Serious Issues: Prince’s Family Has A Problem With $55 Million That Was Spent From His Estate

Posted On : April 17, 2019

“The heirs are understandably frustrated that, three years after their brother’s death, the Estate is not ready to be closed. But the fact remains that until the Estate resolves its tax liability with the IRS and MNDOR (Minnesota state taxes), neither the court nor Comerica can close the Estate or make a distribution of assets to the Heirs.”

Comerica says the heirs have no evidence to back up their claims against them. They argue since joining on, they have tried to work with all of the heirs, but claim they can’t come to their own agreement as a united front.

In their response, Comerica also points to several instances within the last six months where they have assisted the heirs in various estate matters. They say they modified a television commercial for the NCAA Final Four at their request, moved the urn containing Prince’s remains from public view, handled his merchandise deals and agreed to let the heirs use Paisley Park for a proposed concert for free.

Comerica is demanding the court deny the petition and not limit their power, saying it will hinder their ability to finalize deals and close the estate.

The stress!..

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We salute the incredible people and beautiful memories of that "old school". We’re not saying that every artist and every facet of the soul era was perfect, but the artists’ contributions to soul music and the old school memories of that particular time are PRICELESS.