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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, S ep te m be r 20 ,2 01 8 | 18 AyA Kitchens of oAKville 1195 north service roAdwest 905.847.1522 ayaoakville.com Let us host you th is Fall at R icarda 's ! In need of a place to host your employees, coworkers, or extended family?! We've got a private dining space, custom menu options, and a variety of bar set ups to suit your parties needs! Get in touch to plan your celebration at Ricarda's reservations.oakville@ricardas.com 312 Lakeshore Rd. E., Oakville, ON L6J 1J2 (905) 844-7401 | @ricardas.ov In many cases, people who don't have a will are knowledgeable individuals with financial and real es- tate assets that will need to be distributed upon their demise. Most people without a will clearly understand they should have one. They have understood this for years but have done noth- ing about it. I find that curi- ous. Queen of Soul Aretha Franklin passed away re- cently after a long battle with pancreatic cancer. She was a Detroit icon who a had a long and successful career. Franklin died without a will. According to Forbes magazine, her net worth is estimated to be $80 million. We can imagine she had a team of professional advis- ers over the decades, who would have suggested she complete a will. Following her death, her entertainment lawyer went public saying he had encouraged her to prepare a will. Plus, her death was not without warning. There was plenty of time to consider how she wanted to distribute her estate. When you die without a will, your assets are even- tually distributed. But that can be a very messy pro- cess. The more money in- volved, the greater chance that family members will argue. Many of those argu- ments often end up in court. Having family harmony over a lifetime can be chal- lenging during the best of times. Add in a fight about a sizeable estate, and things can get ugly very quickly. Musician Ike Turner's estate is a prime example. It is still in litiga- tion 11 years after his death. Several years ago, a law- yer told me that estate liti- gation and family fighting is far more severe than an antagonistic divorce. Es- tate battles involve money and emotions, which are two explosive ingredients for a big fight. When you die you leave assets that form your es- tate, and those assets will eventually be distributed. Having an up-to-date will ensures your estate is dis- tributed as you intended. When you die without a will you still leave those same assets in need of dis- tribution. But without a will you also leave a big mess. Peter Watson, of Peter Watson Investments, MBA, CFP, RFP, CIM, FCSI, offers a weekly financial planning column, "Dollars & Sense." He can be con- tacted through www.peter- watsoninvestments.com. DO YOU HAVE AN UP-TO-DATE WILL? OPINION 'WITHOUT A WILL YOU ALSO LEAVE A BIG MESS,' WRITES PETER WATSON PETER WATSON Column