Probating Prince’s Estate: Who Will End Up With the Singer’s Substantial Intellectual Property?
Within days after Prince’s April 21, 2016 death, newspaper and television stories concerning problems involving the legendary performer’s substantial estate began to appear. To begin with, it was widely reported that the value of the estate of the 57-year old resident of Chanhassen, Minnesota, could be worth as much as $300 million. Moreover, the singer, born Prince Rogers Nelson, was not known to have a will. 1 The supposed problems with the estate presented by the star’s unexpected death fell into four categories: (1) how would the intellectual property in the estate be valued, (2) who would serve as the executor or administrator and thus control the distribution of the property, (3) who would be entitled to inherit Prince’s property if there is no will, and (4) what would happen if a will surfaced?