Prince

Four Lessons Learned from Prince’s Estate (So Far)

By Jeffrey K. Eisen

Several of the events surrounding the initial administration of Prince’s estate provide lessons applicable to all estate plans, not just celebrity estate plans.

  1. If You Don’t Have an Estate Plan, the State Will Write One For You. Prince died without a Will.  Because he was not married at the time of his death and he had no surviving parents, children or grandchildren, his sister, and his five half-brothers and half-sisters each will inherit one-sixth of his estate.  Two other half-siblings died before Prince, apparently leaving no children of their own; otherwise, they would be entitled to part of the estate as well.

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