As mentioned the other day, Prince did not leave a will. A Minnesota court today appointed a corporate trust company as special administrator to manage his affairs and identify his heirs (I can help – his sister, 3 surviving half siblings, and the children of his 2 deceased half-siblings will inherit under law). His estate is rumored to be worth $300 million.
Three brief points:
1. A bank trustee is perfect for this role when no family members have experience in managing such a large amount of assets.
2. I hope the trustee does not quickly resume Prince’s habit of sending take down notices to Youtube for all of his videos posted in recent days. His Super Bowl performance is worth 12 minutes of your time.
3. Did anyone truly believe that Michael Jackson, who left a will, would provide for his death in a better manner than Prince?