laurarichardson said:

Menes said:

What I do find a bit interesting was the "cash on hand". It really wasn't a lot. How was he paying all of those bills, expenses , etc?

He had money in his corporations. I would think bills would be paid out of corporate accounts.

That could be true. For the record, I agree that one shouldnt "hold" a lot of cash and park it in some bank (at least not right now) especially if you dont have any expenses and are retired. However, investing in gold is really not a way to fund your retirement either. Its just a huge risk with some nasty attachments. I just thought he had a large payroll/expense report and was wondering how he managed with so little. Maybe he was into the "end of days " investment strategy.

Menes said:

tmo1965 said:

Rich people don't keep a lot of cash on hand. Banks pay almost nothing in interest and cash really isn't worth a whole lot over time. Prince was smart to have his money in hard assets.

Not to start an invesment debate but, Thats a very broad statement as in "rich people don't"... I do happen to know a few individuals who are wealthy and asset allocation always included a lot of cash on hand, nowithstanding the interest rate.It is the safety net of investments.How much cash equivalents do you think Warren Buffet has ? What is the reason for him having all of that cash?

I brought this up in a thread here on the org, and I was stomped on quickly. There does not appear to be any personal money (cash) elsewhere, such as overseas, unless there are indeed off-shore or other accounts which one or more persons might know about, but aren't telling the court of their existence. There have been comments about the state of PP - especially the Egg - being in disrepair. The Graceland folks had to pump in big bucks to bring the property up to code, and not just so that tourists could visit. After the Musicology tour, Prince doesn't seem to have made any serious money, and for 20 years before that he fought the music industry, further diminishing his income. A hundred grand in a personal account is walking around money for someone of his fame and importance.

1Sasha said:

Menes said:

Not to start an invesment debate but, Thats a very broad statement as in "rich people don't"... I do happen to know a few individuals who are wealthy and asset allocation always included a lot of cash on hand, nowithstanding the interest rate.It is the safety net of investments.How much cash equivalents do you think Warren Buffet has ? What is the reason for him having all of that cash?

I brought this up in a thread here on the org, and I was stomped on quickly. There does not appear to be any personal money (cash) elsewhere, such as overseas, unless there are indeed off-shore or other accounts which one or more persons might know about, but aren't telling the court of their existence. There have been comments about the state of PP - especially the Egg - being in disrepair. The Graceland folks had to pump in big bucks to bring the property up to code, and not just so that tourists could visit. After the Musicology tour, Prince doesn't seem to have made any serious money, and for 20 years before that he fought the music industry, further diminishing his income. A hundred grand in a personal account is walking around money for someone of his fame and importance.

If you count the Turks and Caicos house he had 35million in Real Estate. He had about 15 mill in his coporations of which he was the sole shareholder. No mortages or liens. 800,000 in gold bars.

If you had the small money from the checking accounts he was worth about 50 mill off the top.

The other assest have to be valued. The cars, vault material, master tapes (which are very valuable), royalties, clothes, furniture and trademarks.

High net worth people had their money tied up in investments and build a corporate web around themselves. Also keep in mind he had no rack of children or 5 ex wives to take care of however, he did give a lot to charity and he was not touring as much as he use to dispite a rumor that Live Nation was begging him to do a big stadium tour.

I proud that he was not debt and did not have 100 luxury homes and automobiles. He was conservative with his money and most of it went back into his business and his music.

Nothing wrong with being conservative.

nelcp777 said:

New claim poster for $100M by a person claiming to have created the fisrt half of the song Purple Rain while showering. Really?

Some, if not most of these claims are just disgusting at this point.

I do not understand why people think that they can make a claim with no proof. You need to show that you had some hand in creating copyrighted work and saying your momma heard you in the shower is not going to make it. When will the judge stop allowing these claims.

Menes said:

Menes said:

So here's the business (as of 1-12-2017) concerning the naming of the heirs to Prince's fortune.

1. Comercia Bank wil be replacing Bremer Trust as special administrator.

2. In Tyka's petition, she wanted either Fiduciary Trust, Co. International or Comercia to take over as the special administrator.

3. Attorney Van Jones and attorney L. Londell Mcmillan have requested to be appointed as co-executors of the estate.

4.Tyka Nelson and Omarr Baker have filed objections to the proposed appointment of McMillan since he has been acting as a special adviser to Bremer Trust.

5. Van Jones is Omarr Baker's attorney. He has stated that he is not charging them or gets anything from the estate.

5. The allegation against Mcmillan is that because he gets a 10% commision on contracts the estate has signed thus far , there is a conflict of interest.

6. Sharon Nelson endorsed McMillan... ( She should be charting on billboard right after her grammy winning performance in February).

7. Oddly enough, it seems all of the siblings want McMillan as an advisor except Tyka and Omarr (This may not be true).

8. Sharon,Norrine and John share the same attorney (Randall Sayers).

9. Tyka's attorney was Edward Diaz as of Decmeber 5th,2016. ( She may have sacked him).

10. McMillan has been accused of leaking confidential information to billboard about the $35 million sale of Prince's vault masters. (That was interesting). Lucky for us, I am hot on the trail for who bought it and what it had in it.

Below are the links to support the above mentioned findings.

Of note: When you click on the second link below, scroll down to the email and check out L. Londell extending the olive branch to Tyka. She's not happy .

NO DISCUSSIONS OF DRUGS PEOPLE!

Regards,

R&D Dept. (research & drama)

Omarr Baker and Tyka Nels...ion to ...

Affidavit of Steven H. Si...ondell ...

Affidavit of Randall W. S...ial Branch

Court holds off determini...versee ...

In regards to point #10, Published reports state that WB, Universal and Sony are the three labels bidding on the masters. All set up by McMillan and Koppelman.

They would not have been able to sell it without the permission of all of the sibs so I do not know what the fuck he was thinking.

Shocking allegations from Jennifer Jeffers : http://www.mncourts.gov/m...Nelson.pdf

ETA: a second related document: http://www.mncourts.gov/m...llowed.pdf

[Edited 1/24/17 15:22pm]

I just read this thing. I have never heard/read any comment regarding trauma to Prince's body. If this description is true, how did she learn of it? I am not saying she is of sound mind, but if this is true, who talked from the investigative/emergency team(s)?

laurarichardson said:

1Sasha said:

I brought this up in a thread here on the org, and I was stomped on quickly. There does not appear to be any personal money (cash) elsewhere, such as overseas, unless there are indeed off-shore or other accounts which one or more persons might know about, but aren't telling the court of their existence. There have been comments about the state of PP - especially the Egg - being in disrepair. The Graceland folks had to pump in big bucks to bring the property up to code, and not just so that tourists could visit. After the Musicology tour, Prince doesn't seem to have made any serious money, and for 20 years before that he fought the music industry, further diminishing his income. A hundred grand in a personal account is walking around money for someone of his fame and importance.

If you count the Turks and Caicos house he had 35million in Real Estate. He had about 15 mill in his coporations of which he was the sole shareholder. No mortages or liens. 800,000 in gold bars.

If you had the small money from the checking accounts he was worth about 50 mill off the top.

The other assest have to be valued. The cars, vault material, master tapes (which are very valuable), royalties, clothes, furniture and trademarks.

High net worth people had their money tied up in investments and build a corporate web around themselves. Also keep in mind he had no rack of children or 5 ex wives to take care of however, he did give a lot to charity and he was not touring as much as he use to dispite a rumor that Live Nation was begging him to do a big stadium tour.

I proud that he was not debt and did not have 100 luxury homes and automobiles. He was conservative with his money and most of it went back into his business and his music.

Nothing wrong with being conservative.

I think what Sasha is alluding to is that assets dont pay bills, hard money pays the revolving bills/payroll/expenses. I can't say for certain what his expenses were, but even if you were to calculate that @ ($9,000 x12=108k) that's gone in a year. That seem like far too little to be having on hand unless he modified his entire lifestyle/spending habits.

As an example, If he had a medical emergency that required long term care ,he would have had to sell off an asset to pay for that care at some point if there was no cash coming in, in that same year. He would have been in quite a quandary if the assets were frozen and he couldnt sell them. Would you rather have $1 million in cash or the equivalent of that in gold bars at your disposal? I do agree with you that is does not appear that he was in debt.

Mumio said:

Shocking allegations from Jennifer Jeffers : http://www.mncourts.gov/m...Nelson.pdf

This has been going around on the FACEBOOK. She is insane.

Mumio said:

Shocking allegations from Jennifer Jeffers : http://www.mncourts.gov/m...Nelson.pdf

ETA: a second related document: http://www.mncourts.gov/m...llowed.pdf

[Edited 1/24/17 15:22pm]

I think she's another cray-cray! Again, I ask if she heard all of this on the phone, why didn't she call 911?

Menes said:

PennyPurple said:

1Sasha said:

After the Musicology tour, Prince doesn't seem to have made any serious money, and for 20 years before that he fought the music industry, further diminishing his income. A hundred grand in a personal account is walking around money for someone of his fame and importance.

That's just simply not true. He would have made at least $20mill from the 21 Nights tour in London, a record sold out 21 shows in a 25,000 capacity arena, plus aftershows, plus merch! His fee was a million dollars a show. And there were plenty of tours after that too - W 2 America, W 2 Australia, etc etc etc.

laurarichardson said:

PennyPurple said:

I think she's another cray-cray! Again, I ask if she heard all of this on the phone, why didn't she call 911?

--Unforunatly he had some fans that were unhinged to begin with and his death has made it worst.

The Estate is never going to get settled if these people are allowed to keep filing claims.

Militant said:

PennyPurple said:

laurarichardson said:

Militant said:

That's just simply not true. He would have made at least $20mill from the 21 Nights tour in London, a record sold out 21 shows in a 25,000 capacity arena, plus aftershows, plus merch! His fee was a million dollars a show. And there were plenty of tours after that too - W 2 America, W 2 Australia, etc etc etc.

I am looking at the inventory sheet he had a total of $ 40 mill in assests. 5 mill from NPG records 4 million from publishing these are corporations I would bet bills were paid out of those corporations.

You are probably right.

laurarichardson said:

Menes said:

That could be true. For the record, I agree that one shouldnt "hold" a lot of cash and park it in some bank (at least not right now) especially if you dont have any expenses and are retired. However, investing in gold is really not a way to fund your retirement either. Its just a huge risk with some nasty attachments. I just thought he had a large payroll/expense report and was wondering how he managed with so little. Maybe he was into the "end of days " investment strategy.

Depending on when he brought that gold he made out well and I do not think as a large payroll. The Audtralian promoter said it was just Prince, one bodyguard (kirk) a sound guy and a business mgr. Prince even said he had a skeleton crew in the Rolling Stone article. I think he had scaled down his operation. Also remember he had sold out a big show in Oakland and contracts to do concerts into the early fall so he may have had the expectation of money coming in and he would have received all monies on any music that was licensed thur his LLC.

That would make sense. I guess he kept enough "cash on hand" for an emergency.

Mumio said:

laurarichardson said:

PennyPurple said:

The Estate is never going to get settled if these people are allowed to keep filing claims.

. There was a deadline have no idea why they keep letting people file unless this is still Bremer and their bullshit. Remember they let that crazy ass women from New Zeland because they belived he was in New Zeland in 1976.

The Estate case is under an efiling system.

You dont need prior approval by the Court to file.

rogifan said:

Mumio said:

Shocking allegations from Jennifer Jeffers : http://www.mncourts.gov/m...Nelson.pdf

ETA: a second related document: http://www.mncourts.gov/m...llowed.pdf

[Edited 1/24/17 15:22pm]

And she never thought to call the police or 911? Also the ME report doesn't mention the trauma she refers to. In fact I believe the sheriff said there was no sign of trauma.

Yeah, her report has fishy written all over it.

Mumio said:

rogifan said:

Mumio said: And she never thought to call the police or 911? Also the ME report doesn't mention the trauma she refers to. In fact I believe the sheriff said there was no sign of trauma.

Yeah, her report has fishy written all over it.

I agree. The payment accusation should be easy enough to track, not to mention the phone records. And why would they rough Prince up and leave? Instead of Prince calling 911 after this, he phones her? Wow, just wow.

ISaidLifeIsJustAGame said:

http://hosted.ap.org/dynamic/stories/M/MN_PRINCE_ESTATE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

The Associated Press is also reporting on the appointment of Comerica Bank to take over for Bremer Trust, and also Judge Eide's decision not to appoint an intermediary "co-personal representative."

http://www.startribune.com/carver-county-judge-decides-not-to-appoint-a-co-executor-for-prince-s-estate/411678576/

The Minneapolis Star Tribune is also reporting on the appointment of Comerica to take over for Bremer Trust, as well as Judge Eide's decision to not appoint a co-executor.

laurarichardson said:

ISaidLifeIsJustAGame said:

The Estate case is under an efiling system.

You dont need prior approval by the Court to file.

--Yes, but there was a deadline for claims.

Did you see this already? So UMG already has the deal to oversee the entire catalog, to include branding and merchandising! I wonder who set this up?

Bravado CEO Speaks on Mon... - Complex

ISaidLifeIsJustAGame said:

Menes said:

laurarichardson said:

Militant said: I am looking at the inventory sheet he had a total of $ 40 mill in assests. 5 mill from NPG records 4 million from publishing these are corporations I would bet bills were paid out of those corporations.

You are probably right.

Prince’s companies, Paisley Park Enterprises Inc., NPG Records Inc., NPG Music Publishing and LotusFlow3r had more than $6 million in cash on hand at the time of his death.

NPG Records has an estimated $6.8 million in arbitration receivable.

Vee0319 said:

ISaidLifeIsJustAGame said:

The Estate case is under an efiling system.

You dont need prior approval by the Court to file.

// I Said Life is Just a Game, can you please help me understand why Claire Nelson is still on the list called Notice of Films my order?

I dont have an answer because I dont understand the procedure used in Minnesota's

"Notice of Filing Order" and I dont want to bog you down on how we do it in my state.

It appears as though someone from Administration prepares this Notice, and the number of names on the list changes almost every time they file one.

We know Van Jones is representing Omarr, and Tyka but he isnt even on the

Notice of Filing Order (he should be?).

It could be Claire is appealing the decision of the Judge so she will remain on the list of Notices.

It could also be a clerical error.

So my answer is: I dunno