Prince’s estate is rumored to be valued at $300-million. Whoa. Who gets all that cash?
Tidal? Jay-Z? The family members of one of his ex-wives?
Right now it’s unclear, but given that Prince had a penchant for helping the planet and for helping artists who were down on their luck, it would not be surprising to learn that the Purple One donated his cash gift to Minneapolis, to the families of slain Black men or to any number of social activist or music activist organizations or people.
Most musicians get a percentage of money every time their song or songs are played or performed anywhere. Once an artist dies, the money usually expands exponentially, as radio and theatre and elevator music pays homage to that artist. A death in the music family usually leads to an over abundance of newly-created wealth for someone.
Prince worked so hard to ensure that he and other artists actually owned their work. He was smart, so he probably had a well-laid plan for his post-mortem profits.
Could his sister be named as an inheritor? Fox News seems to think so: “One possible trustee could be Prince’s younger sister, Tyka Nelson, who arrived at his Paisley Park pad Friday with purple hair. “He loved you back,” she told the hundreds of fans who’d assembled around the fence that surrounds his estate.”
Most estate laws vary by state, but typically parents, spouses, children and grandchildren are the people who stand to inherit after a lengthy probate process. Then again, if Prince put his estate in trust, there likely might not be a probate process at all. And if that happens, there won’t be a publicly available paper trail either. Only time will tell how this pans out.
The good news is that no one (as of yet) is cutting the fool in discussing his assets. That’s always refreshing to know.