Prince’s bequest still unsettled nearly year after death

MINNEAPOLIS — A year after Prince died of an accidental drug overdose, his Paisley Park studio complex and home is now a museum and concert venue. Fans can now stream most of his classic albums, and a remastered “Purple Rain” album is due out in June along with two albums of unreleased music and two concert films from his vault.

Prince left no known will and had no known children when he died April 21, and the judge overseeing Prince’s estate has yet to formally declare six of his siblings as its heirs. However, those running the estate have taken steps to preserve his musical legacy and keep the cash coming in. Paisley Park, which is run by the company that runs Elvis Presley’s Graceland, opened for public tours in October.

Barring any surprises, six Prince siblings will get equal shares of his estate, which court filings have suggested is worth around $200 million. Federal and estate taxes are expected to consume nearly half of that.

Judge Kevin Eide wrote last month that he was “reasonably certain” he’ll ultimately declare the heirs to be Prince’s sister, Tyka Nelson, and his half-siblings Sharon Nelson, Norrine Nelson, John R. Nelson, Omarr Baker and Alfred Jackson. After Prince died, more than 45 people filed claims purporting to be his wife, children, siblings or other relatives. They’ve all been rejected, but Eide has said he’ll wait for some appeals to run their course before making a final ruling.

With so much money at stake, there’s been some infighting. Court documents and testimony show that the siblings disagreed over who should control the estate, eventually settling on Comerica Bank and Trust as the executor.

The older half-siblings also wanted a co-executor, former Prince attorney L. Londell McMillan, who was a key figure in the deals for monetizing Prince’s entertainment assets.

But Tyka and Omarr opposed McMillan, questioning his fitness to serve and accusing him of mismanaging a family tribute concert last October. They wanted CNN commentator Van Jones, who advised Prince on philanthropy. Citing the siblings’ inability to agree, the judge put Comerica in sole control.