Wheover wrote that article doesn't know what they're talking about.
Second, the PRINCE Act was abandoned because of serious First Amendment questions. It would not apply in this regard in any case, since it only sought to restrain the UNAUTHORIZED use of his name or likeness. Any effort to generate income from the estate would certainly be authorized, both by a court and by the appointed executor.
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With no will, this is what happens. Love is God,
God is Love | |
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what if it's actually buried in that time capsule thingy of his? on paisley park grounds somewhere??? ooooh. a midnight mystery | |
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Here is another, provocatively titled article: Little Red Corvette Repos...e's Estate
Here is the most relevant portion of the article:
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FlyOnTheWall said:
I'm not trying to suggest that anything about the current circumstances is helpful. But every reliable source, including the one above, has said the same thing: there will only be a fire sale if some meaningful alternative to raise cash is not developed in the meantime. As I said before, Bremer's duty is to maximize the value of the estate. I can't imagine they dont' already have a relatively good handle on other non-cash assets, such as real estate. | |
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I understand. Still, the very mention of a potential "fire sale" of Prince memorabilia and songs from his vaunted vault is, well, inflammatory.
Personally, I think Bremer should consult with Prince's former tour manager and former President of Paisley Parks Records, Alan Leeds. His suggestion of how best to approach the vault and re-issues of classic Prince albums is the best and most logical I've heard yet. Moreover, I believe one of the first releases should be a reissue of the Sign 'o The Times movie, in theaters, on DVD, electronically, etc. They just need to slow the train down, even as they move expeditiously, and maximize what is there. For instance, Prince reportedly filmed ALL (or MOST) of his concerts. Can you imagine how much money could be generated from those alone??
At any rate, here is the Leeds interview, with this being the most relevant portion. Alan Leeds Tells The Full...The Vault!
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I wonder if anybody has searched the vaults for the will? admission is easy, just say U believe, then come 2 this place in your heart. | |
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Check the dang vault, how many tape recordings are in there??? admission is easy, just say U believe, then come 2 this place in your heart. | |
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FlyOnTheWall said:
I don't disagree with Alan Leeds. What the "inflammatory" articles and headlines skipped over is the fact that the court earlier this week authorized Bremer to bring in "industry experts" to maximize the value and develop a strategy. That is the opposite of a fire sale approach.
That being said, it will probably lead to some things that will meet with distaste from long-time fans, such as incidental licensing of Prince's music for commercials, product placements, and the like. | |
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As long as it's tastefully done, I am not averse to licensing. I read that Prince was in talks with Yamaha to become their "Piano Man"; although, I've only seen that report in TMZ. PRINCE Came So Close to BECOMING THE PURPLE PIANO MAN [Edited 6/10/16 19:42pm] | |
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I don't believe he had any estate plan because when asked about the vault (Ebony Magazine), he didn't know who would release it when he died but he knew someone would. Doesn't sound like a guy that made an esate plan. | |
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I've also heard him say that in several interviews, but that doesn't mean that he didn't have an estate plan. There is so much more than The Vault to consider in his estate, not the least of which is his philanthropic and charitable pursuits. As it stands, that has effectively died. | |
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Also, what would it take for Paisley Park to launch its own dedicated streaming service? How much would it take to set that up? In keeping with Prince's belief, the service could be limited to selling albums. [Edited 6/10/16 21:19pm] | |
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I wouldn't say now would be the ideal time to release NEW Prince.
Nostalgic Prince is where it's at to keep the lights on at Paisley Park. That anniversary edition Purple Rain will bring in so much money. Quickly follow with SOTT in bluRay special edition box set- that will be 30 next year right? You get the 32nd Anniversary Edition of PR out ASAP - June 25 if you can. I would believe it's just sitting there ready and waiting to hit the shelves. Follow up with 35th anniversary of 1999 you dip back into pre Purple Rain Era Prince around New Years. He has so much stuff from that time... Then around Fall you do 30th SOTT. BluRay. That will hook everyone new and old to Prince. Then you can do a New release like BITNB Taxes have to get paid. Like it or not. Or will we finally protest taxation with out equal representation in the case of Fams vs The State of Minnesota? We don't have time for that. See the man cry as the city Condemns where he lives Memories die but taxes He'll still have to give (Who) Whoever said that elephants Were stronger than mules? Come 2 the park And play with us There aren't any rules In Paisley Park [Edited 6/10/16 22:50pm] Surprise, surprise.
Another treat. Another trick. | |
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XxAxX said:
. hmmm. it all depends right? january is far enough out to release prince's alleged last project "Black is the New Black" online and offline for sale to a global market, eager for such a *new* prince release, following his passing. . moreover, if fans knew that sales proceeds would be partly dedicated to help preserve prince's legacy from a tax fire sale, i betcha fans would cough up the $$
They aren't itching for new Prince. That's been the problem. Sorry but they want Purple Rain right now. Dirty hippie Prince. That's what time it is. Surprise, surprise.
Another treat. Another trick. | |
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XxAxX said: what if it's actually buried in that time capsule thingy of his? on paisley park grounds somewhere??? ooooh. a midnight mystery Yes and the map is hidden in the circuit board on Prince's face. See the cover for 1999 New Master. Overlay the circuit board graphic on an arial view of all of Prince's MN property and you wil find said time capsule, it's just around the corner. In it you'll find the keys to Vault number three where Prince is actually still alive and waiting for you. He will hand you his official wishes for Paisley Park and ask you to punch a higher floor and you will watch as his glass elevator shoots him out to his new studio on the moon. In an egg shaped capsule. The For You album art, that was shot in a bedroom of his lunar compound. He is ready to go back to there now. Surprise, surprise.
Another treat. Another trick. | |
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that already happened at the last celebration | |
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Yes!! I think the fans will be ALL IN!! Also, if there are recordings of any of the Piano and A Microphone (PAM) concerts, especially at Paisley Park and at the Fox Theatre, those also need to be released, like yesterday!!! Blu-Ray discs of the PAM tour, alone, would fetch a fortune. They can be sold individually and/or in box sets. | |
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We think alike. Specifically, perhaps Prince's Purple Army needs to RAISE UP and protest a Paisley Park Raid (or "fire sale") in the name of estate taxes. It can't be the only line of defense, but it should definitely not be written off because of time constraints. To the contrary, I think time could be the great motivator that could bring out record numbers of protestors, both in the State of Minnesota and in Washington, DC at the Treasury Department/IRS headquarters. It would be historic. | |
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The short answer is right now:
It's sad but it's the reality, no discussion or blaming game can change it.
The only consolation is that he didn't burn all the tapes, so there are some blessings to be counted despite the foolery.
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This is delusional, please take two aspirins and call me in the morning. | |
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Whatever... | |
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We're all entitled to our own opinion, thank you. That notwithstanding, why have we heard absolutely NOTHING from any of his MANY lawyers about the apparent lack of an estate plan? Londell McMillan's only public statement, to my knowledge, has been to refute the drug addiction rumors, which was very admirable of him...but I was like, what about the will, Londell??!!!!??? | |
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FlyOnTheWall said:
Yes!! I think the fans will be ALL IN!! Also, if there are recordings of any of the Piano and A Microphone (PAM) concerts, especially at Paisley Park and at the Fox Theatre, those also need to be released, like yesterday!!! Blu-Ray discs of the PAM tour, alone, would fetch a fortune. They can be sold individually and/or in box sets. I know in life Prince was extremely vigilant about keeping his material off YouTube. I understood his reasons for that in his lifetime and i respected that. But ... since he apparently has left his estate to the wind by not having a will, it seems he did not care to dictate how or when or by who his music was distributed or released after his death. So - if the estate needs to raise a lot of money to pay the tax bill, why not make his music videos and concerts available for download online? If it was done with a bigger purpose in mind, I would feel ok about it - I think it is the lesser of evils if the alternatives are selling off ownership of his songs or Paisley park, both of which make me sick to think about. Sorry if I'm being very naive here, I have no idea how much money artists do or don't make off YouTube or iTunes etc or how much money could realistically be raised by making material available online. I guess what prompted this for me was today while I was trying to watch more concerts on YouTube I realised many of them now have ads all through them, and that really pissed me off bc it means people who are not prince's estate are trying to make money from people grieving/curious/wanting to see Prince. And for most people these videos are the only access to "seeing" Prince they have. So why not give the people what they want legitimately if it makes money and helps protect the estate? I would rather pay his estate for access to high quality material online, and I don't think it would compromise the sales of any future boxed sets.. | |
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I agree. I also saw someone, on one of the many Facebook fan pages, advertising a "high quality" recording of one of his final Atlanta PAM concerts. They are taking pre-orders, claiming it will be available for purchase in early July. And this did not look like it was being offered by his Estate. Although I have been enjoying all the YouTube concert footage, I hope all such unauthorized activity and other bootlegging will soon be shut down. | |
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Also, I don't know how YouTube channels are monetized, but if it is lucrative enough, perhaps the Prince Estate should consider an official YouTube channel. | |
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They can't be guilty of malpractice for something they weren't asked to do. So, that's the million dollar question - was an attorney or attorneys asked to draw up estate plans. Even if they were, Prince at one point would have had to sign off on it.
Lack of an estate plan is fairly common. Most people lack a substantial estate, so it doesn't matter than much. But, even wealthy people fall into the trap of putting things off.
Sure, at first glance it does seem hard to believe that Prince wouldn't have a very precise, well-structured will and estate plan. But, it happens. | |
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I understand. I'd just like to hear his attorney(s) discuss the matter. And, who knows, a will might still turn up, especially if it turns out that Prince had a child or children. | |
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Yep. I don't argue with people about my opinions. Scram. I said what I said. | |
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Frightened, eh? I don't argue with people about my opinions. Scram. I said what I said. | |
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