No will? Prince's sister wants the bank to watch over his estate - Bring Me The News

No will? Prince's sister wants the bank to watch over his estate

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Who's going to get Prince's Chanhassen home, fortune and other belongings? That question is still up in the air as Prince's only full sister, Tyka Nelson, says he did not leave a will.

Typically, belongings would be given to a spouse or parents. But since both parents are deceased and the musician wasn't married, it appears Nelson is next in line. However, there are five surviving half siblings to consider.

Because Prince's assets are so high in value and it hasn't been decided what will happening with them yet, Nelson filed a petition in court to appoint a special administrator.

Simply put, a special administrator is a temporary fiduciary – or representative – appointed to preserve assets until a permanent fiduciary has been decided upon.

According to the documents, Nelson asked that Bremer Trust be appointed to protect the assents in the meantime. Nelson also listed the five other siblings as heirs.

And the bank accepted, see the signed document here.

Bremer Trust is affiliated with Bremer Bank and the documents say Prince did business with the bank for a "number of years."

According to USA Today, Prince's estate could have a value up to $300 million.

And the value of the rest of the musician's belongings and funds are not known yet.

Hollywood Life says figuring out who gets what could be a very complicated process if no will turns up.

For example, Prince was involved with the Jehovah's Witness Church so he could have intended for some money to go there.

Additionally, what's going to happen with his music library? And the unreleased projects? And royalties?

The musician's funds have been growing. Following his death, album sales skyrocketed.

Those are all questions that need to be addressed, and appointing a special administrator could help manage everything until the details get sorted out.

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