The beneficiaries will have to make a few decisions on how to proceed. It will be difficult. Its hard enough to get three people to agree, imagine 7 or eight.

One benefit of no will is that the law is clear that all 7 beneficiaries (6 siblings plus one niece/nephew I believe) will share EQUALLY. so there wont be fights about this one get more or less but rather the fight will come from potential illegimate children or undivorced or common law spouse of the dead siblings or Prince.

Ultimately you are going to have a group of people with "ownership" of every thing Prince had. That includes all real property, jewlery, cloths, cars etc...(including any secured debt attached it like a mortage) and the big nut, the IP rights in the publishing AND the masters both of recorded music and unrelased stuff.

A quick and easy way to settle everything is to package everything up, cash out and divide it amount the family. This means all IP rights sold back to, say WB. Given all we know, this is highly unlikely.

So I belive what will happen is that they will cash out all the tangible property (but try to keep Paisley Park ). (The cash will be needed to pay off the taxes which will be considerable). Then set up an IP rights company to put all the music into. The family would each own an equal share in the IP company. Best case would be hire a music professional to manage its exploitation under the guidance of the family who would act as a Board of Directors.

Potential points of confilct will be, for example, do they license the music for commericals? Some in the family may be looking to maximize all profits and perhaps would not have a problem with this. Others may want to remain consisten with Prince's past practice and not license it. Another problem area will be transferabilty of their individual shares. Can say Alfred just choose to cash out entirely now and walk away? Can he sell his interest to ANYONE? To Warners?

In any event, the library will pay them handsomly for some time. Espectially if they ever get around to doing remasters, repackagings, box sets etc...

I think they all will agree to curate the Vault for unrelased music to keep the cash flow coming which should result in few box sets (if not 10!). Then you have live performances, videos etc..

This should set them and families up nicely for some time. I hope it all works out.