Mac Miller’s Tragic Death Highlights Importance Of A Will

By |2019-01-16T15:38:36+00:00September 21st, 2018|
Mac Miller, the American Rapper who died of a suspected drug overdose on September 7th, has left his fortune to his family according to his Will.
The Will named parents, Karen Meyer and Mark McCormack, along with his brother, Miller McCormack, as the main beneficiaries of his estate. They will inherit all assets, including his wealth, properties and possessions. Although Miller’s death was unexpected and avoidable, the fact that he made a Will should allow his family to grieve without any additional anxieties and concerns.
Miller, 26, has a suspected fortune of £6.9 million at the time of his death.
In addition to the tragic way Miller died, the fact that the 26-year-old had a Will is also fairly shocking considering the most recent 2018 figures.
The most recent reports indicate that only 75% of people aged over 55, and therefore more likely to be considered after death planning, have made Wills; with only 45% of the UK population ensuring that they have a legally binding Will. Staggeringly, only 24% of people in the UK under 35 have made a Will. This number only increases to 26% if the household has a child over the age of four.
According to the Office of National Statistics Deaths by Single Year report, 3,057 men aged between 18 and 30 died in 2017 in the UK alone. Even though the figure for female deaths in this age bracket is considerably lower at 1,221, the combined figure of 4,278 people dying in the UK during 2017 highlights the extent of the issue.
These figures would mean that 3,251 of these people would die intestate, without a Will, ultimately inflicting additional distress and upset on their loved ones.
Our MD, Paul Dodsworth, commented: This highlights the importance that everyone should have a Will, especially if they own property or have children. Lots of people shy away from making Wills because they equate it with dying, whereas in reality, it is simply a financial planning opportunity to make sure that the right people inherit at the right time. This opportunity has been highlighted in the case of Mac Miller, as proper planning has ensured his family has no additional stress or concerns”.

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