Do you have a will?
At this point, it’s been widely reported that Prince died this past April 21 without a will.
But while Prince’s estate is extraordinary in its intellectual property value, it’s fairly ordinary for someone to die without a will. Statistics from recent years show that more than half of Americans do.
So this week, we’d like to ask you: Do you have a will? If so, how old were you when you put it in place?
Answer in the comments.
Read the answers to last week’s question: Is nonlawyer ownership of law firms long overdue? Or a bad idea?
Featured answer:
Posted by American of African Descent: “It’s a great idea so long as you structure the arrangement to separate ownership and control. If I want to sell a share in my future recovery on a contingent fee case in exchange for up-front cash by an investor, that might be a great (financial) risk management tool. So long as I maintain control of everything (nonvoting shares issued to the investor, for example), where’s the harm? Also, let’s get rid of the prohibition on sharing fees generally. If I want to institute a referral program to nonattorneys, I’d like that flexibility.”
Do you have an idea for a future question of the week? If so, contact us.
