Prince’s Death Shows Importance of Will

Last Will ConceptIt appears that musical superstar Prince died without writing a will. It means his relatives will likely be in court for years trying to sort out the mess.

His estate is estimated at $300 million.

With no wife or children, those first in line are his six siblings. Under court rules governing inheritances without a will, each siblings will get an equal share, whether he he was fond of them or not.

His siblings may also become targets of people trying to exercise business interests that are not favorable to them, and even if the siblings got along, the pressures can divide them, says a story in the Chicago Tribune.

The situation with Prince is complicated by the fact that only two of the six are full siblings. The half-siblings reportedly accused the full siblings of trying to get a bigger chunk of the estate, according to a report on TMZ. But that doesn’t matter under Minnesota law. Stay tuned.

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