Prince’s Estate Is Closer to Being Divided Up by Court Officials
Court officials are edging closer to dividing up pop superstar Prince’s estate.
The Minneapolis Star Tribune reported Wednesday (Dec. 22) that November tax filings show the Internal Revenue Service and Comerica Bank & Trust, the estate administrator, reached an agreement in November on the total value of Prince’s assets.
The specific number hasn’t been disclosed but it could be more than $100 million. The IRS last year determined Prince’s assets were worth $163.2 million. Comerica put the number at $82.3 million. IRS officials felt Comerica’s total was so low they imposed a $6.4 million accuracy penalty on the estate.
The Carver County probate court still must approve the agreement. The court is set to begin discussions in February on how to divide up the assets.
The estate likely will be divided between New York music company Primary Wave and Prince’s three oldest heirs or their families. Primary Wave bought out all or most of the interests of Prince’s three youngest siblings.
Prince died of a fentanyl overdose at his Paisley Park home in Carver County in April 2016. He didn’t have a will.
Link to the source article – https://www.billboard.com/business/legal/prince-estate-divided-up-court-officials-1235013819/
-
Asmuse 39 Inch LP Electric Guitar Kit, Solid Body Les Paul Style Electric Guitar With Volume/Tone Controls, 3-Way Pickup (Black)$159,99 Buy product -
Dean EABC Cutaway Acoustic-Electric Bass Guitar – Natural$310,00 Buy product
-
Civil War Era Brass Bugle US Military Cavalry Style Horn New by MB$48,99 Buy product
-
AKAI Professional MPK249 – USB MIDI Keyboard Controller with 49 Semi Weighted Keys, Assignable MPC Controls, 16 Pads and Q-Links, Plug and Play$329,00 Buy product
-
Tario Left-handed 4 String Black Electric Bass, Bolt-on Maple Neck, Poplar Body$179,99 Buy product
-
RCF Powered 8″ Studio Monitor, Black – RAL 9005, AYRA-Eight-PRO$299,00 Buy product
Responses