Lessons from Prince’s Estate for the African-American Community

As a member of the African-American community, and in recognition of this individual's iconic status, I am seizing the moment to use Prince’s passing, as a “Teachable Moment!” Prince, by all accounts, was an extraordinary talent, but he was also quite a representative for our community. His life, and his decisions serve, as a mirror of the behavior, we exhibit and the choices we make. This article points out how we can all learn from his life and from his untimely passing.

Listed below are some things I learned from Prince:

1.      Giving and Service: Many people have come forward to share how incredibly philanthropic Prince was. He gave his time, talent, and treasures to many people he didn't know personally. Prince did this many times without receiving recognition or applause for these actions. So, what a world this would be, if we each gave to others the way Prince did. But even more amazing was Prince’s penchant to give without recognition. What a changed world we would have, if generosity was its own reward. That is why our time, treasures, and talents are better sown to reap greater, than we could ever measure.

2.      Planning: Did you know that atypical family structures require more planning? Well, they do. The truth is, families come in all different shapes and sizes. The "standard blend" with divorce, remarriage, and death is par for the course for many. However, in our communities, there are other configurations, in addition to the "standard blend." For example, we know that estrangement in families leads to “the silent treatment” or even a relocation from the marital home. This typically occurs at the end of a relationship. Yet, these developments do not mean the end of a relationship in the eyes of the law. The rights and responsibilities of a family follow its blood line, unless we make a formal plan that provides clear direction on what we want, once we are gone. 

3.      Standing Alone: You don’t have to stand alone. We all have gifts, skills, and talents however, we are not an island. But we must learn a lot to be successful outside of our gifts. The truth is, we were not created to operate in isolation. And when it dawns on us that we have needs beyond our capacities, important to reach out to those who can fulfill our needs. Sadly, in Prince’s case, his physical issues debilitated, and eventually killed him. We all have the capacity to build a network of family, friends, and professionals that strengthen us.

As Prince's "trials and tribulations" are becoming public and we hear about the physicians, who were trying to intervene on his behalf, it is important to remember that you do not have to stand alone. As an Estate Planning attorney, I know there are many of us, who would have eagerly provided professional support to preserve Prince's legacy and protect his privacy. I am one of those people.

1.      Plan for Tomorrow: More specifically, appreciate today, but plan for tomorrow. Most of us don’t know when we will transition. We cannot predict our incapacity or death. I believe that if Prince knew he was going to pass away, he would have made different decisions. He wasn't any different than most of us, who have put off making critical decisions. But, it is important to remember that as we enjoy the youth of today, the wisdom of tomorrow is not promised.   

Prince’s genius was beyond words, and we can learn valuable lessons from his life and death. So, let’s learn from his greatness, and his mistakes, so we can do better with our own lives. He would want that for us!

aimee@lifeandlegacy.law

yourestateplanningattorney.com