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Update- Prince’s Estate Battle

A few  weeks ago I posted about the ongoing battle that is JUST getting started with regards to Prince’s Estate.

The AP updated the saga today with the below article

Prince

The crux of the update  is that Prince’s siblings are refuting the claim of Brianna and Victoria Nelson, who claim to be descendants of Prince’s half brother.  Interestingly, they are not claiming a genetic link, but say Prince’s biological father considered Duane Nelson as his own son and Prince treated Duane like a brother. Duane died in 2011. Regretfully, in the opinion of this attorney, even if the relationship that they are claiming  is true, they will probably be out of luck in terms of estate recovery. Intestacy laws (those pertaining to people who died without a will) are different in each state, but the basics are pretty consistent. In general and in layman’s terms the law tries to keep the assets “in the bloodline”, regardless as to how close Prince and his half brother may have been.

I’ll be keeping the blog updated with any news that I catch but please remember you don’t want to put your family into this situation.

A simple will document could have alleviated so much stress and saved so much money for his family members. With an estate the size of his, he really likely needed some advanced estate planning including an analysis of tax liability issues  but at a BARE MINIMUM to avoid everyone he ever met making a claim against his estate he needed to do some BASIC planning.

 

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