Amy Winehouse's Will: What Can You Learn From It?

Posted on 08/01/2011

Amy Winehouse died tragically at the young age of 27. And despite the sometimes erratic life she lived, she did manage to keep her affairs in order. Before the details of Winehouse’s will were released to the public many wondered if her ex would secure her fortune, including the rights to the singer’s yet-to-be published third album. But the good news is Winehouse had an ironclad will—something we can all learn from.

You’re Never Too Young for a Will - I’m the daughter of an attorney who’s handled wills, trusts and estates at an Iowa law firm for decades. So to get some insight on what we can learn from Amy Winehouse, I called up my dad, Larry Storm. He told me something I’ve known for a while: you’re really never too young for a will, especially when kids are involved. “Having a will is important if you have a spouse and even more important if you have children,” says Storm. If you’re 18 with no dependents, no property and little cash in the bank it’s probably not your first priority, but it can’t hurt.

It’s Important to Update Your Will - According to reports, after Winehouse divorced her ex Blake Fielder-Civil, Winehouse updated her will to eliminate him from it. Her estimated $32 million fortune will now go almost exclusively to her parents and brother. Storm suggests making updates immediately if you experience a major life change, but generally reviewing your will every three to five years is fine.

Getting a Will Doesn’t Have to be Expensive - If you’re in a tight financial spot and you’re forced to choose between necessary car repairs and paying for a will, the will probably won’t be your top priority. But experts say it doesn’t necessarily have to be an expensive process. A basic will at starts at $69.

Creating a Will Makes Life Easier on Your Family - It’s undoubtedly been a difficult time for Winehouse’s parents, Janis and Mitch as well as her brother Alex. But experts agree that having a good, clear will in place makes the process easier on those you leave behind.

By Alison Storm

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