Prince’s estate is finally settled after a six-year lawsuit. The late singer has left no will regarding his $156 million estate.
After the singer died in 2016, his six half-siblings were named his legal heirs.
Now, according to a copy of court documents obtained by CNN, the Minnesota First Judicial District has ordered that the money in Prince’s estate be divided equally between Prince Legacy LLC and Prince OAT Holdings LLC.
Prince Legacy LLC consists of interests previously owned by three of Prince’s half-siblings, Sharon Nelson, John Nelson and Norrine Nelson.
According to court documents, Prince Oat Holdings LLC is owned by music publishing company Primary Wave and consists of interests once owned by Tyka Nelson, Omarr Baker and Alfred Jackson, as well as three separate entities owned by Primary Wave.
The documents also list the bank assigned by the court to manage the affairs of the estate during a lawsuit.
Comerica Bank & Trust will receive $3 million to pay the costs and expenses associated with closing the estate, “including the preparation of tax returns, professional fees, expenses, and any rewards entered into pending lawsuits involving the estate.” .” What remains will be split between Prince Oat Holdings LLC and Prince Legacy LLC.