Who will inherit Pete Burns’ wealth? How much was the Dead or Alive musician worth? After learning of the unexpected death of musician Pete Burns, it is hard not to wonder where his fortune is headed. The media has not yet reported whether or not he died without a will. If he died without a will, what does this mean for his family?
The Estate of Pete Burns
- On October 27, 2016, The New York Times reported that Burns had passed away.
- Now that he is dead, who will inherit his wealth?
- Does this famous musician have a will or even a simple estate plan?
- Florida estate planning attorneys and probate litigators encourage clients to create some sort of estate plan, as it can prove to be very beneficial even while you are still alive.
- For example, if you become incapacitated, a good estate planning attorney may be able to help you avoid a Florida guardianship and protect your wealth that you are no longer able to manage.
- Probate lawyers know that it is not very expensive to create a Florida will, revocable trust or living trust and they can be completed quickly.
- Why should I bother to have an estate plan?
- Because if Burns did not have a will, his estate will pass by a state law that controls who inherits property when someone dies without a will.
- In most states, this is called intestacy law or dying intestate.
- Palm Beach litigation attorneys know that, when you die intestate in Florida, heirs inherit.
- The New York Times article states that a complete list of survivors has not yet been published.
- What if Burns didn’t have an estate plan and didn’t want his heirs to inherit his wealth?
- He should have created a will or trust!
- To read more about Burns unfortunate death, click here.