Money Trouble For Prince Estate
Prince’s estate is in a dicey situation that could result half of his estimated $250 million fortune being taken away thanks to taxes.
The hefty tax bill could also force an expedited sale of the Purple One’s vault of unreleased music and his enchanted Paisley Park Compound, according to reports from NBC and the trustee of his estate.
An attorney for Bremer Trust, the company who oversees the estate, told a Carver County judge that the taxes are due to the state of Minnesota and the federal government by Jan. 21.
Failure to meet the deadline would result in an extra fee. In addition, the value of the property would decrease significantly.
Paternity cases, which are also against the estate, ultimately led to the discovery of the tax debt. The alleged heirs have been ordered to provide a copy of their birth certificates and the final ruling is scheduled for June 27th.