Hard Work Pays Off
- Sunday, 22 March 2020 20:08
Juice WRLD was a 21 year old rapper who died late last year from an opioid overdose. He allegedly swallowed several Percocet pills to hide them from police who were waiting to search his private plane for drugs and guns upon landing in Chicago.
His mother has asked to be appointed as his estate representative. The estate was recently revealed to be worth $3.2 million
. His assets consist of a Miami condo worth $1.5 million, a bank account valued at $1 million, and personal property (mostly watches and jewelry) worth $450K. TMZ reported that he might have additional assets in a trust
Several quick points:
1. Mr. WRLD’s estate will likely exceed what is initially reported because the listed assets do not include his music royalties.
2. His estate will increase in size because the single he recorded with Eminem and which was released posthumously (for him) hit Number 3 on the US music charts and went Number One in the UK (apologies for channeling Casey Kasem).
3. It is nice that TMZ finally acknowledged that celebrities might have assets in a trust which are not included in probate filings, but in this case that is misplaced. If a man did not have a will (his mom is asking to be appointed as administrator, she is not designated as executrix in his will), he did not have a trust.
4. Unsurprisingly, like most Millenials and Gen Z-ers, Mr. WRLD apparently did not own any stocks or bonds. Consider his heirs fortuitous in these turbulent markets.
Photo Credit: @JustinMyView/R1 Digital
License: Fair Use/Education