Michael Jackson entertained us for nearly all of his 50 years. And, unfortunately, his death continues to be a source of attraction for millions. Attention is now focused on whether the singer died with a valid will. Current news stories report that a will from 2002 is his most recent, and may be filed as soon as July 2nd. Reports indicate that his estate is divided between his mother, three children, and various charities. While most people do not have an estate with assets and liabilities in the hundreds of million dollar range, many people do have young children.
One valuable lesson from his early death is that the only valid way for a parent to name a guardian for minor children is in a will. Through proper planning, parents can nominate the person(s) who should raise children, and who should manage the finances. This is an issue that can rip families apart. Take the time to think through the decision now, and hopefully it will never come to pass.