Because Prince died intestate (i.e., without a will), nearly half of his assets could go to Taxes
At a June 7th hearing this year, Douglas Peterson, attorney for Bremer Trust, said the special administrator has a duty to maximize the value of Prince’s estate and that any delay in entering negotiations would interfere with its exercise of that duty.
Because Prince died intestate (i.e., without a will), nearly half of his assets could go to pay State and Federal taxes, which are due on January 21, 2017, attorney Peterson told the Hollywood Reporter. His Estate has been variously estimated at $100 million to $500 million–it’s hard to value future residuals on “Purple Rain” and other albums.
Prince did on April 21 of what the Coroner called an accidental Fentanyl overdose. Following an autopsy, his remains were cremated, and their final disposition remains private. On April 26, 2016, Prince’s sister and only full sibling Tyka Nelson filed court documents in Carver County, Minnesota, to open a probate case, stating that no will had been found; Prince’s five half-siblings also have a claim to his estate.
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