Cue the ugly legal battle over Prince’s estate
Prince’s sister believes the superstar musician didn’t have a will and has asked a Minnesota court to appoint a special administrator to oversee his multimillion-dollar estate, according to court documents filed Tuesday that could signal a looming fight over Prince’s assets.
The documents don’t estimate how much his estate may be worth, but Prince made hundreds of millions of dollars for record companies, concert venues and others during his career.
And estimates of how much licensing his personal brand will generate after his death reach to the purple clouds.
In just three days, the outpouring of grief and nostalgia after his death prompted fans to buy his songs 2.3 million times.
Prince died Thursday at his famous Paisley Park complex in suburban Minneapolis, and he owned a dozen properties around the area, mostly rural land and some houses for relatives, worth about $27 million (all figures U.S.), according to public records.
If he left no will or trust, divvying up his fortune could get complicated, said Susan Link, a top Minnesota probate lawyer. Link, who isn’t involved in the case, said lawyers will need to get Prince’s siblings to agree on asset distribution and that it could get extremely complicated if they don’t.
Tuesday’s court filing by Tyka Nelson, Prince’s only surviving full sibling, said she had “no reason to believe” that Prince executed a will or any other documents saying what should happen to his estate upon his death. Nelson said she doesn’t know her brother’s assets or debts, but said he had “substantial assets” that require protection.