Prince's Heirs Have A Major Concern About How His Estate Is Spending Money
By iHeartRadio Staff
February 22, 2018
Sources close to the Purple Wonder's heirs revealed to TMZ that they're "dumbfounded at how much money it costs to manage the late singer's estate." At times, the estate has spent more than $600,000 per month and the heirs feel like there's going to be nothing left for them when it comes time to distribute the inheritance. Prince's sister Tyka Nelson as well as half-siblings Sharon Nelson, Norrine Nelson, John R. Nelson, Omarr Baker and Alfred Jackson were all officially declared as his heirs after he died in April 2016 without a will.
As for what exactly they're spending money on, documents show that Comerica's fee to manage the Prince estate is around $125,000 per month. They also hired law firm Fredrikson & Byron P.A. to rep the estate in court, supervise and coordinate with accountants and offer advice on tax-related endeavors. When it comes down to trademarks, oversea litigation, and proposal work, Fredrikson & Byron P.A. hired additional attorney services.
Still, Comerica isn't trying to hide any of the finances they've invested in as they've broken down all of their expenses in more than 600 pages of invoices. Prince's estate is reportedly worth around $250 million dollars.
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