MINNEAPOLIS (AP) — The six-year legal battle over pop superstar Prince’s estate has ended, meaning the process of distributing the artist’s wealth could begin next month.
MINNEAPOLIS (AP) — The six-year legal battle over pop superstar Prince’s estate has ended, meaning the process of distributing the artist’s wealth could begin next month. The Minneapolis Star Tribune reports that the Internal Revenue Service and the estate’s administrator, Comerica Bank & Trust, agreed to value Prince’s estate $156.4 million, a figure that the artist’s heirs have also accepted. The valuation dwarfs Comerica’s earlier $82.3 million appraisal. The Internal Revenue Service in 2020 had valued the estate at $163.2 million. Prince, who died of a fentanyl overdose in 2016, did not leave a will. Since then, lawyers and consultants have been paid tens of millions of dollars to administer his estate and come up with a plan for its distribution.
