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giftedviz.com July 27, 2017


Judge confirms Prince's 6 siblings as heirs to his estate

19 May 2017, 11:20 | Max Haynes

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A Minnesota court has determined that Prince's six siblings are the lawful heirs to his fortune and that the Minnesota music icon left no will before his death past year.

According to the Friday court filing, McMillan is serving as a business adviser to John R. Nelson, Norrine Nelson and Sharon Nelson.

In practical terms, the ruling will not immediately hand over Prince's fortune - which is estimated to be worth up to $300 million - to his siblings.

Eide also said Prince's assets wouldn't be distributed without a formal court order and that nothing would be distributed that might adversely affect the claims of those with pending appeals.

The judge's ruling could also provide more clarity on control of Prince's legendary vault of unreleased songs, with question marks already rising over deals sealed since Prince's death. Other documents released Friday show that Universal Music Group and Comerica Bank, the manager of Prince's estate, are moving ahead with plans to terminate the $31 million recorded-music deal announced earlier this year.

Soon after his death, his full sister, Tyka Nelson, filed paperwork with the court seeking to be named his heir and administrator of his estate.

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Singer Prince died after a drug overdose in April previous year.

Prince died on April 21 past year of an accidental drug overdose.

Prince, born Prince Rogers Nelson, died without leaving a will - or at least, none that's so far been found.

However, Prince had cut a new deal with Warner in 2014 that sources say garnered him the rights to the majority of his work released on the label.

The 57-year-old - outwardly a model of health who did not drink, advocated a vegetarian diet and fired musicians who abused drugs - left no will and had no living children who were recognized.



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