Prince have reached an agreement over the division of his $156million (£128million) estate.Prince died aged 57 in April 2016 following a fentanyl overdose.
The musician did not have a will at the time of his death and with no spouse or children, all of Prince’s estate passed to his six half-siblings.Half of those inheriting the estate sold their shares to a company, Primary Wave, that bought the rights to Prince’s back catalogue last year.
The other three kept their shares an hired longtime Prince adviser L Londell McMillan and Charles Spicer to manage them (via The Guardian).On Monday (August 1), a judge in Minnesota signed off on the agreement, to split Prince’s estate among the three remaining heirs, their families, the advisers, and Primary Wave.In a statement obtained by Billboard, a Primary Wave spokesman said they were “extremely pleased that the process of closing the Prince estate has now been finalised”.It went on: “Prince was an iconic superstar and this transfer out of the court’s jurisdiction puts in place professional, skilled management.
When we announced our acquisition of the additional expectancy interests in the estate last year bringing our ownership interest to 50%, our goal was to protect and grow Prince’s incomparable legacy.
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