I have previously discussed the fact that Prince passed away without a will and that his estate will pass via Minnesota intestacy laws. Prince’s sister Tyka Nelson recently filed an emergency motion in the Carver County District Court to appoint special administrator to gather and protect the legendary musician’s assets. Lawyers and intellectual property and estate planning experts predict that it will take years to determine the value of Prince’s massive estate. Prince’s estate includes physical assets like land and equipment, and it also includes the intellectual property he owned from his lyrics and songs as well as trademarks that relate to his image and brand. These assets could be worth up to $100 million dollars and could pay out for many years to come. The full text of the petition filed by Tyka Nelson in the Carver County District Court can be read here.
See Dan Browning,Without a will, it could take years to estimate Prince’s estate, Star Tribune, April 27, 2016.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
