Will a Significant Tax Bill Take Half of Prince’s Estate?

The trustee for Prince’s estate has revealed that a sizeable tax bill could wind up taking half of his estimated $250 million estate, which could potentially force an early sale of his unreleased music. In order to meet a fee deadline for the tax bill, many of Prince’s non-cash assets will have to be sold. Representations for all parties are working to avoid an inevitable fire sale if the deadline is not met.

See Lindsay Kimble, Taxes Could Wipe Out Half of Prince’s $250 Million Estate and Force Early Sale of His Unreleased Songs, Trustee Says, People, June 8, 2016.

Special thanks to Jim Hartnett (The Hartnett Law Firm) for bringing this Article to my attention.