The late DMX’s estate is a clear demonstration of the importance of taking out a missing beneficiary comfort policy, writes Danny Curran, Finders International’s CEO and founder.
The NME reports that another woman has stepped forward, claiming to be the child of the late US rapper. Her claim bumps up the alleged number of his children to 15, and further complicating the battle over his estate.
DMX, real name Earl Simmons, died in April 2021, following complications post a cocaine-induced heart attack. He was the first artist to debut an album at No. 1 five times in a row on the Billboard 200 charts and has sold more than 74 million records world-wide.
Estate worth less than $1 million
In May, the courts estimated that his estate is worth less than $1 million, and his daughters’ legal team estimated it was worth $50,000 when he died. The rapper had filed for bankruptcy three times during his lifetime. Child support claims were cited as his priority the first time he filed.
Herbert Nass, the trusts and estates attorney for the three sons, said that all of DMX’s alleged children will need to undergo paternity tests to prove their claims. The rapper has four children from his marriage and one child from his engagement. Three of the rapper’s sons, Xavier, Tacoma and Sean Simmons, have been declared temporary administrators of his estate.
Here at Finders International, we are long-time providers of Aviva Insurance policies that are designed to protect against claims from missing heirs, untraced family members, additional and unknown beneficiaries as is the case with DMX.
Administering an estate “a unique set of challenges”
Administering an estate often presents a unique set of challenges to personal representatives and estate practitioners, who need to ask, “have all the beneficiaries been identified and how can we account for a missing beneficiary’s share?”
Insurance can offer reassurance and help protect against the unknown. While a professional genealogist, such as the work we do at Finders International can take steps to mitigate the risks of distribution, we always recommend clients obtain insurance cover to provide security and peace of mind before paying out to beneficiaries.
As approved agents of AVIVA and the longest standing user of the company’s self-approval system, Finders International can quickly obtain policies upon completion of our report to protect solicitors and heirs so that beneficiaries can receive funds safe in the knowledge that they will not have to repay their shares in the future.
You can get a free quote here.
This article was submitted to be published by Finders International as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
