Joe Jagger's Estate and Wealthy Family Members
Mick Jagger's father, Joe Jagger, died in November of last year. Mr. Jagger left all of his assets not to Mick but to his other son Chris -- here's a short article.
I wish more people with wealthy relatives would take this approach. There's little reason to leave a bunch of your money to a wealthy child, parent, or sibling -- in some cases, it just causes headaches. I assume Mick Jagger understood this, as he's named as his father's executor.
If a client feels funny about disinheriting a family member because of lack of need, I always suggest putting their rationale for doing so in their documents. Of course, the better approach is to talk to family members and explain why you want to leave your money elsewhere.
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