top of page
- Sep 8, 2021
- 2 min read
When the late Swedish DJ Avicii died in 2018, he didn’t have a will. Today would have been his 32nd birthday.
Due to the fact that he didn't make a will, his parents therefore inherited his estate.
Tim Bergling, (Avicii) wasn’t married and had no children. Since he died intestate, what happens to his $25m estate was governed by Swedish probate law.
The musician had been nominated for Grammy Awards. His biggest hit, Wake Me Up, topped dance charts around the world.
Avicii enjoyed a lucrative income, he was reportedly worth $85m. He was well known for his generosity and gave a lot of money away to charities. He gave $1m, in addition to profits from a tour, to the Feeding America charity to alleviate food poverty.
We quote “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.”
According to Forbes, his parents didn't have to pay inheritance tax or estate tax – there was none to pay under Swedish law. But they may have had to pay estate tax on his Los Angeles home, which sold for $12.5m.
If he had made a Will, Avicii could have avoided any uncertainty surrounding his wishes and maximised the estate value by minimising the tax bill.
Shortly after his death, Tim Bergling’s family released a statement alluding to his mental health issues. They said “he could not go on any longer”.
Tim Bergling did much in his life to help his favourite charities. Had he written a will, he would have been able to decide which of them would benefit in future, and whether to leave gifts to his sister, two brothers and friends.
In the event, it’s his parents who get to decide what happens to the wealth created by an extraordinary, much-missed artist.
You are never too young to get a will contact McKeag & Co Solicitors to set up an appointment;
Call us: 0191 213 1010
Email us: firstname.lastname@example.org
Fill in our contact form: www.mckeagandco.com
bottom of page