John Lennon is remembered as one of history’s greatest artists. But his financial legacy tells a more cautionary tale.
After his untimely death, Lennon left behind an estate worth around £220 million. Unfortunately, Julian – his son from his first marriage – inherited almost nothing. Meanwhile, Lennon’s second wife, Yoko Ono, and their son, Sean, took control of the estate.
Julian later challenged the will and entered into a 16-year legal battle with Yoko Ono as he tried to claim what he believed was his fair share of the estate.
Eventually, he settled and reportedly received £20 million to drop the case.
This unfortunate legacy that John Lennon left behind can teach some important lessons about estate planning.
1. Set out clear instructions about how you want your estate to be divided
The main point of contention when administering Lennon’s estate was that his son from his first marriage was largely excluded from the will.
Originally, Lennon had set up a trust for his first wife, Cynthia, and Julian. But after he divorced Cynthia and he and Julian became estranged, Lennon reviewed his estate plan and Julian was left with nothing after his father’s death.
Sadly, many people claimed this was deliberate and, under Yoko Ono’s influence, Lennon had come to favour his other son, Sean, who now controls the estate.
Whether this is true or not, it demonstrates the importance of setting out clear instructions about how you want your estate to be divided, especially if you have a complex familial setup.
In many cases, failing to leave clear instructions leads to “sideways disinheritance” – children from a previous marriage being left out of the will. This can happen accidentally if you leave everything to a new partner, and they then neglect to include all your children in their own will.
Alternatively, if you fail to create a will in the first place, your estate may be divided according to “the rules of intestacy”, meaning your wishes might not be fulfilled.
Even if you do want to intentionally exclude children – for example, if you plan to pass wealth directly to your grandchildren – it’s important to state this clearly in your will so you can avoid confusion and potential inheritance disputes.
Had Lennon’s estate plan been more robust, Julian may have been treated more fairly. Alternatively, if he was intentionally excluded, it would have been harder to contest the will.
2. Don’t neglect important updates to your estate plan
Towards the end of his life, Lennon reportedly reconciled with Julian, to some extent. Yet, he did not update his will.
While we can’t know what would have happened, Lennon may have changed his estate plan to distribute his wealth more equally between his children after repairing his relationship with Julian.
Unfortunately, he didn’t get the chance as he was killed suddenly. This highlights how important it is to be proactive about your estate plan.
You never know what life will throw at you and no matter your age, you could fall ill or be involved in a serious accident without warning. If you neglect your estate plan, you risk leaving it too late and causing undue stress for your loved ones after you’re gone.
So, if you’re yet to create an estate plan or there are important updates you want to make, do it as soon as possible. That way, you have the peace of mind that comes with knowing your estate will be managed as you intended.
3. Choose a reliable executor to manage your affairs
When challenging the will, Julian claimed that Yoko Ono had improperly influenced his father and pushed Lennon to disinherit him.
Later, Yoko Ono refused to share personal items with Julian, including a series of letters he and his father had written to one another.
Whether John Lennon had intended for her to manage the estate in this way or not, Yoko Ono’s decisions as the executor of the will led to a protracted inheritance dispute that lasted more than a decade. Even now, Julian Lennon says he does not feel he has received his fair share of the estate.
While your estate plan might not be as contentious as Lennon’s, the way your executor handles the will and the choices they make are crucial.
That’s why it’s important to think carefully about who you choose.
You need somebody you can trust to manage your affairs and follow your wishes. It’s also worth considering their relationship with other beneficiaries because any interpersonal disputes could lead to problems when they’re administering the estate.
Lennon’s story demonstrates the importance of creating a robust estate plan to ensure your family are looked after when you’re gone.
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Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
The Financial Conduct Authority does not regulate estate planning or will writing.