It’s official: a Minnesota judge has confirmed that Prince did not, in fact, have a will. Because of that lapse in judgment, an estimated $150 million will now be split among his siblings, including sister Tyka Nelson.
Prince, 57, did not get his finances in order before he suddenly passed away on April 21. Less than a week after his death, a judge ruled that his estate would be granted to his next of kin, meaning that it would be divided and split up among his siblings, including his five half-siblings.
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On Wednesday, April 27, a Minnesota court declared that Prince’s estimated $150 million would be divided among his only living next of kin relatives, reports TMZ. Unfortunately for Prince’s estate, the iconic singer who was worth so much never filed a last will and testament with the state of Minnesota. Because of the lack of legal documents regarding his possessions, the court will now estimate exactly how much Prince and his assets are worth and then divide them evenly between his siblings.
The judge declared that Bremer Trust would serve as the administrator of Prince’s full estate, which is reportedly a bank that the singer trusted and did business with for years, according to TMZ. However, the catch is that the bank will only serve as the administrator for six months before a personal representative is declared by the family.
As previously reported, Prince’s only full-blooded sibling, Tyka Nelson, was quick to file and begin probate hearings regarding Prince’s estate shortly after he died. Some readers may already know this, but Prince also has five living half-siblings in addition to Tyka. One of them, his half-brother Omarr Baker, was in attendance at the hearing on Wednesday, April 27 when the ruling was made.
Tell us, HollywoodLifers — Do YOU think this is a fair way to deal with Prince’s estate and assets? Comment below with your thoughts.