Kiplinger

Respect Your Survivors By Creating a Will

Iconic singer Aretha Franklin had it all: respect, talent, fame and fortune, but what she didn't have was a prepared estate. Reports indicate that the Queen of Soul didn't have a will or trust set up before her death from cancer in August. Now her fortune might be in limbo for her survivors.

An estate consists of all property owned by you at the time of your death, according to Findlaw.com:

  • Real estate
  • Bank accounts
  • Stocks and other securities
  • Life insurance policies
  • Personal property such as automobiles, jewelry and artwork

Dealing with finances before a death is an unpleasant topic that people prefer to avoid,

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