Prince estate gets first court hearing Monday
Newly filed court documents state that Prince left no will before he died and that Bremer Trust has been appointed a special administrator for his estate.
A Carver County judge has scheduled a Monday hearing, the first court appearance tied to issues involving the iconic Minnesota superstar's holdings.
Prince died last week at age 57. The precise value of his estate is unknown.
Experts say Prince left behind a complex estate that will take some time to sort out.
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"There are multiple levels of rights involved and different bundles of rights," said Paul Bezilla, an entertainment lawyer in Minneapolis. "There are the copyrights in the recordings themselves, there are separate copyrights in all the songs themselves, there are separate rights in Prince's name and likeness image for merchandising purposes."
Media reports often peg Prince's worth at $250 million to $300 million without providing any source for the estimate.
But it's impossible to get even an approximate dollar amount of Prince's fortune, Bezilla added, given the artist's secretive nature and lack of continuity in how he managed his business.
The Bremer Trust appointment sought by Prince's sister and half-siblings is for six months or until a more formal supervisor is appointed. The trust is also tasked with identifying Prince's heirs.
MPR News reporters Tim Nelson and Riham Feshir contributed to this report.
Read the filing: