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Adios Maradona – Estate In Crisis

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maradona

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The footballing legend, Maradona, was an expat. He lived in multiple countries and enjoyed a lifestyle that one could only describe as excessive. He had at least 8 children which he acknowledged from 6 different women.
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Maradona’s Estate

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The BBC reports that the estate could be worth as much as US$100 million or as little as $500,000. Normally, under Argentine law, the children would inherit equally. However, a part of the estate could be distributed according to the wishes of the deceased.
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Sadly Maradona does not appear to have prepared a Will.  However, he appears to have expressed his wishes in a YouTube Video in 2019. In this video, he talks about donating his wealth.
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As a consequence, the process of settling his affairs is expected to take a long time and to be expensive due to opportunistic paternity suits, legal arguments between family members and unpaid taxes in Italy.
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Why Was There No Will?

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I am a Will Writer living in a multi-cultural society. I know there are many nationalities who view the preparation of a Will as tantamount to declaring your own death is imminent. This may be an acceptable way of acting for those who have only lived in their own country, have very little by way of assets and no young children. Maradona failed on all three of these tests. Therefore he should have received advice from his lawyers about the preparation of a Will. I hope for their sake they have documented evidence that they have advised their client to prepare a Will and that this was rejected. Now, in the absence of a Will, the following is likely to happen:
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  • Less of his estate being given to his children
  • Legal fees will be higher
  • Distribution of his estate will be delayed
  • Legal disputes between family members may go on indefinitely
  • There may be irreparable damage to family relationships

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If Maradona had genuinely intended to donate all or some of his wealth, we do not know what cause he wanted to support. This would be a sad end to a controversial figure.
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For information on how to prepare your Will, please contact us. Alternatively, call 050 594 5217 or book a free  ZOOM appointment here.

 

 

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