Re: Good grief, no will

chrystaltree · ‎05-10-2010

@YorkieonmyPillow wrote:
@chrystaltree How do you know she didn't leave special things to her friends or charities? She may have distributed all that before she passed.
She was worth 80 million, is what I heard.
I don't know why she wouldn't do a will - maybe she was afraid if she made a will, someone would bump her off.
Some people have odd beliefs (if it IS odd).
She had her purse with her within sight when she performed, else she wouldn't go onstage.

Perhaps she did but that's really not the point. The point is that the wealth she accumulated over decades is now subject to taxes and lawyers and years of delays and after all that, her sons will get far less than the would have received if she'd had a will but also had a team of attorneys and estate planning that wealthy people, even not so wealthy people have. Bump her off? Oh, please. We aren't talking about an episode of some old cop show. I suppose some people fear death and can't except the fact that they will die so they just don't prepare wills or do any estate planning.

chrystaltree · ‎05-10-2010

@queendiva wrote:
Depending on state laws, the government will also benefit in a big way from her estate not having a will.

Yes, that's sad part of it all. So much of her fortune will go to the the government and to attorneys.....many, many attorneys.

arrabella · ‎03-12-2010

I was stunned when I heard this. Can't imagine a woman with such means would not have a will.

suzyQ3 · ‎03-09-2010

@Isobel Archer wrote:
@YorkieonmyPillow wrote:
@chrystaltree How do you know she didn't leave special things to her friends or charities? She may have distributed all that before she passed.
She was worth 80 million, is what I heard.
I don't know why she wouldn't do a will - maybe she was afraid if she made a will, someone would bump her off.
Some people have odd beliefs (if it IS odd).
She had her purse with her within sight when she performed, else she wouldn't go onstage.
She took her purse onstage???? Seriously??? She was that concerned that people would steal from her? Wow.

@Isobel Archer, we don't know whether she had reason to be fearful or not.

~Who in the world am I? Ah, that's the great puzzle~ Lewis Carroll, Alice in Wonderland

Silver Lining · ‎04-16-2010

Maybe she had run through her fortune and there was nothing much left. It happens all the time. You see reports of formerly wealthy celebrities who ended up broke but still kept up the appearance of prosperity. She could have been deeply in debt.

Maybe she thought she wouldn't have to pay taxes. She avoided paying them in the past. Who knows, maybe she put her money in safety deposit boxes and gave the keys to whom she wanted to have her money and valuables. Possibly she had money stashed in off-shore accounts and her beneficiaries were told how to access it. There could be lots of reasons why she refused to have a will.

IMW · ‎06-15-2014

Many people believe that making a will is tempting fate.

VaBelle35 · ‎03-10-2010

I have read that she also insisted on being paid in cold hard cash for appearances. It was apparently very common with some of the Motown artists who believed they were cheated out of money and were distrustful of venues and middlemen.

I believe I heard the same thing about Chuck Berry.

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SeaMaiden · ‎03-10-2010

@Silver Lining wrote:
Maybe she had run through her fortune and there was nothing much left. It happens all the time. You see reports of formerly wealthy celebrities who ended up broke but still kept up the appearance of prosperity. She could have been deeply in debt.

Maybe she thought she wouldn't have to pay taxes. She avoided paying them in the past. Who knows, maybe she put her money in safety deposit boxes and gave the keys to whom she wanted to have her money and valuables. Possibly she had money stashed in off-shore accounts and her beneficiaries were told how to access it. There could be lots of reasons why she refused to have a will.

@Silver Lining She left behind an estate worth 80 million.

FrostyBabe1 · ‎05-09-2016

The NBC affliate in Grand Rapids, MI just did a story on this. According to the story, under Michigan law, the estate of a single person who dies without a will is to be split equally amongst their children.

~The more someone needs to brag about how wonderful, special, successful, wealthy or important they are, the greater the likelihood that it isn't true. ~

puttypiesmom · ‎10-11-2017

I would imagine her estate being worth more than 80million if not for supporting her 4 kids, grandkids and greatgrands not to mention baby mamas the sons impregnated along the way. Buying homes for her kids, cars, clothing, etc. How does a child walk in the shadow of such a great talent and become just as great? I don't think it's possible. TOD's and joint ownership of her bank accounts and homes is all most feel they need to do.