In the past week, several stories regarding claims to Prince’s estate have been reported that have sparked the interest of estate planning professionals across the United States.
First, an inmate in Colorado has come forward claiming to be the biological son and legal heir to Prince’s estate. His petition to the Minnesota probate court seeks a hearing and a court order for genetic testing of Prince’s DNA. Approximately one week later, two other individuals claiming to be relatives of Prince came forward seeking a piece of the famed musician’s estate. The individuals claim to be the daughter and granddaughter of Prince’s late half-brother who died in 2011.
According to Minnesota intestacy laws, Prince’s estate will be distributed in equal shares to his siblings and the nearest surviving descendents of any siblings now dead. As a result, resolving these issues will be crucial to determine who will lawfully be entitled to his estimated $500M estate.
Ariel Bedell is a Shareholder at The Loftin Firm. For questions relating to any other California real estate, corporate governance, land use, or estate planning matter, contact Ms. Bedell at .