The music icon passed away in 2016 with no will or estate instructions.
What followed? 6 years of probate, legal battles, and delayed income for heirs.
Lesson: Even legends lose everything without basic planning.
Founder ousted with no leadership transition plan.
The company spiraled into bankruptcy, costing 10,000+ jobs.
Lesson: A missing plan can destroy even an iconic brand.
60% of small businesses shut down within 6 months after the sudden death or disability of the founder.
Source: U.S. Small Business Administration / SCORE
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