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Prince’s Estate Is Worth At Least $200 Million

Uncategorized Dec 2, 2016
post about Prince’s Estate Is Worth At Least $200 Million

On December 1, 2016, the Daily Mail reported that Prince’s estate is estimated to be worth at least $200 million. Recent court filings suggest this amount. However, probate lawyers know that the actual amount could be a lot higher. What will end up happening with Prince’s estate worth $200 million or more? Who will inherit? What does dying intestate mean?

  • Prince died intestate.
  • What does this mean?
  • It means that he died without a will, and who inherits will be determined by intestacy laws.
  • Just recently, a court filing suggests the value of Prince’s estate to be at least $200 million.
  • According to the Daily Mail, this is the first time, since Prince’s death, that a specific estimate “has emerged publicly from a court proceeding .”
  • Because his estate is being administered intestate, “the rock star’s sister and five half-siblings are in line to inherit equal shares of the estate.”
  • Trust and estates lawyers know that these beneficiaries will inherit much less than the estimated amount due to taxes.
  • Is Prince’s estate really worth $200 million or will more money be discovered during the continuing probate process?
  • To read the entire article, click here.
  • Prince did not die in Florida and his estate is being probated according to the intestacy laws of the state in which he died.
  • However, if someone you know died intestate in Florida, you can read the relevant Florida Statutes by clicking here.