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Reply #960 posted 12/02/16 11:22am

leftcoast

ISaidLifeIsJustAGame said:



udo said:




laurarichardson said:


--According to Forbs the estate has taken in 25 million thus far this year. Remember in had 19 albums in the U.S chart after he passed and he did sell out a stadium in Oakland. They are also selling properties and he had commercial properties that may be bringing in revenue not to mention a sold out tribute concert. If you look on the estate thread I only see one actual finacial claim that is still open. The estate will be making money for years to come.

.


So we see over 10% of that 25+M USD in legal costs?!


That is a large chunk.



P's estate is a complicated legal matter.


There are issues that have never been addressed in a probate estate case before.


The amount of attorney fees includes the folllowing services:


1. Copyright infringement and lawsuit with Tidal;


2. Copyright litigation that began before P's death (including the lawsuit in Italy against P);


3. Copyright litigation in Florida against P;


4. Divorce records litigation;


5. Heirship claims and issues;


6. Appellate court briefs;


7. The organization and opening of PP Museum;


8. Addressing motions by the media to intervene;


9. Addressing every motion, pleading filed (there have been over 700);


10. Communication and negotiation with potential heirs;


11. Official tribute concert;


12. Entertainment issues and monetization of the Estate;


13. Master-use license requests;


14. Royalty statements and collection fees both US and foreign;


15. Intellectual property protection and enforcement;


16. Real estate issues;


17. Rodney Dixon's claim which took up a lot of time doing research, and responding to his claim, etc.;


18. Prep of the estate tax return;


19. The amount of attorney fees the Estate paid is also for all potential heir attorney fees;


20. There is over $34k in just expenses;


21. The list goes on.....


eek



I was actually surprised that the legal fees were not higher, all things considered.
[Edited 12/2/16 11:24am]
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Reply #961 posted 12/02/16 11:30am

ISaidLifeIsJus
tAGame

avatar

nelcp777 said:

ISaidLifeIsJustAGame said:

P's estate is a complicated legal matter.

There are issues that have never been addressed in a probate estate case before.

The amount of attorney fees includes the folllowing services:

1. Copyright infringement and lawsuit with Tidal;

2. Copyright litigation that began before P's death (including the lawsuit in Italy against P);

3. Copyright litigation in Florida against P;

4. Divorce records litigation;

5. Heirship claims and issues;

6. Appellate court briefs;

7. The organization and opening of PP Museum;

8. Addressing motions by the media to intervene;

9. Addressing every motion, pleading filed (there have been over 700);

10. Communication and negotiation with potential heirs;

11. Official tribute concert;

12. Entertainment issues and monetization of the Estate;

13. Master-use license requests;

14. Royalty statements and collection fees both US and foreign;

15. Intellectual property protection and enforcement;

16. Real estate issues;

17. Rodney Dixon's claim which took up a lot of time doing research, and responding to his claim, etc.;

18. Prep of the estate tax return;

19. The amount of attorney fees the Estate paid is also for all potential heir attorney fees;

20. There is over $34k in just expenses;

21. The list goes on......

eek

Thanks for putting this into perspective for me. Man, that is a lot of work. Since a valuation has been put on the Estate, does that mean that Inventory will be released or can the Court seal that?

The valuation was not done by the Estate. It was done by the media on the basis of attorney fees expended.

There is a fee schedule in Minnesota Probate Courts:

1st Mil = 2.0%

Next 4 Mil = 1.5%

Next 5 Mil = 1.0%

Over 10 Mil = .5%

In addition to hourly fees for excessive, unusual or complex administration.

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Reply #962 posted 12/02/16 11:45am

Mumio

avatar

ISaidLifeIsJustAGame said:

udo said:

.

So we see over 10% of that 25+M USD in legal costs?!

That is a large chunk.

P's estate is a complicated legal matter.

There are issues that have never been addressed in a probate estate case before.

The amount of attorney fees includes the folllowing services:

1. Copyright infringement and lawsuit with Tidal;

2. Copyright litigation that began before P's death (including the lawsuit in Italy against P);

3. Copyright litigation in Florida against P;

4. Divorce records litigation;

5. Heirship claims and issues;

6. Appellate court briefs;

7. The organization and opening of PP Museum;

8. Addressing motions by the media to intervene;

9. Addressing every motion, pleading filed (there have been over 700);

10. Communication and negotiation with potential heirs;

11. Official tribute concert;

12. Entertainment issues and monetization of the Estate;

13. Master-use license requests;

14. Royalty statements and collection fees both US and foreign;

15. Intellectual property protection and enforcement;

16. Real estate issues;

17. Rodney Dixon's claim which took up a lot of time doing research, and responding to his claim, etc.;

18. Prep of the estate tax return;

19. The amount of attorney fees the Estate paid is also for all potential heir attorney fees;

20. There is over $34k in just expenses;

21. The list goes on......

eek



We can always count on you to remind people of the realities of the legal world. Thanks for putting this up, there's a lot of people everywhere squawking about the costs....you'd think it was THEIR money to worry over lol Like it or not, the estate needs to be left to the experts.


Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #963 posted 12/02/16 12:24pm

laurarichardso
n

Mumio said:

ISaidLifeIsJustAGame said:

P's estate is a complicated legal matter.

There are issues that have never been addressed in a probate estate case before.

The amount of attorney fees includes the folllowing services:

1. Copyright infringement and lawsuit with Tidal;

2. Copyright litigation that began before P's death (including the lawsuit in Italy against P);

3. Copyright litigation in Florida against P;

4. Divorce records litigation;

5. Heirship claims and issues;

6. Appellate court briefs;

7. The organization and opening of PP Museum;

8. Addressing motions by the media to intervene;

9. Addressing every motion, pleading filed (there have been over 700);

10. Communication and negotiation with potential heirs;

11. Official tribute concert;

12. Entertainment issues and monetization of the Estate;

13. Master-use license requests;

14. Royalty statements and collection fees both US and foreign;

15. Intellectual property protection and enforcement;

16. Real estate issues;

17. Rodney Dixon's claim which took up a lot of time doing research, and responding to his claim, etc.;

18. Prep of the estate tax return;

19. The amount of attorney fees the Estate paid is also for all potential heir attorney fees;

20. There is over $34k in just expenses;

21. The list goes on......

eek



We can always count on you to remind people of the realities of the legal world. Thanks for putting this up, there's a lot of people everywhere squawking about the costs....you'd think it was THEIR money to worry over lol Like it or not, the estate needs to be left to the experts.


People in the media are morons. Experts need to come in and straigten things out and so far they seem to be doing a good job of getting rid of the con-man and crazies. This is money well spent so the family can have closure. In addition, money is coming into the estate so everything will balance out. The MJ estate made 750 million last year alone. The Nelsons will be fine. The sky is not falling.

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Reply #964 posted 12/02/16 4:39pm

rap

Possibly a silly question, as L. Londell McMillan IS an attorney, couldn't or shouldn't he be doing this himself?

Maybe like John Franca, he's taking a rather large cut?

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Reply #965 posted 12/02/16 5:30pm

1Sasha

Londell isn't in the same league as John Branca, and MJ left a will or trust (I don't remember which). Prince left nothing (apparently) so an administrator had to be appointed to oversee the process.

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Reply #966 posted 12/02/16 6:07pm

petalthecat

avatar

laurarichardson said:

ISaidLifeIsJustAGame said:



udo said:




laurarichardson said:


--According to Forbs the estate has taken in 25 million thus far this year. Remember in had 19 albums in the U.S chart after he passed and he did sell out a stadium in Oakland. They are also selling properties and he had commercial properties that may be bringing in revenue not to mention a sold out tribute concert. If you look on the estate thread I only see one actual finacial claim that is still open. The estate will be making money for years to come.

.


So we see over 10% of that 25+M USD in legal costs?!


That is a large chunk.



P's estate is a complicated legal matter.


There are issues that have never been addressed in a probate estate case before.


The amount of attorney fees includes the folllowing services:


1. Copyright infringement and lawsuit with Tidal;


2. Copyright litigation that began before P's death (including the lawsuit in Italy against P);


3. Copyright litigation in Florida against P;


4. Divorce records litigation;


5. Heirship claims and issues;


6. Appellate court briefs;


7. The organization and opening of PP Museum;


8. Addressing motions by the media to intervene;


9. Addressing every motion, pleading filed (there have been over 700);


10. Communication and negotiation with potential heirs;


11. Official tribute concert;


12. Entertainment issues and monetization of the Estate;


13. Master-use license requests;


14. Royalty statements and collection fees both US and foreign;


15. Intellectual property protection and enforcement;


16. Real estate issues;


17. Rodney Dixon's claim which took up a lot of time doing research, and responding to his claim, etc.;


18. Prep of the estate tax return;


19. The amount of attorney fees the Estate paid is also for all potential heir attorney fees;


20. There is over $34k in just expenses;


21. The list goes on.....


eek


They should make people like Rodney pick up the cost.

Exactly. A claimant that fails should pick up court costs, I'm sure that's how it works here in the UK. Also, why isn't Mani paying to keep the divorce papers sealed?
There's always a rainbow 🌈 , at the end of every rain ☔️
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Reply #967 posted 12/02/16 8:58pm

bilbolives

http://www.startribune.com/prince-properties-in-chanhassen-are-hitting-the-market-and-going-fast/404372476/

The Minneapolis Star Tribune is reporting on the sale and interest in four of Prince's properties in Chanhassen by Bremer Trust, valued at $300,000 to $1.675 million.

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Reply #968 posted 12/03/16 3:00am

udo

avatar

bilbolives said:

http://www.startribune.com/prince-properties-in-chanhassen-are-hitting-the-market-and-going-fast/404372476/

The Minneapolis Star Tribune is reporting on the sale and interest in four of Prince's properties in Chanhassen by Bremer Trust, valued at $300,000 to $1.675 million.

.
Does Chanhassen suffer from a real estate boom?

This might have an effect if it's the case.

Pills and thrills and daffodils will kill... If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
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Reply #969 posted 12/03/16 11:24am

laurarichardso
n

udo said:



bilbolives said:


http://www.startribune.com/prince-properties-in-chanhassen-are-hitting-the-market-and-going-fast/404372476/



The Minneapolis Star Tribune is reporting on the sale and interest in four of Prince's properties in Chanhassen by Bremer Trust, valued at $300,000 to $1.675 million.



.
Does Chanhassen suffer from a real estate boom?


This might have an effect if it's the case.


-- The properties cannot be sold for less then 95% of their value.
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Reply #970 posted 12/03/16 12:49pm

1Sasha

I had a relative move from Eden Prairie in June and she said she couldn't believe the housing boom she saw. I don't know if facts back that up, but she was stunned.

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Reply #971 posted 12/03/16 1:10pm

cloveringold85

avatar

Prince's properties are selling fast:

.

http://www.startribune.co...404372476/

.

Ooops! Sorry, double-post! eek

[Edited 12/3/16 13:11pm]

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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Forums > Prince: Music and More > The Estate - Part 4