Prince never made a will despite having an estimated $300 million in assets, creating strife amongst his siblings in determining how to divvy up the funds. However, his sister Tyka Nelson has been named executor of the estate and has been meeting with her brothers Alfred and Omarr to make some decisions.
Under Minnesota state law, Prince’s six siblings all have a right to an equal share in the estate.
Despite the disagreements over what should be done with the influential musician’s song catalogue, a legal request has been filed to begin the sale of all the properties he owns. This includes homes in Beverly Hills, Minnesota, New York and a vacation home in Turks and Caicos.
The vacation home alone is worth approximately $12 million. The Caribbean mansion features 10 bedrooms and an equal number of bathrooms. Though purchased in 2010, the “Purple Rain” artist never got around to furnishing it, apart from a few movie memorabilia items.
TMZ has reported that only offers of at least 90% of the fair market value for the various homes will be accepted.
It seems a bit strange that so far none of the properties will be held onto, either for purely sentimental reasons or as memorial sites. However, the musician’s family hasn’t exactly been focused on mourning in the past months. Instead, they seem more determined to fight over who gets the largest share of Prince’s property and how they can capitalize on what he owned.
One would think that after the years and years he made music, his family would have garnered some sort of attachment to what he created. Instead, it seems fans of the artist hold his works in much higher realms of sentimentality than his own family.