Monday 11 December 2017

Prince's estate to be temporarily managed by trust company

Prince's death last month at the age of 57 shocked the music world
Prince's death last month at the age of 57 shocked the music world

A trust company has been appointed to temporarily oversee Prince's multi-million dollar estate.

Bremer Trust was named special administrator of Prince's estate after an informal telephone conference with some of the musician's possible heirs and a judge.

The judge says Bremer Trust now has the authority to manage and supervise Prince's assets and determine his heirs.

Bremer will act as special administrator for six months or until a personal representative is appointed.

Prince's sister, Tyka Nelson, asked for the appointment of a special administrator, saying she believes her brother did not have a will and that immediate decisions about his business interests needed to be made.

Prince died last week at his home in Minneapolis. His cause of death has not been released. The value of his estate is not known.

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