy. 

This article is a service of Simpson Law Firm. We do not just draft documents; we ensure you make informed and empowered decisions about life and death for yourself and the people you love. We offer an Estate Planning session, during which you will get more financially organized than you’ve ever been before and we will assist you in making all the best choices for the people you love. You can begin by contacting us here,https://simpsonestatelaw.com/contact-us or calling us at 803-764-9555, and one of our friendly client service assistants will help you set up your consultation.