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Prince’s family starts dividing his assets

Stephen Pagano, Reporter

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The family of the late pop star Prince have just started dividing up the singers assets. Prince Rogers Nelson left no known will and his assets are worth over $100 million. Prince died at his Paisley Park house outside Minneapolis, Minnesota on April 21st.

His sister, Tyka Nelson, and half-siblings are the apparent heirs to his estate, authorities have said. She filed paperwork on Tuesday asking the Minnesota court to appoint a trust company to oversee the division of Prince’s of assets. The documents name Tyka Nelson and prince’s five half siblings as heirs to his fortune.

Minnesota law states that because it has so far been unable to find a will for Prince, his five living siblings will split his estate equally. It is still uncertain how much he is actually worth; it could be as much as $300 million. Whatever the value is, it is highly likely that the singer is worth more in death then in life. His music catalog could be worth 20 or more times its average annual earnings if it where put up for sale.

Prince actually has a vault of unreleased music in Paisley Park. Previously he spoke about his vault in the show The View. “One day, someone will release them. I don’t know that I’ll get to release them,” he said back in 2012. “There’s just so many.” There is so much music in there that he could put up a new album every year for the next century.

“All the royalties would shift to the beneficiary or the heir, or whoever it is that inherits,” estate attorney Jeffrey P. Scott told People. Those royalties could be huge considering that Prince fans bought nearly 600,000 albums and 2.3 million songs in the following 3 days after his death.

It is still unclear on what killed the iconic pop star.

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The student news site of Kohala High School
Prince’s family starts dividing his assets