ADVERTISEMENT
About Our People Legal Stuff
AP_16234681704965.jpg

Judge is in no hurry to determine Prince's heir in $200 million estate case

0

A judge overseeing Prince's estate on Thursday announced he will wait for appeals to be exhausted before making a final determination on who will inherit a fortune that could be worth around $200 million.

Carver County District Judge Kevin Eide at a hearing Thursday said the late superstar's six confirmed siblings are the likely heirs, although Prince did not leave a will prior to his death in April of a painkiller overdose.

The judge has rejected claims from several other people to be Prince's child, sibling or wife.

"The court cannot make a determination of who the heirs are until these appeals are exhausted," Eide said. That process typically takes several months or more.

Prince's sister, Tyka Nelson, and his five half-siblings also want Comerica Bank and Trust to take over running the estate from temporary special administrator Bremer Trust. Attorneys for the two institutions said they expect a handover at the end of the month. 

Eide also heard testimony but did not immediately rule on whether he should appoint an individual as a "co-personal representative," to act in part as a go-between Prince's siblings and Comerica. Both candidates were Prince insiders.

Court filings suggest the estate is worth around $200 million. The estate faces a Jan. 21 tax filing deadline. Federal and state estate taxes are expected to gobble up about half the value, although the estate can pay over time.

--The Associated Press contributed to this report.

Comments
Read Comments
Comments
ADVERTISEMENT
Facebook Twitter Instagram Pinterest Linked In List Menu Enlarge Gallery Info Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down Bookmark