Estate planning lawyers frequently emphasize the fact that estate planning is something that people of all ages should take seriously. Of course we would all like to live long and healthy lives, and the average lifespan is in fact over 78 years in the United States at the present time. So of course estate planning is going to become more and more relevant as you reach an advanced age, but there are people who pass away before their time.
Catastrophic illnesses sometimes strike, and accidents take the lives of younger people. In fact, younger drivers are more likely to be killed in accidents than older ones for the most part. Being prepared for all eventualities is important, and too many people simply don't take the proper precautions.
We all recently heard the terribly sad news about the death of British singer Amy Winehouse. She enjoyed remarkable success during her relatively brief career, capturing multiple Grammy awards while single-handedly revitalizing the British music scene. Though she appeared to be troubled, her talent was unmistakable and she will surely be missed by her fans and music lovers around the globe.
According to reports that are circulating in the British newspapers, Amy Winehouse did indeed have a solid estate plan in place unlike many other celebrities whose affairs were in disarray after their deaths. The overall value of the Winehouse estate is estimated at approximately $16.4 million, and the heirs to this estate are going to be her parents and her brother.
It was particularly important for her to engage in careful estate planning because she had an ex-spouse named Blake Fielder-Civil who may have been in line to inherit her fortune had the necessary documents not been executed, especially in light of British laws that favor former spouses.
The tragic death of Amy Winehouse underscores the reason why it is important to have a current estate plan in place regardless of your age because you just never know what the future holds.