Prince's Estate to be Temporarily Administered by Trust Company

Prince's Estate to be Temporarily Administered by Trust Company

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Prince's Estate to be Temporarily Administered by Trust Company news
Kevin Winter, Getty Images

A Minnesota judge has confirmed that Prince did not leave a will behind. Apparently, the late icon was seemingly unable to get his funds in order before his untimely death on April 21.

The legendary musician’s estate is reportedly worth an estimated $150 million, and since there is no written will, Minnesota District Judge Kevin Eide determined the next of kin will inherit the money. In this case, all of Prince’s brothers and sisters, including full-blooded sister Tyka Nelson and his five other half-siblings, will split the money.

According to TMZ, the judge also appointed Bremer Trust, National Association, an affiliate of the bank that provided financial services to Prince while he was alive, to serve as the special administrator of his estate.

However, the judge only ruled Bremer Trust the administrator for up to six months, until a personal representative can be appointed. Hopefully, that’s enough time for his siblings to agree on who the personal rep will be.

The order from Judge Eide comes a day after Prince’s sister, Tyka Nelson, filed a motion to have a special administrator be appointed to gather, protect and handle the musician’s assets. Nelson also noted that their may be other “heirs whose identities and addresses need to be determined.”

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