After six years, the legal battle over the late pop star Prince’s estate has ended, which means the process of the distribution of his wealth could begin very soon.
The ‘Purple Rain’ crooner whose wealth is totalled one hundred and fifty-six point four million dollars ( $156.4 million) was been fought over by a number of the pop stars’ potential heirs because he did not leave a will before his untimely death in 2016.
The Internal Revenue Service and Comerica Bank & Trust, the estate’s administrator, finally came to an agreement on the valuation after giving wildly different estimations at the beginning.
While the government agency originally set their opinion at $163.2 million, Comerica Bank & Trust gave a much more modest value of $82.3 million.
Prince died of a fentanyl overdose in 2016. His heirs started a legal battle following his death. Two of Prince’s six sibling heirs, Alfred Jackson and John R. Nelson, have since died. Two others are in their 80s.
‘It has been a long six years,’ an attorney for three of Prince’s siblings L. Londell McMillan said at a hearing on Friday.
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