Kobe Bryant’s Untimely Death Highlights the Vital Need for Estate Planning at All Ages.
You have likely already heard that on January 26, 2020, basketball legend Kobe Bryant was killed in a helicopter crash in Los Angeles, California. Also killed in the tragic accident was his 13-year-old daughter, Gianna, and seven other passengers, who were friends and colleagues of Kobe and his family. The exact cause of the crash remains under investigation.
Whenever someone so beloved dies so young, it highlights just how critical it is for every adult—but especially those with young children—to create an estate plan to ensure their loved ones are properly protected and provided for when they die or in the event of their incapacity.
While it’s too early to know the exact details of Kobe’s estate plan (and he may have planning vehicles in place to keep the public from ever knowing the full details), we can still learn from the issues his family will likely face in the aftermath of his death. We cover these issues in hopes that it will remind you that life is not guaranteed, death can come at any moment, and your loved ones are counting on you to do the right thing for them now.
Why You Need an Estate Plan
Though you almost certainly don’t have a Kobe-size estate to pass on, that makes it even more important for you to handle your estate planning—and get it done right, the first time. Kobe’s family can afford years in court, enormous legal expenses, and a loss of some assets to taxes and lawsuits. Your family, on the other hand, cannot.
You may learn more information and read the entire article on our website dedicated to estate planning and business succession matters.
This article is a service of Lexern Law Group, Ltd. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love.