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Prince’s Heirs Concerned They May Not Get Any Money

February 22, 2018 | Posted by Joseph Lee
Prince's Prince

TMZ reports that the heirs to Prince’s estate are concerned that the estate is currently spending a lot of money, in some cases over $600,000 per month, which will leave them with nothing. They are said to be bothered that it costs so much to manage the estate, and feel that when it comes time to divide the inheritance there won’t be anything left.

Comerica’s monthly fee to manage the estate is $125,000 per month. They also hired Fredrikson & Byron P.A. to represent them in court, as Prince’s label is suing Roc Nation, as well as supervise and coordinate with accounts and give advice for tax issues. In November, the law firm had fees and expenses totaling over $440,000. They also hired more attorneys to help with trademarks, overseas lawsuits and services for deal proposals.

Comerica has kept a list of where the money is going and why it costs so much. The estate is said to be worth $250 million.

article topics :

Prince, Joseph Lee