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Get on the good foot with your finances (or become a player in a financial Family Feud)

While sadly observing the craziness that has surrounded the death of the late, legendary soul singer, James Brown, it seems timely to post a friendly and necessary reminder about the importance of having wills and other financial and legal work in order.

The 73 year old musician passed away on December 25th, and has yet to be buried due to a legal family feud in which his companion, Tomi Rae Hynie, and their 5 year old son, were not only locked out of they home they shared on the morning of the singer's death, but also apparently left out of the will completely. Now, a battle between his six children named in the will, his estate's trust, and Ms. Hynie's attorney has become fodder for an insatiable media circus.

I cannot imagine sharing a home and a child with a man and coming home and finding myself locked out of my very home, grief-stricken and now engulfed in an ugly lawsuit. I also read about how the family of 88-year-old evangelist Billy Graham is already at war over where his final resting place will be. How terribly tragic is that?

My advice is to get your financial affairs in order now. You can't fix nor alter them once your dead, unfortunately so the time is now. Not only do they need be in order, they also need to be consistently updated to reflect divorces, births, etc. Findlaw has a pretty good estate planning 101 overview, which should at least you lead you in the right direction.

In reading some of James Brown's more popular song titles; like Get On The Good Foot, I Don'T Want Nobody To Give Me Anything, Christmas In Heaven, and Sweet Little Baby Boy, the irony of it all is quite upsetting. Don't allow this to happen to you or yours.

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Last updated: May 28, 2012: 06:38 PM

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