AS PRINCE HEIRS STEW, BANKERS AND LAWYERS CASH IN ON ES­TATE

The Day - - WORLD & NATION -

Min­neapo­lis — As the sec­ond an­niver­sary of Prince’s death ap­proaches, the rock star’s heirs have yet to col­lect a dol­lar of his es­ti­mated $200 mil­lion es­tate. But bankers, lawyers and con­sul­tants have earned mil­lions from it. The long saga to set­tle the es­tate pro­vides a cau­tion­ary tale about what can hap­pen when some­one dies with­out leav­ing a will — as Prince did when he died of an ac­ci­den­tal opi­oid over­dose at his Pais­ley Park stu­dio April 21, 2016 — and the heirs can’t quit squab­bling. Even though it’s been nearly two years since Prince died, the ex­ecu­tor, Comer­ica Bank and Trust, can’t split the money among Prince’s six sur­viv­ing si­b­lings un­til the In­ter­nal Rev­enue Ser­vice ap­proves. It’s not clear when that might hap­pen.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.