Prince Had a $300 Million Fortune and No Will: Is All Hell About to Break Loose?
Tyka Nelson, also a singer, filed documents in a Minnesota court today petitioning for the appointment of a special administrator who, in light of her late brother having no will, would oversee the distribution of Prince’s assets to her and potential other relatives.
Under state law, if the decedent doesn’t leave a will, their assets are distributed to any remaining relatives. But of course, in this case we’re not just talking about a house, a little cash and the good china.
Not only is Prince’s existing music catalog worth millions of dollars and, like Michael Jackson’s estate, is expected to only increase in value now that he’s gone, but there is now the promise of the existence of a vast vault containing decades’ worth of recordings that have never been heard. And someone is going to get control of all of that musical gold.
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