By Amanda Wicks
Prolific songwriter and musician Prince did not leave a will behind, according to his sister and only surviving full sibling Tyka Nelson, so she’s asked the court to appoint an administrator to step in and handle his estate.
Nelson filed a request on Tuesday (April 26) in a Minneapolis court, requesting that a judge appoint Brener Trust to see to her brother’s estate (via The Hollywood Reporter). Court documents reveal that Brener Bank managed provided Prince with financial services for several years. Nelson stated that the matter was urgent, and sought an immediate action.
It’s unclear how much his estate is worth, but considering Prince’s sales skyrocketed over 40,000% following his death, the urgency of the matter seems clear (via The Washington Post). His estate is not just about what Prince earned up until his death, but what his estate will continue to bring in by way of licensing fees.
“Will there be a business built up around Prince 60 years from now like James Dean? The answer is unequivocally yes,” said Mark Roesler, chief executive of CMG Worldwide, the company behind licensing agreements with the estates of Marilyn Monroe and other dead celebrities. Whether licensing Prince’s music or his image, his estate could continue to accrue earnings that will need to be managed. If Prince did have an unknown will naming his heirs, they could be entitled to those future earnings.