Why Didn’t Singer Amy Winehouse Leave a Valid Will?

Posted by on Mar 3, 2014 in Legal Services | Comments Off on Why Didn’t Singer Amy Winehouse Leave a Valid Will?

Why Didn’t Singer Amy Winehouse Leave a Valid Will?
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Singer Amy Winehouse didn’t leave a valid last will and testament when she died. The probate court shows that she left £4,257,580, but after taxes and debts, this reduced to £2,944,544. This doesn’t account for her income in the future from CD and other music and DVD sales.

The article in Forbes discusses why it is important for everyone to have a valid will which is updated regularly. Without a Will it is not known who she wanted to leave her fortune to. As she died  ‘Intestate’ there are a strict list of potential beneficiaries laid down in law by the government, which you can see in this intestacy-flow-chart from the Society of Will Writers.

A valid and up to date Will gives you the opportunity to leave:

  • the right money,
  • to the right people,
  • at the right time.

It allows you to cut people out of receiving your money (if it’s legally correct to do so; for example, you can’t cut out young children that you’re responsible for). You can also decide who you wish to look after children under the age of eighteen if both parents should die before the children reach the age of majority.

There are many advantageous tax reasons for having a valid will in place. This could save your estate from being eaten up by Inheritance Tax. A trust may be advisable for your estate, but how would you know? The sooner you are able to meet with a professional will writing adviser, then the sooner your estate planning can be in place for your security and future planning.

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