Prince’s estate—encompassing his music, image, likeness and property—is seen as compelling and lucrative, but it has been in flux for five years. The estate has been tied up in probate with a bank, lawyers, advisers and heirs haggling over fees and the reclusive artist’s assets, unreleased music and legacy.In 2017, a year after Prince’s death, a Minnesota judge ruled that Prince’s sister, Tyka Nelson, and five half-siblings were heirs to the singer’s estate.
Chief Executive Larry Mestel said Primary Wave intends to work closely with Ms. Nelson and the remaining heirs to “tastefully and organically put large opportunities in place that Prince would feel proud of.” He noted the parties have grown in cooperation. “There’s a lot more camaraderie with the constituents now.”Ray Tang/Zuma Press
“No matter what, we are going to fight to preserve the legacy of Prince,” he said. “We would like to bring the purple back and actually do things the way Prince did.” Late last year, the IRS said executors undervalued the estate by about 50% and that it is worth $163.2 million. Last month, the IRS and the estate reached agreements on the fair market value of Prince’s real-estate assets, an indication that a larger settlement could be reached within the year, say those with expectancy interests in the estate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: etnow - 🏆 696. / 51 Read more »
Source: DEADLINE - 🏆 109. / 63 Read more »
Source: PreventionMag - 🏆 141. / 63 Read more »
Prince Harry's Friends Are Reportedly Asking Him Not to Write About Them in His MemoirSome of Prince Harry's friends from Eton and the military are reportedly asking him not to write about them in his memoirs for fear it could hurt their careers.
Source: marieclaire - 🏆 102. / 63 Read more »
Source: marieclaire - 🏆 102. / 63 Read more »
Source: hellomag - 🏆 24. / 68 Read more »