After six years of legal battles, all parties involved have decided on a value for the late Prince’s estate.
According to Minnesota’s Star Tribune, the Internal Revenue Service and the estate’s administrator, Comerica Bank and Trust, agreed to a value of $156.4 million. The heirs to the estate have also accepted this figure.
Earlier this year, the IRS decided that executors of the pop icon’s estate undervalued it by 50 percent. They estimated at $163.2 million instead in court filings.
In April 2006, Prince died of an accidental overdose of fentanyl at his home in Minnesota. He died at 57-years-old. Because he did not leave a will, his sister Tyka Nelson and five other half-siblings claimed his estate.
The estate will be split between three of Prince’s oldest siblings and Primary Wave. Primary Wave is an independent music publishing and talent management company that purchased the interests of the singer’s younger siblings.
Advisor for the heirs of the estate, Charles F. Spicer Jr, confirmed the value of the estate to EW. He claimed that the family is thrilled that the extensive legal battle is finally over.
“We’re looking out for the best interest of fans [and] ensure that Prince’s legacy remains for generations to come,” he said.
Last spring, the IRS and Comerica agreed on the real-estate portion of Prince’s estate. However, they still had to agree on the values of other assets. These assets include the rights to Prince’s music. Now that’s a lot of responsibility.
Comerica actually wanted to bring the issue to court but ended up agreeing on the value of $156.4 million.
‘Wheel of Fortune’ Contestant Shares Story About Meeting Prince
It’s not a surprise for contestants on Wheel of Fortune to share unique information about themselves. But this one about the late singing legend, Prince, is pretty high on the list.
In a November episode of the hit game show, contestant Desiree revealed that she once danced with Prince. Once the dance party ended, he gave her some pointers on playing pool.
“I was with my fake ID at Glam Slam, his nightclub in downtown L.A., and security came up to me I thought they were busting me for my fake ID, but no, it was because Prince wanted to dance with me,” said the competition guest.
According to Desiree, before the pool lesson began, she and the ‘Purple Rain’ singer danced to ‘Rump Shaker.’ Am I supposed to recognize that song? ‘Purple Rain’ is a classic, but. . . . .’Rump Shaker?’ Maybe I’d know it if I heard it.
Believe it or not, the gameshow contestant still plays pool today. Although she claims to play the game “very badly.”
Bad pool-player or not, the game brought Desiree extremely close to Prince!