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  • Prince's Family Claim That The Artist Had No Known Will

    Wed, 27 Apr 2016 15:49:24

    Prince's Family Claim That The Artist Had No Known Will -

    Prince Photos

    • Prince - LOS ANGELES, CA - JUNE 27:  Singer Patti LaBelle (R) presents the Lifetime Achievement Award to Prince (R) during the 2010 BET Awards held at the Shrine Auditorium on June 27, 2010 in Los Angeles, California.
    • Prince - LOS ANGELES, CA - JUNE 27:  (L-R) Musicians Patti LaBelle, Janelle Monae, Esperanza Spalding and Alicia Keys perform a tribute to Prince during the 2010 BET Awards held at the Shrine Auditorium on June 27, 2010 in Los Angeles, California.
    • Prince - LOS ANGELES, CA - JUNE 27:  Musician Esperanza Spalding performs a tribute to Prince during the 2010 BET Awards held at the Shrine Auditorium on June 27, 2010 in Los Angeles, California.

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    Prince Videos

    • Prince - Baltimore (ft. Eryn Allen Kane)
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    Prince's sister Tyka Nelson said the singer had no known will and requested she be named an administrator of his estate. Nelson is Prince's only surviving full sibling, Rolling Stone reports, although, Prince has three surviving half-siblings. Now, "A Minnesota judge appointed a corporate trust company on Wednesday to temporarily oversee Prince's multimillion-dollar estate, saying the emergency appointment was necessary because the superstar musician doesn't appear to have a will and immediate decisions must be made about his business interests," the Associated Press reports.

    Judge Kevin Eide granted Nelson's request to appoint Bremer Trust as special administrator. The Judge noted the corporate trust company's affiliate, Bremer Bank had provided financial and business services to Prince in the past.

    "The judge said Nelson and one of Prince's half-brothers, Omarr Baker, were part of the telephone conference that prompted his decision Wednesday. The judge said no one objected to appointing a special administrator.

    Under Minnesota law, if a person dies without a will - and with no surviving parents, children, or grandchildren - the next people in line to share in the estate are the surviving siblings, including half-siblings. Prince wasn't married and had no known living children," The Associated Press reports.

    At this time, it's unclear how much Prince's estate is worth, though his albums and tours are valued to have earned hundreds of millions. Prince's real estate holdings-- which include the Paisley Park complex, his famed house and recording studio outside Minneapolis--is worth approximately $27 million, The AP reports.

    In the days following Prince's death, record sales have surged. Three Prince albums sit atop the Billboard Top Ten: The Very Best of Prince at Number 1; Purple Rain at Number 2; and The Hits/The B-Sides at Six, Rolling Stone reports.

    For More on Prince, check out:

    Prince Has Passed Away At the Age of 57

    —The ARTISTdirect Staff
    04.27.16

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