Who Will Be the Personal Representative of Rockstar Prince’s Estate?

Rockstar Prince passed away without a will. A probate proceeding is in progress. Now that there is a good idea as to who the heirs are, it is important that the right person is appointed to help the heirs manage the massive estate. According to a January 24, 2017 Reuters article, Prince’s six siblings, who are the heirs, disagree about who should be the estate lawyer. Furthermore, the probate judge has held off in appointing one. What is a personal representative? When will the probate judge make a final decision as to who the new Personal Representative will be? Who is “competing” for the position?

In Florida, we call the estate executor, who administers the estate of a deceased resident, the “personal representative.The “PR” is typically “nominated” or listed in a last will. To get appointed means to be empowered by a Florida probate court. This is done by filing a petition for administration in the county where the deceased person was a resident. This petition is done when a will is filed, along with a death certificate. What if the person dies intestate like Prince did? What does the Florida estate personal representative do? A personal representative is responsible for gathering the deceased Palm Beach resident’s assets, paying off the just and proper debts( including the final Federal Income Tax bill of the decedent), paying the expenses of the administration, and then distributing the estate assets to the probate beneficiaries. If you are the personal representative, know that you may encounter litigation. However, there are ways to minimize the litigation and potential liability, which you many encounter when serving in this fiduciary role.

Although Prince didn’t die in Florida, and this is not a West Palm Beach probate matter, Prince’s estate problems are very common. According to the article, CNN contributor and once White House advisor, Van Jones, is one of the people “competing” to be the Personal Representative of Prince’s estate. The other candidate, L.Londell McMillan,  is an entertainment lawyer who is already working as a consultant to the estate. They each bring valuable skills and experiences to the table. However, the heirs strongly disagree about who should be appointed. In a ruling last Friday, the Minnesota probate judge refused to appoint either one due to the sibling’s strong difference in opinions. The judge said he would reconsider if the six heirs could reach a consensus. To read the entire article, click here.