Amy Winehouse leaves £3m fortune to parents
by Daniel Jones
Amy Winehouse's entire fortune will be passed to her parents, as the star failed to make a will
before she died. After tax, just short of £3 million will go to mother Janis and father Mitch, probate documents reveal.
It means her ex-husband Blake Fielder-Civil will receive nothing from Winehouse's estate.
"There aren't many 27-year-olds that make a will
and Amy didn't either," a source told the Sun newspaper. "She had no idea how much money she had and it certainly wasn't the top of her priority list."
"Had she made a will, Blake may have well been left something - not cash, perhaps an investment. Amy still loved him when she died."
As this case highlights, making a will
can prove vital for people at any age if they want to make sure their estate is distributed in the way they would like.
However, research indicates that many people are failing to make provisions. According to Standard Life, more than half of British adults do not have a will drawn up, with younger adults the biggest culprits.
Nearly two-thirds (60 per cent) of 35 to 44-year-olds do not have a will in place, while 38 per cent of 45 to 54-year-olds have not made a will. The figure is 32 per cent for 55 to 64-year-olds and 22 per cent for over-65s.
Julie Hutchison, head of estate planning at Standard Life, notes that failing to draft a will properly can prove costly in the long term. "The legal fees in untangling estates when someone dies without a will can be higher and the inheritance tax bill could be higher, not to mention the stress for the family and potential delay in distributing assets," she says.
Standard Life's research from last year also shows nearly a third (30 per cent) of those with a will have not reviewed it in the last three to ten years.
Published on: March 28, 2012
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