Muhammad Ali’s Nine Children & Widow Will Inherit His $80 Million Estate

The media reports that Muhammad Ali’s estate has been finalized. Muhammad Ali’s estate will be distributed according to his will. According to the Daily Mail, each of his NINE children will receive $6 million and his widow, Lonnie, will receive the rest. Supposedly, his children were upset that their step mom was receiving more money than them. However, Ali’s eldest daughter claims that there was never an inheritance dispute. Probate litigators know that inheritance disputes frequently arise between children and their parent’s second, third, or, in this case, FOURTH spouse. However, a good estate plan can, when prepared by a Florida estate planning lawyer, help to make sure that your fortune is inherited by the people you intend it to go to.

West Palm Beach will lawyers 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 lawyer may be able to help you avoid a Florida guardianship and protect your wealth that you are no longer able to manage. Probate attorneys know that it is not very expensive to create a Florida will, revocable trust or living trust and they can be completed quickly. Therefore, many people do not have an excuse, especially people with $80 million estates like Muhammad Ali!  Why did Ali bother to have an estate plan? Because, if he would have died without a will, his estate would have passed 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. Florida litigators know that, when you die intestate in Florida, heirs inherit. With a properly executed will, Ali was able to specify exactly who he wanted his money to go to. If he didn’t have a will, there probably would have been a lot more money spent on probate litigation lawyers! To read the entire article, click here.