The Prince’s Legacy: Court Staff Closest to Dividing Assets

The Prince's Legacy: Court Staff Closest to Dividing Assets

Paris, 2021-12-22 17:50:01. The Prince’s Legacy: Court Staff Closest to Dividing Assets

MINNEAPOLIS — Court officials are close to splitting the property of pop star Prince.

The Minneapolis Star-Tribune reported Wednesday that November tax returns show that the Internal Revenue Service and real estate director Comerica Bank & Trust reached an agreement in November over the total value of Prince’s assets.

The exact number has not been disclosed but it could be more than $100 million USD. The IRS last year determined Prince’s assets to be worth $163.2 million. Comerica estimated the figure at $82.3 million. IRS officials felt Comerica’s total was so low that they imposed a $6.4 million fine on the estate.

The agreement has yet to be approved by the Carver County Probate Court. The court is due to begin discussions in February on how to divide the assets.

The estate will likely be split between the Elementary Music Company of New York and Prince’s three oldest heirs or their families. The initial wave bought out all or most of the interests of the three Prince siblings.

Prince died of a fentanyl overdose at his home in Paisley Park in Carver County in April 2016. He did not have a will.

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