Fury said:

Unlike wills and probate court proceedings, such trusts can be kept confidential from the public. If Prince chose this route, it's possible we may never know the true extent of his estate or his plans for it after his death. "Usually, wealthy, organized people or sophisticated celebrities use trusts that are set up while they're alive, to determine (what happens after death) in a confidential way, they're not public documents," says Koznitsky. "They don't want the world to know who their beneficiaries (the heirs) are, or special dispositions, etc." USA today

This makes far more sense than there being nothing at all.

I can't understand how someone who worked so hard to control and own his music would not have a plan. But this is Prince and in a wierd way this goes right down his lane. I don't get it and as such I will sit back and watch it all come out in the end.

I've mentioned this in other threads but I just cannot imagine Prince not having a will...When he was with Mayte that seemed like the most logical time he would have made one. Obviously it would have been changed after he divorced Mayte and then Mani..Heaven forbid anything happened to him in back then, but would he have risked having a bunch of lawyers and vultures trying to get as much money as they could?

HatrinaHaterwitz said:

Oh there's a will somewhere. He just didn't tell Tyka about it. Because for someone who fought so ferociously to protect his privacy, his image, music and to regain his masters, thete's no way he did think to leave a will with very specific instructions on what would happen to all of that after his demise. He was entirely too much of a control freak for that.

If a will isn't discovered soon, control freak or not, his estate will pass to next of kin.

Identity said:

HatrinaHaterwitz said:

Oh there's a will somewhere. He just didn't tell Tyka about it. Because for someone who fought so ferociously to protect his privacy, his image, music and to regain his masters, thete's no way he did think to leave a will with very specific instructions on what would happen to all of that after his demise. He was entirely too much of a control freak for that.

If a will isn't discovered soon, control freak or not, his estate will pass to next of kin.

I get that but that would also mean that all the control freakish things he did in life to "protect" his legacy and such was all for nothing. That's just too fucked up to even contemplate.

I'd like to think that in that vault maybe there is a video will.

He may not have liked contracts or signing things, but I can completely see him doing a video will and putting it in the vault.

They need to go through all those contents very soon and meticulously in order to catalog and make sure all is accounted for. He had to have a master list of some sort.

It is also possible that he just didn't "get around to it yet" not thinking his last days were coming so quickly.

BklynDiamond said:

I'd like to think that in that vault maybe there is a video will.

He may not have liked contracts or signing things, but I can completely see him doing a video will and putting it in the vault.

They need to go through all those contents very soon and meticulously in order to catalog and make sure all is accounted for. He had to have a master list of some sort.

It is also possible that he just didn't "get around to it yet" not thinking his last days were coming so quickly.

.

This is a very interesting thought...

What is worse is that while all of this is in limbo, who has access to his house, his studio, bedroom, things left around...etc....That stuff could be disappearing as wel speak. I hope just one sister (Tika) at this point wold have access and not a slew of people.

HatrinaHaterwitz said:

Identity said:

If a will isn't discovered soon, control freak or not, his estate will pass to next of kin.

I get that but that would also mean that all the control freakish things he did in life to "protect" his legacy and such was all for nothing. That's just too fucked up to even contemplate.

Perhaps, he thought he had sufficient time to draw up a will or a write a living trust.

[Edited 4/26/16 10:13am]

HatrinaHaterwitz said:

BillieBalloon said:

This is someone who made the pizza delivery guy sign a confidentiality contract (probably). He made provisions, believe me. I think he knew exactly where and to whom he his very hard earned legacy is going to. There's people who only have a cat and even they write a will saying who gets the cat. Ffs. ,, [Edited 4/26/16 9:56am]

Those are things that were important to him while he was still alive. If there are no children, no wife, no close family members and a reluctance to release old music due to the lyrical contents, why should he care about what is going to happen to all of that after he´s gone?

Remember that when it comes to business, Paisley Park was often managed like a lemonade stand...from merchandising to how some shows were planned, some of it was rather amateurish or downright illegal (the way he used amateurs during the Crystal Ball fiasco, or that he released stuff that theoretically still belonged to WB ).

Not trying to sound like a party pooper here, and yes, he´s had some great lawyers that achieved a lot for him that he could have benefited from if he stayed alive for a couple more years, but to think that he was always efficient in his business affairs is not really correct.

Tax problems, unpaid band members, etc. etc.

On the other hand he was very organized and generous when he wanted to .

Some people don't like to think about their mortality, perhaps Prince was one of them. Like others, I do wish that he would have had a will, considering all that he owned, it would have just been the correct thing to do.

Dauphin said:

I have a very hard time understanding how a businessman with an extensive personal fortune and assets has no will, or formal documentation directing the company(s) he owned. As much as he worked with lawyers, especially since the entire catalog battle. The man was surrounded by laywers.

Exactly. I am really having a hard time believing that he had no will as well. As much as a control freak our beloved Prince was, this really doesn't make a bit a sense at all. Where is his current lawyer at? Is none of his legal counsel even contesting this at all saying that there is in fact a will that exists? This is just too strange.

I support Tyka and have been FB friends with her a couple years. She's good people and I wish her the best.

Did you know you can go to the cards aisle in the store and there is no "Sibling" cards in the condolences section? But they have one for your dead dog. You can't get a "I'm sorry about your brother" card. Rediculous.

missfee said:

Dauphin said:

I have a very hard time understanding how a businessman with an extensive personal fortune and assets has no will, or formal documentation directing the company(s) he owned. As much as he worked with lawyers, especially since the entire catalog battle. The man was surrounded by laywers.

Exactly. I am really having a hard time believing that he had no will as well. As much as a control freak our beloved Prince was, this really doesn't make a bit a sense at all. Where is his current lawyer at? Is none of his legal counsel even contesting this at all saying that there is in fact a will that exists? This is just too strange.

Yep. I'm not buying it until whomever currently represents him comes out and files something.

Filing a probate case is a good way to flush the vultures out of the woodwork though. The clock is ticking so they have to show themselves in order to make any claims.

Lots of famous people die without wills. Remember the control-freakish billionaire Howard Hughes? He died without one too.

Fury said:

Unlike wills and probate court proceedings, such trusts can be kept confidential from the public. If Prince chose this route, it's possible we may never know the true extent of his estate or his plans for it after his death. "Usually, wealthy, organized people or sophisticated celebrities use trusts that are set up while they're alive, to determine (what happens after death) in a confidential way, they're not public documents," says Koznitsky. "They don't want the world to know who their beneficiaries (the heirs) are, or special dispositions, etc." USA today

i literally didnt have one or think about it until the military made me get one due to being dpelloyed to iraq and having dependents

nursev said:

As each day goes by and things like this are revealed its starting to give me this uneasy feeling. I mean did he have a will and someone took it or he just didn't care enough to make one which just doesn't sound like our Prince when it comes to money. There's some sinister shit going on here.

Read Fury's reply. Prince may have made provisions in a different, less public way.

nursev said:

As each day goes by and things like this are revealed its starting to give me this uneasy feeling. I mean did he have a will and someone took it or he just didn't care enough to make one which just doesn't sound like our Prince when it comes to money. There's some sinister shit going on here.

I believe he filed something. Whether if it was a will or a trust, I believe he had something. It would had been crazy dumb not to and Prince may had been many things, but dumb HE WAS NOT.

Like many of you it seems strange for someone who wanted to be in control of everything in his life decided not to have a will. I'm hoping for the best here, both for his family and us fans.

babynoz said:

babynoz said:

missfee said:

Exactly. I am really having a hard time believing that he had no will as well. As much as a control freak our beloved Prince was, this really doesn't make a bit a sense at all. Where is his current lawyer at? Is none of his legal counsel even contesting this at all saying that there is in fact a will that exists? This is just too strange.

Yep. I'm not buying it until whomever currently represents him comes out and files something.

Filing a probate case is a good way to flush the vultures out of the woodwork though. The clock is ticking so they have to show themselves in order to make any claims.

.

I'm not buying this either... I was thinking the very same: he was surrounded by lawyers, very protective of his money and assets, controlling, a fairly savvy business man, aware and knowledgeable about contracts, very orgaized, and he was already starting to write memoirs. I mean, 57 and starting to write your memoirs, and then needing to cancel a couple of concerts... how is it he would wind up having no estate planning documentation in place? What I'm saying is no reflection on Tyka at all, and I have no reason to not believe she is looking out for her brother's wishes, I just find the the lack of a will very puzzling. Seems mighty out of character for him to have left Tyka with no will.

missfee said:

KoolEaze said:

BillieBalloon said:

This is someone who made the pizza delivery guy sign a confidentiality contract (probably). He made provisions, believe me. I think he knew exactly where and to whom he his very hard earned legacy is going to. There's people who only have a cat and even they write a will saying who gets the cat. Ffs. ,, [Edited 4/26/16 9:56am]

Those are things that were important to him while he was still alive. If there are no children, no wife, no close family members and a reluctance to release old music due to the lyrical contents, why should he care about what is going to happen to all of that after he´s gone?

Remember that when it comes to business, Paisley Park was often managed like a lemonade stand...from merchandising to how some shows were planned, some of it was rather amateurish or downright illegal (the way he used amateurs during the Crystal Ball fiasco, or that he released stuff that theoretically still belonged to WB ).

Not trying to sound like a party pooper here, and yes, he´s had some great lawyers that achieved a lot for him that he could have benefited from if he stayed alive for a couple more years, but to think that he was always efficient in his business affairs is not really correct.

Tax problems, unpaid band members, etc. etc.

On the other hand he was very organized and generous when he wanted to .

This is a good post. Not having a will doesn't seem all that far off really.