Making it (Purple) Rain! Prince’s $156M estate is FINALLY settled in probate court six years after music legend died without a will… as fortune is split between family members

• Independent music publisher Primary Wave received 50% of the estate 
• The remaining 50% will be divided among Prince’s half-sisters Sharon L. Nelson and Norrine Nelson as well as their two advisors 
• The two camps of heirs will now convert his holdings into limited liability companies

The late great Prince Rogers Nelson’s $156M estate was finally settled in Minnesota probate court on Monday – six years after he died without a will.

The seven-time Grammy winner had eight total siblings, but four of them have passed away – Lorna (2006), Duane (2011), Alfred (2019), and John (on September 3).

Prince’s 62-year-old sister Tyka Nelson and 52-year-old half-brother Omarr Baker both sold their shares to independent music publisher, Primary Wave, which received 50% of the estate.

‘Prince is almost free to rest now’: The late great Prince Rogers Nelson’s $156M estate was finally settled in Minnesota probate court on Monday – six years after he died without a will (pictured in 1985)

The Purple One’s 80-year-old half-sister Sharon L. Nelson and 75-year-old half-sister Norrine Nelson as well as their advisors L. Londell McMillan and Charles Spicer will share the other 50% of the estate.

Prince’s assets will be disbursed through ‘$6M in cash and many times that in music rights and other intangibles,’ according to Billboard.

The two camps of heirs will now convert his holdings into limited liability companies, and create a management plan for how to work together and administer music and other jointly-held assets.

‘We will miss you Johnny!’ The seven-time Grammy winner had eight total siblings, but four of them have passed away – Lorna (2006), Duane (2011), Alfred (2019), and John (on September 3)

‘We look forward to a strong and productive working relationship’: Prince’s 62-year-old sister Tyka Nelson and 52-year-old half-brother Omarr Baker both sold their shares to independent music publisher, Primary Wave, which received 50% of the estate

Heirs: The Purple One’s 80-year-old half-sister Sharon L. Nelson (L) and 75-year-old half-sister Norrine Nelson (R) as well as their advisors L. Londell McMillan and Charles Spicer will share the other 50% of the estate (pictured with half-brother Omar Baker in 2017)

‘We are relieved and thrilled to finally be done with the Probate Court system and bankers who do not know the music business and did not know Prince,’ advisor L. Londell McMillan told Billboard via email. 

‘I represented Prince for over 13 years and we led with innovation to reform the music industry – we hope to do the same with his amazing assets and catalog, from his music, film content, exhibits, merchandise, Paisly Park events, branded products and more. It is a historical and very exciting time. Prince is almost free to rest now.’

The Oscar-winning songwriter passed away, age 57, from an accidental fentanyl overdose in 2016 after selling over 120M albums worldwide.

‘We are relieved and thrilled’: Prince’s assets will be disbursed through ‘$6M in cash and many times that in music rights and other intangibles’ (pictured in 2004)

One more step! The two camps of heirs will now convert his holdings into limited liability companies, and create a management plan for how to work together and administer music and other jointly-held assets (pictured in 2007)

Final concert: The Oscar-winning songwriter passed away, age 57, from an accidental fentanyl overdose in 2016 after selling over 120M albums worldwide (pictured in 2016)

The Prince Estate has released three posthumous albums – Piano and a Microphone 1983 (2018), Originals (2019), and Welcome 2 America (2021)

Fans can catch more from the Rock and Roll Hall of Famer in Prince: The Immersive Experience, which runs through October 9 in Chicago.

Prince’s beloved 65K-square-foot complex Paisley Park in Minnesota is also open to the public.

Recorded in 2010: The Prince Estate has released three posthumous albums – Piano and a Microphone 1983 (2018), Originals (2019), and Welcome 2 America (2021) 

Tickets range $39.50-$66.50! Fans can catch more from the Rock and Roll Hall of Famer in Prince: The Immersive Experience, which runs through October 9 in Chicago (pictured May 12)

Source: Read Full Article