Pennsylvania residents have likely heard that Aretha Franklin recently passed away after a battle with pancreatic cancer. While her estate was worth an estimated $80 million at the time of her death, the music legend never created a will. An adviser for the singer urged her to go through the estate planning process, but she never followed the advice.
One of the most important parts of estate planning is choosing the right executor. This person will have the legal responsibility to manage the estate. Duties may include filing all necessary tax documents, consulting with attorneys, obtaining valuations for estate assets and possibly resolving family disputes.