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Prince's Estate Valued at $156m after 6-Year Legal Battle - One Heir Died Months before It Was Finalized

Esther NJeri
Jan 17, 2022
06:50 A.M.
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Prince was a worldwide sensation. Known globally for being the King of Pop, his music made him famous among fans and celebrities alike. Unsurprisingly, his death came as a shock to many.

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Born Prince Rogers Nelson in 1956, Prince became interested in music at a young age and taught himself how to play the piano, guitar, and drums. His life revolved around music, and he recorded upwards of 42 studio albums.

The star, however, met his untimely death in 2016 at Paisley Park, Chanhassen, Minnesota, United States. In 2021, years after his demise, his estate was finally valued at millions of dollars.

Singer Prince performs onstage during the 2007 NCLR ALMA Awards held at the Pasadena Civic Auditorium on June 1, 2007 in Pasadena, California. | Photo: Getty Images

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After a years-long legal battle between the potential heirs, the "When Doves Cry" singer's estate was valued at $156 million. 

The estate's administrator, Comerica Bank & Trust, and the Internal Revenue Service finally reached a consensus and agreed on the valuation of the estate after initially giving wrong estimates. 

While estimating his tangible assets was a walk in the park, complications began arising when evaluating things like the rights to his music. 

Prince headlines the main stage on the last day of Hop Farm Festival on July 3, 2011 in Paddock Wood, United Kingdom. | Photo: Getty Images

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However, the estate will attract taxes totaling tens of millions despite its colossal valuation. But once the estate is taxed, the rest will be divided among the interested parties, ending the years-long saga. 

PRINCE'S DEATH

The "Purple Rain" singer passed on in his Paisley Park studio compound in 2016. He'd been found unresponsive in his home elevator following an accidental opioid overdose.

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Years after his passing, his estate remained unvalued, unsettled, and still to be disbursed to the heirs -- his six siblings. The complications resulted from his lack of a will, resulting in highly publicized legal disputes. 

Three years after Prince's passing, one of his half-brothers, Alfred Jackson, passed on. Jackson was one of Prince's heirs. Frank Wheaton, one of Jackson's lawyers, said of the relationship between Jackson and Prince, according to USA Today:

"Alfred was Prince's older brother, and he teasingly said all the time that he taught Prince everything he knew. Alfred was his number fan."

Grammy and Oscar-winning recording artist Prince performs the song "Purple Rain" at the 46th Annual Grammy Awards held at the Staples Center on February 8, 2004 in Los Angeles, California. | Photo: Getty Images

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TMZ reported that Jackson had been found unresponsive in his Kansas City, Missouri, home. The authorities ruled its natural death, and no foul play was involved.

Before the dust settled, the Prince family experienced another heartbreaking loss after another brother, John R. Nelson, died. The oldest of Prince's siblings and one of his heirs passed on in September 2021.

Prince performs live at the Fabulous Forum on February 19, 1985 in Inglewood, California. | Photo: Getty Images

His demise came months before the singer's estate was valued. The cause of his death remains unspecified. 

According to Star Tribune, only two of Prince's siblings will inherit his fortune. The rest have already sold some or most of their inheritances to a New York Publishing company, Primary Wave. 

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