Electronic dance music Super DJ, producer and musician Avicii (aka Tim Bergling) would likely elicit a “Who’s that?” from majority of the general public. But the Swedish superstar was incredibly famous with millennials and earned tens of millions of dollars per year.
He was regularly on Forbes lists of highest earners during his peak years 2014 – 2016 and for a time had a Hollywood Hills mansion worth almost $18 million. When he took his own life in 2018, his net worth was estimated at $50 million.
And he died without a will. Quite perplexing for somebody that actually had a philanthropic bent during his life. “When you have such an excess of money you don’t need, the most sensible, most human and completely obvious thing is to give to people in need.” From one of his tours, he donated all proceeds to the Feeding America charity. He also donated a million euros to a Swedish charity providing food assistance to the needy.
As a result of not having a will, it is reported that the entirety of his estate passed to his parents under Swedish law (he was unmarried and had no children). The situation begs the question, “Wouldn’t have Avicii wanted to give a portion of his estate to charity?” He was 28 when he died,which demonstrates the need for estate planning regardless of one’s age.
At Keystone Law Group, our experienced attorneys can help you with various legal matters like Probate, Trusts, Estate Litigation & Administration and more. Call us at 310.444.9060 or click here to learn more.
