Rapper Nate Dogg's $200,000 estate moved one step closer to being settled after his wife (step-mother to his children) and his mother ceded control of the estate to a neutral 3rd party at the request of his children. Mr. Dogg died in March 2011 without a will at the age of 41, leaving a wife and 6 children whose ages are unascertainable in a cursory web search. His wife and mother had sought to be appointed co-executors, but his children believed they were only motivated by financial gain and did not have the best interest of the children at heart.
Lessons to be learned:
1. Everyone, even rappers, need a will. The issue of executors would not have arisen because the will would have appointed someone to serve in that role.
2. A funded trust would have been better because this entire dispute, or at least the financial end of it, might have remained shielded from the public.
3. $200K estate for a rapper? The music business is tough for everyone this century. However, 6 children, a socially appropriate level of bling, and no solo releases for 9 years could drain assets quickly.
Lessons to be learned:
1. Everyone, even rappers, need a will. The issue of executors would not have arisen because the will would have appointed someone to serve in that role.
2. A funded trust would have been better because this entire dispute, or at least the financial end of it, might have remained shielded from the public.
3. $200K estate for a rapper? The music business is tough for everyone this century. However, 6 children, a socially appropriate level of bling, and no solo releases for 9 years could drain assets quickly.
