This week we will be talking about Earl Simmons, the music legend. Earl Simmons, Dark Man X (DMX) died on April 9. 2021. It shook so many people due to his influence in the music industry. According to the New York Times Earl Simmons had a string of no. 1 albums in the 1990’s and early 2000’s. His music was described as dark and menacing infused with Christian spirituality. This man was an icon to everyone who heard his music. His upbringing and how he grew up influenced his music greatly. A lot of people appreciated him for his authenticity and some could relate. This is what aided in making his music so transformational to many.
Many are familiar with his success and his downfalls. Being in the business of Estate Planning, curiosity struck at the thought of Earl’s Estate and how it could be divided amongst his 15 children, and surviving relatives. Throughout the course of his career it was no secret that DMX had issues managing his Estate. According to cheatsheet.com he lost several homes throughout his life due to money issues.
Upon is death his net worth was negative 1 million dollars, yes you read that correctly NEGATIVE. How could someone with such an amazing legacy have so little to show for it? It is truly a sad situation to have made so much money for so many people and not have been able to keep any for your family. In his last moments, he was on life support due to heart issues connected to his drug use. In addition to his debt he acquired medical bills that have now become the responsibility of those left behind.
We can use DMX as an example of what not to do, unfortunately we do not know the exact details that led to him being in such debt. However, we can speculate that he did not have a plan for when and if he would no longer be here. Having an Estate plan is one of the things that everyone needs to have. Whether or not your net worth is a couple thousand or a couple billion, having a plan for when you have left this earth is essential. It relieves the stress from your loved ones and gives them the chance to properly grieve. It also gives you the satisfaction of knowing that if at any point and time something goes wrong you have secured you family and their wellbeing.
Earl Simmons was a great man, and he lived his life to the fullest extent, he blessed millions with his talent, and his wisdom. He will be greatly missed, we know that a part of his legacy and music will live on forever.