Prince's Estate , Gets a $156.4 Million Final Valuation, , Ending Legal Battle.
Prince's Estate , Gets a $156.4 Million Final Valuation, , Ending Legal Battle.
NBC reports that a six-year long legal battle over the estate of late pop superstar Prince has ended.
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NBC reports that a six-year long legal battle over the estate of late pop superstar Prince has ended.
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The conclusion reportedly signals that the process of distributing Prince's wealth could begin as soon as next month.
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According to the 'Minneapolis Star Tribune,' the Internal Revenue Service and Comerica Bank & Trust, the estate's administrator, agreed to value the estate at $156.4 million.
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According to the 'Minneapolis Star Tribune,' the Internal Revenue Service and Comerica Bank & Trust, the estate's administrator, agreed to value the estate at $156.4 million.
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ABC News reports that the artist's heirs have accepted that figure, which dwarfs an earlier appraisal of $82.3 million by Comerica.
ABC News reports that the artist's heirs have accepted that figure, which dwarfs an earlier appraisal of $82.3 million by Comerica.
In 2020, the IRS reportedly valued the estate at $163.2 million.
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In 2020, the IRS reportedly valued the estate at $163.2 million.
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Prince died in 2016 of a fentanyl overdose, and the musician reportedly did not leave a will.
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Prince died in 2016 of a fentanyl overdose, and the musician reportedly did not leave a will.
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In the time since his death, ABC reports that two of Prince's six sibling heirs, Alfred Jackson and John R.
Nelson, have died.
In the time since his death, ABC reports that two of Prince's six sibling heirs, Alfred Jackson and John R.
Nelson, have died.
Two of the other heirs are reportedly in their 80s.
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ABC News reports that the estate will be divided between a New York music company, Primary Wave, and three of the music icon's oldest heirs or their families.
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ABC News reports that the estate will be divided between a New York music company, Primary Wave, and three of the music icon's oldest heirs or their families.
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According to ABC News, the IRS and Comerica settled the complicated task of valuing the estate's intangible assets, such as the rights to Prince's music in October.
According to ABC News, the IRS and Comerica settled the complicated task of valuing the estate's intangible assets, such as the rights to Prince's music in October