“Float like a butterfly, sting like a bee.” This was said by no one other that the world’s most renowned heavyweight champion, Muhammad Ali. Ali sadly left this world back in 2016 due to complications with Parkinson’s disease, and his legacy lives on even to this day. With this legacy, he left behind approximately $80 million dollar estate to his wife, Yolanda.
Unfortunately for his children, they fought against their stepmother in order to retain the $6 million that they each deserved. Surprisingly, even though his own children despise one another, they are able to work together to make sure the money with Ali’s estate allocated effectively and evenly. His children even accused their stepmother of keeping Ali isolated from his children during his final days.
Besides Ali’s estate, his funeral proceedings went in accordance with the thorough details he laid down years before. Ali claimed that he wanted both his life and his death to become a teaching moment for younger audiences. From a traditional islamic funeral to being praised for being “The Greatest of All Time”, Ali’s legacy will never be forgotten. Even though his estate planning was not considered to be strong, the legacy and funeral proceedings went perfectly as planned.
Michelle Profit is an estate planning attorney serving Maryland and the District of Columbia. A Harvard Law School graduate, she has worked in the financial services industry for over 20 years. A dedicated advocate for all of her clients, Michelle Q. Profit personally handles each client case from start to finish to meet the client’s needs and objectives. Michelle listens in the consultation sessions and works with any other client accountants or financial planners to create a comprehensive estate plan.