It was saddening to learn of the sudden and unexpected passing away of frontman legend Lemmy of classic rock band Motorhead.
It is estimated that Lemmy’s estate is worth at least 6.75 million and will continue to receive royalties from the bands record sales also. There is yet to be news of whether Lemmy made a Will with which to direct his substantial wealth. This is likely to cause a host of problems assuming a Will cannot be found. There is also an added complication by those wishing to contest his estate. Lemmy has one son currently living in LA, while another of his children was adopted very early on in his childhood. It is also reported that Lemmy spoke of another potential Son in 2004 (source The Telegraph).
A Will serves a number of functions including the appointment of Executors who can begin to organise a deceased’s affairs as soon as the Will is used. Furthermore, it allows you to benefit those you want and avoid the complications of your estate being administered under the laws of intestacy which dictate who benefits and by how much.
We’re used to dealing with estates of all types with ranging legal issues such as tax, intestacy, valuation of assets and matters of domicile. In this case all those factors could apply. Crucially it would need to be established if a Will was made. This is one of the most important documents any person can make and will tell us who the appropriate Executors are and those who benefit. I cannot stress enough how important a Will is and if you have a Will already then its equally as important to ensure its up to date and reviewed regularly.
What about the issue of the estate being challenged? Alex Watkinson, partner of our contentious probate department, acknowledges that there is potential for problems..”In this case there could be issues between the children. The fact one child is now adopted may preclude that child from contesting the estate assuming they were not maintained by the father in any way. There may be a number of partners or even mistresses around the world who all might also have a claim. The most important thing at the minute is to establish if a Will is in place”.
By having specialists in all areas of private client work including Wills, Administration of Estates and Contested Estates we ensure you never have to go too far for all your legal needs to be met. For any further information just get in touch.