The late Prince Rogers Nelson allegedly did not have a will made out before his untimely death, according to full blood sister, Tyka Nelson. Minnesota’s Star Tribune, April 27, 2016, reported that Tyka filed a petition to appoint an emergency administrator to handle Prince’s estate. Many reports that having no will could make this a messy and long drawn out process.
In Tyka Nelson’s petition, she listed herself and 8 half-siblings, because Minnesota law requires that full siblings and half siblings receive equal shares. Two of their half-siblings are deceased, Lorna passed away in 2006 and Duane died in 2011. Minnesota law states that if the deceased siblings had children, whatever inheritance would have gone to the parents would go to the kids.
Nelson’s filing requests the appointment of Bremer Trust in St. Cloud, Minnesota as the special administrator, noting that it handled Prince’s financial affairs for several years. Today during the hearing, a judge has approved Tyka’s request to have the Bremer Bank handle his estate, including his personal and financial business.
Bremer Trust has been tasked to “preserve the estate and to secure its proper administration until a general Personal Representative is appointed by the Registrar or by the Court,” according to the documents.
The bank will have to locate all the heirs: Full sister Tyka Nelson, half-brothers, John Nelson, Alfred Jackson, Omar Baker, and half-sisters, Norrine Nelson and Sharon Nelson. Although the petition did not mention deceased half-brother Duane Nelson, it did include their half-sister, Lorna Nelson, along with the fact that Lorna didn’t have any children.
Many people think that there are too many relatives and with so much money at stake, tempers will flare and there could be an all-out brawl over who gets what and how much. No one seems to know his exact worth is with his music and property.
The Minnesota Star Tribune talked with Laura Zwicker from the Los Angeles Greenbert Glusker law firm. Prince was a very private person and if he put his assets into a private trust, everything would remain private and kept from public view.
Laura said, “The will would be irrelevant if the trust was created and funded during his lifetime. Everything would remain private. Values would remain private. Disposition of assets would remain private, his wishes would remain private.”
It all depends on whether Prince planned to keep things private, or if it is like his will and he didn’t think that far ahead.
“The key takeaway from a number of celebrity deaths over the last couple of years is that really good planning allows the client to maintain privacy after death, and lack of planning sort of causes all of the walls that they’ve built around their life to come tumbling down.”
The Nelson family had dealings in another estate settlement when their father, John Louis Nelson, died in 2001. Prince was appointed as the estate’s administrator or representative, but his half-sister Lorna had problems with the way he handled things. She claims that Prince completely undershot the value, and only listed their father’s estate assets as $200 cash.
According to the website, Lorna said, “she later learned that Prince was claiming the assets totaled $329,000 spread out over four bank accounts.” However, she believed there was much more money involved that Prince did not declare. She accused Prince of not declaring John’s assets, including jewelry, royalties from the various songs he wrote, musical instruments and he apparently had a pension from Honeywell where he worked for 30 years.
Because so much money is at stake, one wonders if the family members will be fighting again or if they can get along peacefully and believe the numbers that the administrator shows. Post your opinion below on whether this will be a nasty fight or end peacefully.