A Different Kind of Ending
In the world of music, we often hear tales of tragedy from abuse of alcohol or drugs. It’s not too often that we find musicians who were ahead of their time both in their music and in their personal lives and for that matter, in their estate planning. Music icon David Bowie was the exception and his life and death provide an example we can learn from.
Planning for the Future
David Bowie was ahead of the curve in so many ways. He reinvented himself regularly with different types of music and was considered ahead of fashion trends. He even long ago had bonds sold based upon his future record sales that would help his financing of purchasing ownership of music from his manager. He also briefly opened his own bank.
He seemed to have a vision for the future and planned ahead for opportunities and needs.
End of Life Planning – Bowie Style
When he knew he was winding down with cancer, he made plans for his care and comfort and the seeing of loved ones. He had been winding down with cancer for some period of time. He had arranged for loved ones to be with him, for his home to be setup as needed with his physical abilities winding down, and with efforts to keep him as active and comfortable as possible. When he could not go out to visit his favorite places for food, he made arrangements to have it brought in. He had even released new critically acclaimed music on his 69th birthday, two days before he died.
When he finally passed away at age 69 it was as HE planned. He was surrounded by family, loved ones and in the comfort of his own home.
What We Can Learn from David Bowie – Plan Ahead
- One can do End Of Life Planning and make that part of their Estate Plan.
- Be specific in your Estate Plan, including your Living Trust, whether or not you want to be cared for at home and only moved to a care facility if medically or financially necessary.
- You can pick any care facility you want to go to. Most Long Term Care Insurance now provides for payment of at-home care, along with payment of a care at nursing facility.
Although few are going to have the resources like music icon David Bowie had, most of us can plan ahead of time. “What if one becomes mentally incompetent or declines physically?” “How do we want to be cared for?” “What arrangements should we make ahead of time?”
Though his death was sad, his family, loved ones and fans can spend more time celebrating his life rather than worrying about the way it ended.
At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.