I was lucky enough to get tickets to see Beyoncé and Jay Z at their On The Run Part II tour in June. As incredible as it was to see such a power couple take to the stage together, having the legal knowledge that I do had me thinking (albeit painfully) about what would happen in the ‘worst case scenario’?
The tour is known to be a family affair with both Jay Z and Beyoncé travelling with their 3 young children. As horrible as it is to think about, I couldn’t help but wonder what would happen if their private jet tragically went down meaning that they all passed away together? In the highly unlikely event of a common accident, unless they had made specific provision in their Wills, they would be deemed as having died intestate and their estates would be governed under the rules of intestacy. If no provision had been made for such a tragedy, their combined estate worth billions of dollars could be diverted into the hands of someone they did not intend.
Although I am sure that Beyoncé and Jay-Z’s lawyers have taken care of this possibility, it is often a subject that most people cannot bear to think about. Having a Will cannot be underestimated and at Gepp Solicitors, we encourage clients to consider ‘a worst case scenario clause’ to cover all eventualities and ensure your estates do not become a victim to the intestacy trap. If you would like to discuss Intestacy or how to make provision for a common accident, please do not hesitate to contact the Private Client Department on 01245 493939 or at firstname.lastname@example.org