Although DMX was successful in music and movies, the rap icon experienced serious legal and financial problems. His story proves that regardless of your financial status, planning for your potential incapacity and eventual death is something you should take care of, especially if you have children. The saddest part of this whole situation is that all the conflict, expense, and trauma that DMX’s loved ones are likely to endure could have been prevented with comprehensive estate planning.
Legendary hip hop artist Earl Simmons, known as DMX, passed away at age 50 after suffering a heart attack. Despite selling more than 74 million albums and enjoying a wildly successful career in music and movies, DMX, who died without a will, left behind an estate that some estimates report being millions of dollars in debt. With so much wealth and so many children, his failure to create an estate plan will likely mean his loved ones will be stuck battling each other in court for years to come.
Although Britney's story is certainly tragic and we can't be sure how it will ultimately play out, her case has at least shined a spotlight the possible pitfalls within the conservatorship and inspires you to make certain that you and your loved ones have the proper estate planning strategies in place to prevent the loss of autonomy, family conflict, and potential abuse that comes with court-ordered conservatorships and guardianships.
Since the age of 16, when she burst onto the charts with her debut single, "Hit Me Baby One More Time," Britney Spears has been one of the world's most famous and beloved pop stars. Yet despite her fame and fortune, Britney never had full control over her own life. She's been living under a conservatorship for the past 13 years. With the thought that it was only meant to be temporary, yet, it was made long-term, and her father has remained in nearly full control of her life ever since.
A last will and testament is the most commonly thought-of document when it comes to an estate plan. But really, it's only a very small part of an integrated plan that ensures your family stays out of court and out of conflict if and when something happens to you. Do not think you can just write your own will that will help your family, especially when you plan on creating it online. If you need help in getting started, consult with Personal Family Lawyer® that will help you through the process.
To make certain that your business—and the income it generates for your family—would continue to run smoothly when something happens to you, you need to create a comprehensive estate plan, and it really needs to include a trust. Without such a plan in place, your business will be stuck in an unnecessary court process that could easily cause the loss of everything you’ve worked so hard to build.
Every state has different terms for what happens when you become incapacitated or die, especially when you have a blended family. One of the most common problems that arises of having a blended family is that the deceased’s children from a prior marriage and the surviving spouse end up in conflict. Unless a comprehensive plan has been created. That way, not only do the people you love get the assets that you want them to receive, but you may also be saving them for years of legal conflict.
Facing a lawsuit can be challenging. As much as possible, you want the whole thing to be over quickly and don't want to settle in for the long haul. However, your litigation will not be resolved without going to court, and the best way to help you deal with this conflict is to find the right lawyer. So how do you choose the best lawyer for your situation? Here are some tips to help you hire the right lawyer for your case.