By Jamilah Bey, Digital Content Manager, The Washington Informer
When Howard University alum and actor Chadwick Boseman died after a four-year battle with colon cancer, he didn’t have a will. His wife had to petition the court to be named the administrator of his estate.
Despite Aretha Franklin having specific and predetermined outfit changes during her homegoing ceremony, the Queen of Soul made no similar plans when it came to having a will.
And while it’s evident that most Americans don’t possess the financial assets that these celebrities enjoyed, when it comes to passing down assets, most Black people have not implemented the appropriate strategies to secure and preserve generational wealth.
“It's not even just leaving something behind for our progeny,” explained Jasmine Tyler, professor of the practice at the McCourt School of Public Policy at Georgetown University, where she’s also the executive director of the Policy Innovation Lab.
“Of course, our ancestors could barely dream of survival in most cases, let alone having the actual ability to leave something behind,” she said. “The hope of life itself was basically the inheritance that we were afforded.”
Comments