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,

You're reading a preview, sign up to read more.

More from Kiplinger

Kiplinger10 min read
23 Most Popular Aldi Grocery Items Ranked Best to Worst
We've been tracking Aldi prices and products for years as the German discount supermarket has expanded in the U.S. to more than 1,900 stores in 36 states. In the process, we've shared tips and tricks for shopping at Aldi, as well as advice on the b
Kiplinger8 min read
7 Dow Stocks That Billionaires Love
There's something to be said about following the "smart money's" lead into adventurous, high-potential growth plays. But billionaires also see plenty of potential in stable blue chips like the Dow Jones Industrial Average's components. Indeed, Dow st
Kiplinger6 min read
3 Great Reasons to Consider After-Tax Contributions to a 401(k)
The 401(k) has evolved over the past few decades, offering flexibility in the way American workers can save for retirement. More companies are offering their workers more than one option on how to use these accounts, and if you are one of the lucky w