Prince's death highlights an important point about estate planning

Thomson Reuters

US musician Prince did not have a will at the time of his death.

A judge recently confirmed that Prince did not have a will at the time of his death.

That could mean a potentially "messy" future for the musician's $250 million estate.

Sure, most of us do not have a net worth valued at $250 million - but estate planning isn't just important for Prince and other high earners.

"Everybody, when you get to a certain point in your life, should have an estate plan," emphasizes David T. DuFault, estate planning and business law attorney at Sodoma Law. In his experience working with clients, "A lot of people are unprepared. Either they don't have a plan, or they have a plan, but haven't looked at it in 20 years."

To help you get started, we've highlighted a few important things to know about drafting a will and creating an estate plan.

Mandi Woodruff contributed to this article.