Prince Rogers Nelson, more popularly known as Prince, left an estimated $300 million fortune but no will for a true heir. A petition was made asking for a special administrator to take charge of the estate before legal claims for inheritance are made.
According to USA Today, Prince's sister Tyka Nelson revealed that the recording artist left no will after he expired suddenly at his Paisley Park compound in Minneapolis, Minnesota on April 21. Nelson, Prince's only full sibling, filed the documents on April 26 in probate court for Carver County, Minnesota and petitioned for immediate action for the management and protection of her brother's substantial assets.
Nelson petitioned for the appointment of a special administrator for her brother's estate valued at $300 million. She asked that corporate trust company Bremer Trust be named administrator for the estate. Court documents revealed that Bremer Bank managed Prince's finances for many years.
In addition to Nelson, Prince is survived by half-siblings who Nelson named in the petition as "interested parties" to inherit the fortune. The half-brothers and half-sisters listed in the petition include John Nelson, Norrine Nelson, Sharon Nelson, Alfred Jackson and Omar Baker. Lorna Nelson, another half-sister, was named although she is already deceased.
Although the total amount of Prince's fortune remains unclear, it includes $27 million in property in Minnesota. According to CBC News, Prince also made millions of dollars in the music industry from recording companies, concerts and appearances.
According to Inside Edition, tax attorney Bruce Givner revealed that the estate will be inherited by his living siblings. He said, "Minnesota, like every state, has what is called an intestacy law. Intestacy meaning there is no governing document. The state has a law that says who gets it when you die... Minnesota says when there is no spouse, when there are no children, when there are no parents, it goes to the heirs of the grandparents. So, this is going to be split among his siblings." Givner is not involved in the case.
The 57-year old music legend was found dead in an elevator in his Paisley Park compound although his cause of death is yet to be determined. A private memorial service attended by close family members and friends followed on April 23. He left no surviving spouse, children nor parents.
