Losing Black Wealth : A serious talk about money and estate planning

read this article:
“My mother was a smart, talented, courageous woman. After my parents’ divorce, she returned to school, earned a PhD in speech and language pathology, joined the ranks of academia, and rose through those ranks to become provost on one of the campuses of the state’s university system.

After a few years, having had enough of the politics of government-managed higher education, she became an entrepreneur and built a successful private practice.

The issue with my mother’s estate was never about who got what; the proceeds were split among us evenly without any rancor. The issue is why my mother would not carry out a simple task and get a will in order to maximize her 30-year investment and create intergenerational wealth.”

Prince:
The ongoing controversy over the money left behind by Prince when he died without a will is heating up again after Internal Revenue Service calculations showed that executors of the rock star’s estate undervalued it by 50 percent, or about $80 million.

Aretha Franklin:
Franklin’s estate, including real estate, luxury cars, furs and jewelry, has been estimated at more than $18 million and as much as $80 million. The legendary singer left no formal will but three hand-written documents have been discovered since her death.

#blackwealth
#money
#generationalwealth

source