Still no will: Process to decide what happens with Prince's estate begins - Bring Me The News

Still no will: Process to decide what happens with Prince's estate begins

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The process to determine what happens with Prince's estate began Monday morning.

Prince's siblings attended a standard probate hearing in Carver County District Court, where the judge formally appointed a special administrator for the artist's estate. Prince, who died at Paisley Park on April 21, left no known will and has no surviving children or parents.

Monday's hearing was procedural – the court named Bremer Trust, National Association as the administrator of Prince's estate in an emergency hearing last week following a request from Prince's sister, Tyka Nelson.

The hearing gave Prince's half-siblings – John Nelson, Norrine Nelson, Sharon Nelson, Alfred Jackson, Omar Baker and the late Lorna Nelson, who have all been named as potential heirs – the chance to approve Bremer Trust as the special administrator, which they did.

https://twitter.com/LouRaguse/status/727138575024705536

WCCO says all six siblings expressed confidence in Bremer Trust handling Prince's estate, and agreed to communicate with one another throughout the process.

Bremer Trust will be in charge of Prince's estate for up to six months, or until another administrator can be chosen.

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A 'unique' case

Attorney Joe Tamburino, who isn't involved with Prince's estate, spoke to KARE 11 about the case, calling it "unique," noting he's never heard of a situation like this in Minnesota.

“We are dealing with Carver County, which is a small suburban county, and an estate that could be worth a half-billion dollars. This is a walk on the moon for many of the parties in this case," Tamburino told the news station.

ABC News says that if state law is followed and no will is found, Prince's estate will be divided between his six named siblings.

It's not clear how large Prince's estate actually is, but USA Today estimates it could be worth up to $300 million, while others estimate higher once the musician's other belongings and funds are added up.

https://twitter.com/PaulBlume_FOX9/status/727138465427521537

MPR News goes into detail on how much Prince's estate could actually be worth – and how much money the estate could make following his death. Read that story here.

KSTP says the process to determine Prince's estate – and what happens to it – could take months.

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