Aaron Carter: A Life Gone Too Soon
Musician Aaron Carter, a former child pop star and younger brother of Backstreet Boys singer Nick Carter, died in November at the age of thirty-four.
Aaron’s untimely passing is one of the more tragic celebrity deaths of 2022. It is also one of the messiest from an estate planning perspective. The late singer, who struggled with substance abuse and family discord, died unmarried and without a will, raising questions about the value of his estate, what will become of his remaining fortune, and who will provide care for his young child.
Aaron’s one-year-old son stands to legally inherit everything, and other family members have reportedly said they do not plan to dispute his inheritance. But there is still the issue of who will manage his son’s money until he comes of age. Because Aaron did not have an estate plan, this matter will be decided by the courts.
From Child Stardom to Bankruptcy
Aaron Carter did not achieve the stardom of his older brother Nick, but he was a highly successful performer in his own right. He opened for the Backstreet Boys at age nine and shortly thereafter landed a record deal. Between his music and an acting career that featured television and Broadway appearances, Aaron made over $200 million before turning eighteen, he said in 2016.
But growing up as a celebrity was not without difficulties. Despite a decade of nearly nonstop touring and music making, Aaron learned on his eighteenth birthday in 2005 that he had only $2 million in his bank account and owed around $4 million in taxes. In 2013, hoping for a fresh start, he filed for bankruptcy. His […]