Estate Planning and Legacy Law Center, PLC

Special Administrator Named to Handle Prince Estate

Problems may loom in estate of entertainer Prince despite agreement of probable heirs at this time.

The Bremer Trust has been named to oversee the estate of the late entertainer Prince by a Minnesota judge, according to a Star Tribune report in "Judge confirms appointment of special administrator on Prince's estate."

It appears as if Prince did not leave a will and under Minnesota law the estate will be divided between Prince's six siblings and half-siblings unless other claims to the estate are found to be valid.

Five of those siblings or half-siblings were present in court when the special administrator was appointed. The family is still searching for a will.

During the same hearing one early claim to Prince's estate was dismissed by the judge. A California man claimed that an implied agreement gave him the copyrights to all of Prince's musical works. The family called the claim frivolous and the judge apparently agreed.

Other claims, more potentially threatening to the known siblings and half-siblings, are starting to appear.

An Illinois woman appeared at the hearing though an attorney with a claim that she is a previously unknown half-sibling. If true, she would have a claim to an equal share of the estate as the other siblings and half-siblings. It is also possible that Prince had a previously unknown child who would have a claim to the entire estate and one man has come forward and made such a claim.

Reference: Star Tribune (May 3, 2016) "Judge confirms appointment of special administrator on Prince's estate."

 

 

*For a free guide on Estate Planning Mistakes you or your loved ones may be making visit this link.*