Prince’s $150 million dollar estate is up for grabs and since it appears he doesn’t have a will, his only next of kin is his sister, Tyka Nelson and an attorney tells HollywoodLife.com that under Minnesota law his money will definitely go to her but that’s not all!
It’s such a shame that Prince did not live a will because as it stands, his estranged half-sister will get his hard-earned money. The Grammy-winner had a fortune upwards of $150 million and Rod Mason, a Minnesota probate attorney who deals with these types of situations, tells HollywoodLife.com that not only will Tyka Nelson get money but the children of his deceased half-siblings will also get an equal share.
“Unless there is a will and unless there are children, his siblings stand to inherit his estate,” Rod tells us. “Half-siblings are treated the same as full siblings under Minnesota inheritance law. The estate would be divided equally. For those siblings who are deceased, their share goes to their children.” He also suggests that money be put into a trust. “Sometimes people put assets in a trust. A trust can do some of the same things. It’s private and doesn’t have to go thru the court system. Only the people named in the trust can find out about it. People sometimes put assets in trust so that it does not have to go through probate. Advantages of using a trust include a greater ability to keep things private and not in court files which are open to the public; a way of acting quickly without the need for court action or approval. The trust could be in a safety deposit box, in a lawyer’s office, or in any other locations. We don’t know right now. If there is a trust they need to make it known to the people who inherited through the trust.”
We told you that Prince’s sister filed legal documents stating that Prince didn’t have a will. Prince reportedly was wary of attorneys and felt “screwed over” by shady business men over the years. “I do not know of the existence of a will and have no reason to believe that the decedent executed testamentary documents in any form,” Tyka wrote in the probate documents she filed in in Carver County probate court.”
HollywoodLifers, do you think his money should be divided up among his half-siblings?