Superstar Prince – Super Battle over his Estate

Estate Planning, Wills And Trusts

A Minnesota Judge rules that six siblings are the heirs to Prince’s Fortune
The music superstar Prince did not have a will! A judge just ruled that his six siblings are heirs to his fortune, but many more people are claiming to be heirs to the legend’s over 25 million-dollar estate. Prince’s assets will not be distributed to his heirs without a formal court order. If an appellate court rules that rejected claimants could possibly have a claim, than more heirs may be found.

A judge has also recently blocked the planned release of a new Prince six-song EP entitled “Deliverance” which had been scheduled to be released on the first anniversary of Prince’s death, but is now on perpetual hold until the estate can be settled.

So what happens now? We will have to wait to see who will obtain the fortune; and the world will have to wait until we can hear new music from the superstar who passed away last year. Lesson learned: We may not all have Prince’s fortune, but everyone must have a will. Even the most modest estates must have an estate plan; or a family may have to deal with a protracted legal battle just to see who the heirs will be.

Here is the link to the original Reuters article regarding Prince’s six siblings from May 20, 2017: Six Siblings designated Prince’s Heirs.

Share:

Share on facebook
Share on twitter
Share on linkedin

More Posts

Jakob Legal helps a senior couple with Health Care Directives sitting together on plaid at sandy beach.

Its Medicare Advantage Season

Now is the annual opportunity to change medicare coverage. From Oct. 15 until Dec. 7, enrollees can shop Medicare’s marketplace for the prescription drug and Advantage plans offered by commercial insurance companies. They can also switch between fee-for-service original Medicare and Advantage.
And they will have plenty of choices: Next year, the typical Medicare enrollee will be able to choose from 57 Medicare prescription or Advantage plans that include drug coverage, according to the Kaiser Family Foundation.

Senior man and woman couple embracing at sunset or sunrise on a deserted tropical beach. They relay in Jakob Legal for Probate

Seniors Starting Businesses for their Contemporaries

Many entrepreneurs are successfully navigating new opportunities in serving their own peers.

Specifically, the article discusses the new career of “Patient Advocates” for the Elderly who are helping the adult or “sandwich generation” children navigate the complex and, sometimes horrific, medical system.

13 Estate Planning Terms You Need to Know

Estate planning is not just for the wealthy, it is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you become ill, minimizing taxes so you can pass more wealth onto your family members, and stating how and to whom you would like to pass your estate on to when you pass away.

The Future of Eldercare is Bright

An organization called Hogeweykh is spreading the initiative to support all elderly individuals in living their best lives “with and despite their limitations due to dementia” with their care concept.

Please Contact Me

Skip to content