MINNEAPOLIS (AP) – A Minnesota judge appointed a corporate trust company on Wednesday to temporarily oversee Prince’s multimillion-dollar estate, saying the emergency appointment was necessary because the superstar musician doesn’t appear to have a will and immediate decisions must be made about his business interests.
Judge Kevin Eide granted a request from Prince’s sister to appoint Bremer Trust as special administrator, giving the company authority to manage and supervise Prince’s assets and identify his heirs. Eide said Prince had no appointed personal representative but had substantial assets and owned businesses that require immediate attention and ongoing management.
The judge also noted that identities and addresses of Prince’s heirs need to be determined. Prince’s only full sibling, Tyka Nelson, requested the move Tuesday, telling the court she believed her brother didn’t have a will. Prince also has five surviving half-siblings who could share in the estate.
Eide wrote that Prince died “intestate,” meaning he did not have a valid will, and said there was no pending application or petition for probate of a will in any court. However, someone could still come forward with a will or trust document, which happened after Michael Jackson died in June 2009. Jackson’s longtime lawyer John Branca filed a will six days after his death, upending moves by Jackson’s mother to become his estate’s executor based on her assumption there wasn’t a will.
For now, Bremer Trust will act as special administrator for six months or until a personal representative is appointed, whichever is less.