Probate & Inheritances: Prince’s Estate Includes 67 Gold Bars

As we know, on April 21,2016, Prince passed away without a will. This means that he died intestate. Therefore, his fortune will be inherited by his heirs. Who are his heirs? There have been many inheritance disputes already regarding his massive estate. His estate’s probate lawyers have had to deal with multiple people claiming to be his children, for example. In addition, it seems that more and more valuables of Prince’s are being discovered. CNBC reports on January 7,2017 that 67 gold bars have been discovered and listed as part of Prince’s estate.

According to CNBC, records from Prince’s probate case revealed that his estate, in addition to his millions from music, consists of $25.4 million in real estate and 67 gold bars. Fortune states that these bars are each 10 oz. and, in total, the 67 bars are worth about $840,000. Fortune goes on to report that Prince’s “fortune will most likely be divided among his sister Tyka Nelson, as well as Prince’s half-siblings Sharon Nelson, Norrine Nelson, John Nelson, Omarr Baker, and Alfred Jackson.” How much money will each of these family members actually receive? How much will be owed in estate taxes? How much will be owed to probate lawyers and estate litigators? Click here to read the entire article.