Wednesday, April 27, 2016

Apparently Prince died without a will

Here's the report that his sister has asked for a special administrator to be appointed for the estate.  She states that she is unaware of any testamentary instruments.  Happily, Prince was already working with Bremer Trust in St. Cloud, MN, so she asked that they be appointed.

With Prince being so intensely private in life, many are surprised that he ignored his estate planning. But did he?  Might he have employed trusts for his wealth management, the terms of which might never be made public?  Might he have concealed these matters from his siblings?  Not impossible, given the friction over the settlement of their father's estate in 2001.

I was going to jump on this story for our publications, but now I think I better wait a bit, to see if there is more to the story.

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