During Prince’s longstanding career, we saw him part with his record label, change his name, and yank his songs off popular streaming services all to prove a point—no one could tell him what to do. Although his desire to control his music inspired other artists, this limited exposure could hurt the value of the late singer’s music. Without a will, Prince’s wishes will take a backseat because his estate administrators are under a court mandate to get the most for his 1,000-song catalog. The estate administrators have a legal responsibility to maximize the return on his music, which most likely goes against his wishes, in order to pay the looming estate tax bill.
See Lucas Shaw, With No Will, Prince Loses the Control He Zealously Guarded, Wealth Management, January 18, 2017.
