Prince left behind a huge fortune and without a will, there are many questions as to who will ultimately inherit his fortune. Part of the music legend’s inheritance includes a huge vault of unreleased music. Who will inherit Prince’s fortune and what will they do with the legacy that Prince left behind?
Here’s what you need to know.
1. Prince Left Behind Enough Unreleased Music To Release One Album a Year for the Next Century
Prince left behind a huge vault of unreleased music. According to Kevin Smith, who made an unreleased documentary about Prince, the vault includes at least 50 full-produced, completed music videos that Prince’s producers made that were never released.
According to Rolling Stone, the music in the vault is among Prince’s best work. He also said there were several vaults, not just one. But only one vault has been listed in the news recently. According to Metro, the company that has temporary control of Prince’s estate had to drill open the vault in order to inventory its contents.
Among the items in the vault, Prince told Rolling Stone, were complete Revolution albums, two Time albums, and one Vanity 6 album.
One of the items in the vault is a documentary that Kevin Smith did about Prince. You can see Smith talking about the documentary and Prince in the video above. The part about the vault starts at 28 minutes in.
2. He Did Not Leave a Will, So His Estate Will Likely Be Split Among His Siblings
Despite having amassed such a huge fortune and leaving behind so many works, Prince did not have a will, ABC reported. His sister, Tyka Nelson, filed paperwork stating that she did not know of the existence of any will. Daily Mail reported that after he had problems with contracts that he signed when he was younger, Prince was paranoid about putting his signature on anything, which is likely why he did not sign a will.
Without a will, Prince’s estate will likely be split among his living siblings. Tyka is his only full-blooded sibling. But the estate will be divided equally among her and his half-siblings. His living half-siblings are Omarr Baker, Alfred Nelson (sometimes called Jackson), John Nelson, Norrine Nelson, and Sharon Nelson.
3. Prince May Have a Grand-Niece Who Could Inherit 1/7th of His Estate
In addition to Prince’s half-siblings, any heirs to siblings who are now deceased could also inherit part of his estate. According to The Mirror, Victoria Nelson is his grand-niece who might also inherit 1/7 of his estate.
Victoria is the granddaughter of Prince’s half-brother Duane Nelson, who died in 2011. Before Duane died, his son Casper died at the age of 26 in 2005. Victoria is Casper’s daughter. Victoria is under 18.
The Mirror reported that her name was not included in the pleading that Tyka filed in Carver County District Court, but she may still have a right to a portion of the estate.
4. His Estate May Be Worth More than $300 Million
In Tyka Nelson’s court filing, she said that the value of Prince’s assets and estate are unknown. Prince’s net worth is rumored at $300 million, but some say those figures are high because of how much he spent.
Sheila E., a close friend of Prince’s and former romantic interest, has expressed concern that people may try to take advantage of Prince’s death.
5. A Man Claiming to Be Prince’s Son Also Wants Part of the Inheritance
An unnamed man has come forward claiming to be Prince’s son, The Mirror reported. He claims that he was born in the 1980s in Minnesota, Prince’s home state. His name has not been released, but he is enlisting the help of Heir Hunters International for his claim. He said he was the result of a “fling” from the 1980s, Daily Mail reported. If his claim seems potentially real, then Heir Hunters will order a DNA test.
Heir Hunters said it has been getting many calls since Prince died, Daily Mail reported. Hundreds have claimed to be related or children of Prince, but most, if not all, of these claims are likely not true.