The iconic pop star’s fortune is being distributed to his heirs 6 years after his death. How much is it valued at and who ultimately inherits it since Prince had no children or spouse.
The high-profile case over the division of pop star Prince’s estate came to an end today, a full six years after the singer’s death, as a Minnesota judge signed off on an agreement dividing $6 million in cash, music royalties and other intangibles. property to his heirs.
Prince died suddenly at his home in Minneapolis after a fentanyl overdose.
The musician had left no will and also had no spouse or children, so his $156 million fortune automatically passed to his 6 half-siblings.
However, because they could not reach a division of the property, they were taken to court several times in the last 6 years.
Of Prince’s 6 half-siblings, however, 3 have sold their stake to the label Primary Wave, which also bought the musician’s extensive catalog of songs last August.
The other three heirs, who hired longtime advisers to Prince L. Lodell McMillan and Charles Spicer, kept their stake and agreed to a $156 million valuation of the estate jointly with the Internal Revenue Service and Comerica Bank and trustee of the property.
Thus, the settlement for Prince’s estate was completed on Monday 1/8, when a Minnesota judge signed the agreement dividing the estate between the 3 heirs and their families, advisors and Primary Wave.
A spokesperson for Primary Wave said they were “extremely pleased that the completion of the process for Prince’s estate has now been finalised”.
McMillan and his colleagues, on the other hand, felt “relieved and excited that we finally got rid of the court system and the bankers who don’t know the music business and didn’t know Prince.”
SOURCE: GUARDIAN
Read the News today and get the latest news. Follow Skai.gr on Google News and be the first to know all the news.
