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- Put an estate plan or will in place to avoid family conflict and legal confusion after death.
- High-profile cases like James Brown, Prince, Aretha Franklin, and Nipsey Hussle illustrate risks of dying intestate.
- A clear will ensures assets reach intended beneficiaries, including nonrelatives, reducing courtroom battles and delays.
- Consumer Reports found nearly 70 percent of Black homeowners lack wills or plans, exposing families to financial harm.
- Whether wealthy or modest, estate documents protect loved ones and preserve your final wishes long after you are gone.
The families of the late Chadwick Boseman and Malcolm-Jamal Warner should be leaning on each other as they cope with the loss of a beloved family member. Instead, they’re involved in bitter legal battles over the assets they left behind. These family feuds should serve as a reminder for everyday Black Americans to get their affairs in order before it’s too late.
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If you somehow missed the headlines, allow us to get you up to speed. On Wednesday (July 22), it was revealed that Boseman’s brothers filed to have his widow, Simone Ledward Boseman, removed as his estate administrator, alleging that she hadn’t distributed funds from the “Black Panther” star’s estate intended for his parents, according to TMZ.
Although he died without a will in place, a 2022 court order established that the Oscar-nominated actor’s mother and father would receive a 50% share of his assets. His wife would receive the other half. However, six years after his death, the “Marshall” actor’s brothers claim Simone hasn’t paid out what’s owed ($3 million in assets, to be exact) and has instead kept the family in the dark about where the money is going.
Related: Where Did the Money Go? The Secrets Behind Black Celebrity Estates
When it comes to Warner’s drama, the issue has culminated in a lawsuit filed by his widow, Tenisha, against the “The Cosby Show” actor’s mother, Pamela. According to Tenisha, the star established a trust in 1996 that excluded “adequate” financial support for her and their 9-year-old child.
Given that Pamela is the successor trustee, Tenisha is suing for $1.2 million. According to Entertainment Weekly, that figure includes “$1 million in life insurance obligations, $50,542.46 for anniversary payment obligations, $30,500 for a ROTH IRA obligation,” and more.
Besides the family drama, what’s even sadder is that the late actors are part of a growing list of stars who died without having a will in place for the family members they left behind. Artists like James Brown, Prince, Aretha Franklin and Nipsey Hussle had their families in court for years trying to figure out how to divide their assets. Most, if not all, of this drama could have been avoided with proper estate planning.
But this doesn’t just apply to the rich and famous. Many Black families don’t have a will or estate plan in place, which is a setup for legal and financial headaches. According to 2022 data from Consumer Reports, Black and Hispanic homeowners are less likely than white homeowners to have wills or estate plans. Specifically, nearly 70 percent of Black homeowners don’t have either.
Having a will in place helps ensure assets are distributed according to a person’s wishes, especially when it comes to intended beneficiaries who aren’t related by “blood, marriage, or formal adoption,” as noted by the American Society on Aging.
At this point, the choice seems pretty obvious. Put an official will together to make sure everyone is taken care of, or leave your loved ones in a world of financial confusion on top of the grief they’re already experiencing. Families shouldn’t have to navigate courtrooms, lawsuits, and financial uncertainty on top of it.
Whether you have millions in the bank or just a home and a modest savings account, putting a plan in place isn’t just about protecting your assets. It’s one of the final ways you can protect the people you love long after you’re gone.
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