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Thread started 05/19/16 10:41am

iamafan

The Estate

I sure hope that a will is found somewhere.

I think about all that Prince has created- I can't imagine it all landing in the hands of someone in jail or wherever. I want someone that was close to Prince to 'take care of' what he left behind. I know I am prematurely judging here but I just so wish so many things about this whole situation were different. (Starting with Prince still being alive...)

* NEW THREADS ABOUT THE ESTATE WILL BE LOCKED *

The ones that are active and talking about something specific will remain open

http://prince.org/msg/7/427547

Thieves in the Temple? Is Prince's Estate Plan Being Suppressed?

http://prince.org/msg/7/427464

Taxes May Wipe Out Half Of Princes Estate

-OF4S

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Reply #1 posted 05/19/16 10:58am

266lydia

I agree. Someone claiming to be his son, even if it turns out he is should not get Prince millions. He had no clue he had a son, had no bond to this person. They were strangers to each other.
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Reply #2 posted 05/20/16 5:35pm

sallyb

266lydia said:

I agree. Someone claiming to be his son, even if it turns out he is should not get Prince millions. He had no clue he had a son, had no bond to this person. They were strangers to each other.

I second, third that sentiment. I actually lost a little sleep over it. It would be like "theives in the temple" I would rather it go to his sister who would protect the music and his wishes. That's my chief concern, money is just money, but his music was so important to him and to his fans, and if the rights went to people who are just out for a buck, well the thought of it makes me physically ill.

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Reply #3 posted 05/25/16 6:15am

mailaccount63

During this beginning time of the Estate, the Court will determine the next of kin. Since there seems to be no Will at this time (one could still show up), the next of kin will be the ones to inherit. This will proceed by the "Statute of Descent and Distribution". (Reminder: Probate law can differ from state to state.) The Statute of Descent and Distribution is what the Court will use to determine "rank" of inheriting.

(This is not legal advice.)
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #4 posted 05/25/16 6:25am

mailaccount63

In order to save time, at the same time, the Court will doing an itemized Inventory. After the heirs are determined, the next report that will be filed on behalf of the Estate is the Inventory. This is completely itemized. Also values for each item need to be listed. (Some things are more difficult than others to set a value to.) In an estate that is as massive as Prince's is reported to be, this can take some time.

(This is not legal advice.)
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #5 posted 05/25/16 11:45am

mailaccount63

mailaccount63 said:

During this beginning time of the Estate, the Court will determine the next of kin. Since there seems to be no Will at this time (one could still show up), the next of kin will be the ones to inherit. This will proceed by the "Statute of Descent and Distribution". (Reminder: Probate law can differ from state to state.) The Statute of Descent and Distribution is what the Court will use to determine "rank" of inheriting. (This is not legal advice.)


"Prince's possible heirs protest blood, genetic tests. 5/24/2016
Would-be Prince heirs have a problem with blood and genetic tests of anyone claiming to be relatives of the late music icon, according to new court records........"
www.nydailynews.com/news/...-1.2648593

Any protests like this will slow down the step of determining the next of kin - which slows down the administration of the Estate.

(If I thought that I would have ANY chance of being related to Prince, I would run in and I would flop down my arm and tell them to go ahead and take the blood needed for the genetic tests!!!)

(This is not legal advice. This is based on my current knowledge, information, belief, and experience.)

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #6 posted 05/25/16 11:52am

OnlyNDaUsa

avatar

mailaccount63 said:

mailaccount63 said:

During this beginning time of the Estate, the Court will determine the next of kin. Since there seems to be no Will at this time (one could still show up), the next of kin will be the ones to inherit. This will proceed by the "Statute of Descent and Distribution". (Reminder: Probate law can differ from state to state.) The Statute of Descent and Distribution is what the Court will use to determine "rank" of inheriting. (This is not legal advice.)


"Prince's possible heirs protest blood, genetic tests. 5/24/2016
Would-be Prince heirs have a problem with blood and genetic tests of anyone claiming to be relatives of the late music icon, according to new court records........"
www.nydailynews.com/news/...-1.2648593

Any protests like this will slow down the step of determining the next of kin - which slows down the administration of the Estate.

(If I thought that I would have ANY chance of being related to Prince, I would run in and I would flop down my arm and tell them to go ahead and take the blood needed for the genetic tests!!!)

(This is not legal advice. This is based on my current knowledge, information, belief, and experience.)

the main reason they would is if the Dwayne was a step brother.

No one is coming for your abortion: they just want common-sense abortion regulations: background checks, waiting periods, lifetime limits, take a class, and a small tax.
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Reply #7 posted 05/27/16 3:37pm

mailaccount63

OnlyNDaUsa said:

mailaccount63 said:


"Prince's possible heirs protest blood, genetic tests. 5/24/2016
Would-be Prince heirs have a problem with blood and genetic tests of anyone claiming to be relatives of the late music icon, according to new court records........"
www.nydailynews.com/news/...-1.2648593

Any protests like this will slow down the step of determining the next of kin - which slows down the administration of the Estate.

(If I thought that I would have ANY chance of being related to Prince, I would run in and I would flop down my arm and tell them to go ahead and take the blood needed for the genetic tests!!!)

(This is not legal advice. This is based on my current knowledge, information, belief, and experience.)

the main reason they would is if the Dwayne was a step brother.


From what I understand, Duane Nelson is a half blood brother.

"Prince's Alleged Nieces Defy Court Orders to Get a DNA Test
Duane Nelson, according to his birth certificate, shares a biological father with Prince....."

http://radaronline.com/ce...dna-order/
http://www.celebdirtylaun...r-brothers-...

Probate hearing on June 27, 2016.

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #8 posted 05/30/16 3:33pm

mailaccount63

"Will Prince's Estate and Icon Status Grow After His Death"; by Ed Christman; dated 4-28-2016

http://www.billboard.com/...-his-death

"'It was important to work things out with Prince and have him come back to Warner Bros.', says label chairman/CEO Cameron Strang, speaking with Billboard at the company's Burbank headquarters on the day after the artist's death--the same offices Prince walked through in 1977 as a 19-year-old new signing....."

[Edited 6/13/16 11:42am]

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #9 posted 05/30/16 3:35pm

mailaccount63

Question: Do you want it done fast? OR Do you want it done right?

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #10 posted 05/30/16 11:21pm

h4rm0ny

I just don't want this to turn into the Sun Ra, Tupac, or Eazy-E estates where entire projects are lost (Sun Ra and Eazy-E) or stolen and bootlegged (Tupac and Eazy-E). It would be a horrible way for such a legendary vault to slip away.

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Reply #11 posted 05/30/16 11:42pm

Rebeljuice

Surely a swab in the mouth is good enough for a dna test? Why take blood?

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Reply #12 posted 05/31/16 2:52am

mailaccount63

Rebeljuice said:

Surely a swab in the mouth is good enough for a dna test? Why take blood?


or just do that? If you think you are related to Prince, WHAT is the big deal?
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #13 posted 06/01/16 5:13pm

mailaccount63

"Behind Closed Doors, Lawyers Dig Into Prince's Estate", dated 5/8/2016, KSTP.com

http://hbispace.com/print...id=4130806

"Prince left behind no known Will when he died April 21, and the work of settling his multimillion-dollar estate is being carried out behind closed doors by tight-lipped lawyers. But estate attorneys unconnected to the case say they have a pretty good idea what's happening. They say it's starting with a careful accounting of the megastar's assets and debts, and determining whether any unknown heirs exist....."

[Edited 6/13/16 11:59am]

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #14 posted 06/03/16 6:00pm

mailaccount63

Now that things have calmed down -somewhat- we probably won't hear anything about the Estate on the weekends. Most law offices usually operate by "bankers' hours".
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #15 posted 06/04/16 9:20am

mailaccount63

Probate really isn't anything to be feared, like some people who try to sell trust schemes tell you (cough, cough).

The probate process can especially be a good thing if you think there might be claims against the Estate, and you want to make sure that the Estate is divided up according to law. (Prince may have known EXACTLY what he was doing.)

A "quick" description of the probate process:
https://www.legalzoom.com...mple-steps


(This is not legal advice.)

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #16 posted 06/04/16 9:50am

Giovanni777

avatar

266lydia said:

I agree. Someone claiming to be his son, even if it turns out he is should not get Prince millions. He had no clue he had a son, had no bond to this person. They were strangers to each other.

.

Have you all seen the guy in Minnesota linked to Heir Hunters?

"He's a musician's musician..."
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Reply #17 posted 06/05/16 9:41am

mailaccount63

"Entertainment industry experts to join Prince estate case"

http://www.fox9.com/news/...1548-story

"Bremer Trust, the special administrator of Prince's estate, has requested and received permission to hire entertainment industry experts to help with the "management and preservation of the wide-ranging intellectual property of the Estate."

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #18 posted 06/06/16 8:19am

mailaccount63

Why is a Will needed? In case you have someone and/or something you want to protect.

Children? Probably the #1 most important reason, in my opinion, especially if they are minors. Prince didn't have any children, that we know of - any claims as such remain to be seen.

Significant other? Prince wasn't married, at this time. The fact that Prince didn't draw up a Will to protect a significant other says a lot, in and of itself.

Assets that need protected? This was probably Prince's biggest mistake.

Prince knew his estate would be complicated - he knew there would be claims against his estate. Who better to sort it all out other than Probate Court, where it would be done according to law.

It sounds like Prince was in excrutiating pain, and was just trying to keep things going as long as he could, the best way he knew how. However, I do believe that this Pain Management Doctor could have helped him. But the pain management field tends to be a new one, one where the physicians involved have to understand all of the complex law relating to that. Many people have not heard of Pain Management Doctors - previously, you used to just go to your family physician. Now, that field has become a separate, complex medical field. Help for Prince arrived just a little too late.

(This is not legal advice. This is based on my current knowledge, information, belief, and experience.)
[Edited 6/13/16 12:06pm]
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #19 posted 06/06/16 8:26am

mailaccount63

Why is a Will needed? Why do you need life insurance? For the same reasons: for your loved ones. In case there is something you want to protect.

It is not about how much money you have, or whether or not you own a house. It is about helping your loved ones settle your estate.


(This is not legal advice.)
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #20 posted 06/06/16 8:29am

mailaccount63

WHY didn't Prince execute a Will?

Wills are like contracts. Prince hated contracts.
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #21 posted 06/06/16 8:30am

CAL3

mailaccount63 said:

WHY didn't Prince execute a Will? Wills are like contracts. Prince hated contracts.

True... but it's a contract that the individual is in complete control over, if they take the time to write one.

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Reply #22 posted 06/06/16 8:38am

mailaccount63

CAL3 said:



mailaccount63 said:


WHY didn't Prince execute a Will? Wills are like contracts. Prince hated contracts.


True... but it's a contract that the individual is in complete control over, if they take the time to write one.



Exactly. If you would had the opportunity to talk to Prince just one more time, would you have insisted that he write his Will??
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #23 posted 06/08/16 6:36pm

mailaccount63

Possible reasons Prince did not execute a Will:
1) The "D" word. Some people just have a problem talking about death, expecially when the talk is regarding their own.

2) Giving up control.

3) Don't want to deal with attorneys.

4) The cost of estate planning.

5) Family decisions need to be made.

6) A Will is like a contract. Prince said many times that he did not like contracts.

http://wills.about.com/od...anning.htm


[Edited 6/13/16 12:18pm]

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #24 posted 06/08/16 7:10pm

suomynona

avatar

We need more threads about the estate.

More!!!

https://goo.gl/QVYBQw just isn't cutting it.

Come on everyone, let's do this! If everyone starts their own thread, we can make a difference in how the estate is handled!

Yeah!

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Reply #25 posted 06/08/16 7:43pm

mailaccount63

suomynona said:

We need more threads about the estate.

More!!!

https://goo.gl/QVYBQw just isn't cutting it.

Come on everyone, let's do this! If everyone starts their own thread, we can make a difference in how the estate is handled!

Yeah!



Why?
RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #26 posted 06/08/16 8:05pm

suomynona

avatar

mailaccount63 said:

suomynona said:

We need more threads about the estate.

More!!!

https://goo.gl/QVYBQw just isn't cutting it.

Come on everyone, let's do this! If everyone starts their own thread, we can make a difference in how the estate is handled!

Yeah!

Why?


Because apparently 1,000,000 threads isn't enough! C'mon mailaccount63! Start your own thread! Start ten! You can do it!

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Reply #27 posted 06/09/16 1:15pm

mailaccount63

suomynona said:

mailaccount63 said:

suomynona said: Why?


Because apparently 1,000,000 threads isn't enough! C'mon mailaccount63! Start your own thread! Start ten! You can do it!


I thought everyone was already doing this!
(sarcasm at its finest)


[Edited 6/10/16 14:06pm]

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #28 posted 06/09/16 1:35pm

manci

mailaccount63 said:

Question: Do you want it done fast? OR Do you want it done right?



Answer: I don't give a shit as long as I get the music faster.

Prince didn't care, why should I?
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Reply #29 posted 06/09/16 1:56pm

mailaccount63

manci said:

mailaccount63 said:

Question: Do you want it done fast? OR Do you want it done right?

Answer: I don't give a shit as long as I get the music faster. Prince didn't care, why should I?


Long term, you will care. It could affect how much music you get.

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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