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Famous actor dies without a will. What will happen to his estate?

Estate planning is not something reserved only for the rich and famous, but it is a process that can be especially beneficial for individuals who have a significant amount of wealth. Chadwick Boseman, a famous actor, recently passed away without a will. While many in Louisiana don’t have millions of dollars to protect like Mr. Boseman did, this situation illustrates why it is so important to have a will and other estate plans in place.

When someone passes away without a will, the court will decide what happens to the decedents’ estate. Mr. Boseman had a wife, but state laws will determine the distribution of his wealth. His wife has currently applied with the court to be the administrator of his estate, valued at around $1 million. Outside of his accounts, there could be other assets that will likely go through the probate process.

Many people procrastinate with their estate plans because they fail to see why it’s important. They may assume they have more time left or they don’t have enough wealth to justify the effort. In reality, every Louisiana adult will benefit from having an estate plan, even if that individual is not a famous actor or high-income earner.

Estate planning allows an individual to have more control over his or her stuff. It provides a way to keep certain assets out of probate, name someone specific to oversee the distribution of the estate and more. Dying without a will can cause complications for loved ones and beneficiaries, and even a simple plan can provide a certain amount of protection.