Required

Could Michael Hutchence estate now be worth millions?

Although singer Michael Hutchence died having almost no assets, his estate might now be worth millions.

When the former lead singer of INXS committed suicide in 1997, his family was shocked to learn that he had almost no assets. His bank accounts were nearly empty. Real estate he had told them he owned, turned out to belong to other people.

It was not clear what happened to the rights to his music either.

However, now his family thinks Hutchence’s daughter, known as Tiger Lily, could inherit millions when she turns 21 in the next few weeks.

Before he passed away, Hutchence set up a trust fund. The family thinks the trust now has assets for Tiger Lily to inherit, according to the Daily Mail in “Michael Hutchence’s daughter Tiger Lily is set to ‘inherit millions’ on her 21st birthday next week through a trust fund set up by her INXS musician father.”

It is not entirely clear why the family has this belief,  since many details about the trust are not public and the family does not control the trust. It could be that the rights to Hutchence’s music were placed into the trust, which would give it a regular income that could be given to beneficiaries.

Similar things can happen anytime an estate has a valuable asset that can earn a continual income.

For these types of estates, it is important to make sure that the people in charge of them know how to maximize the potential of the assets, in order to get the most income out of them.

We may learn soon whether the Hutchence’s estate does have those people in charge.

Reference: Daily Mail (July 16, 2017) “Michael Hutchence’s daughter Tiger Lily is set to ‘inherit millions’ on her 21st birthday next week through a trust fund set up by her INXS musician father.”

Hear From Our Clients
tes-prev
tes-next

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben