– PRINCE’S INTESTACY –
” I never meant to cause you any sorrow
I never meant to cause you any pain
I only wanted one time to see you laughing
I only want to see you laughing in the purple rain “
As the lyrics in one of his most popular songs, Purple Rain, Prince felt the colour purple symbolized the end of the world. He explained the meaning of the song as “when there’s blood in the sky…red and blue = purple.
Purple rain pertains to the end of the world and being with the one you love and letting your faith/God guide you through the purple rain”. But unfortu- nately, Prince did not plan for the end of his world and left no guidance for his loved ones to get through the “purple rain”.
Just like he described the meaning of the song, when you pass away your family will feel as though their world is ending. To imagine a life without you will be absolutely devastating and at times will feel impossible to navigate through. That is why it is so important to plan ahead to help make things easier for your family when they are grieving and dealing with the inconsolable loss of their loved one.
Prince was known as one of the greatest musicians of his generation and as a result had accumulated great wealth. Initially his estate was valued at approxi- mately $300 million dollars and years later after high-powered attorney fees and financial advisor fees his estimated fortune has dwindled down to half of that value and it is still up in the air and being contested.
Prince was survived by his sister and five half-siblings and because he had no Will the courts following state statutes will determine who will inherit from his estate and how much each person will inherit. It will never be known who Prince intended to receive what or who he trusted to administer his estate due to poor planning.
Don’t let this happen to you!
If you die intestate (without a Will) in Ontario your next of kin has the right to apply to be appointed as estate trustee of your estate and the Succession Law Reform Act sets out who is entitled to share in your estate and what share they will receive.
With proper Estate Planning you take away any guesswork and let your loved ones know exactly what your intentions are by setting them out in a legal valid document, your Last Will and Testament.
Our Estate Planning team is knowledgeable, caring, empathetic and really good at listening. We take the time to truly listen to you and what is most important to you.
Call us (905) 592 20 99 so we can help you protect your legacy and your family!