Prince
After more than six years after his death, a judge in Minnesota has issued a ruling on the state of the late music superstar Prince, who did not have a will when he passed away.
According to Billboard, the agreement will allow for the dispersing of $6 million in cash and much more in music rights and royalties between three heirs, their families, their advisers and music publishing company Primary Wave, which owns approximately half his estate.
Prince’s lack of a will, as well as the fact that he had no children or a spouse, led to a complicated, years-long battle over how to handle his assets. His six half-siblings were named his legal heirs, but three of them have sold most or all of their shares to Primary Wave, while the other three did not.
“Prince was an iconic superstar and this transfer out of the court’s jurisdiction puts in place professional, skilled management,” Primary Wave said in a statement to Billboard. “When we announced our acquisition of the additional expectancy interests in the estate last year bringing our ownership interest to 50%, our goal was to protect and grow Prince’s incomparable legacy. With the distribution of estate assets, we look forward to a strong and productive working relationship.”
