Musician's assets will be split with siblings with bank taking temporary charge of his estate
A judge has confirmed that Prince died without a will and placed a bank in charge of his assets.
Prince’s assets will be distributed evenly by his brothers and sisters while Prince’s bank Bremer Trust will serve as the administrator of Prince’s estate. This will be the case for up to six months while an individual representative is appointed. It is believed that the estate is worth around $150m (£102m).
The late music icon passed away at his Paisley Park home in Minnesota last Thursday (April 21), aged 57. Reports state that he was found collapsed in a lift and pronounced dead at 10.07am. A postmortem has been carried out but no cause of death has yet been confirmed.
Meanwhile, Prince‘s lawyer was recently forced to deny reports that the singer died of a drug overdose.
L. Londell McMillan, Prince’s lawyer and former manager who had known the star for 25 years, disputed reports that his client was hooked on painkillers, saying that the singer was “not on any drugs that would be any cause for concern”.
However, McMillan admitted that he could have been on some sort of medication. “People use medication. The question is, are you on meds in a dangerous way?” he added.
McMillan went on to deny that Prince had used any hard drugs: “Everybody who knows Prince knows he wasn’t walking around drugged up,” McMillan said. “That’s foolish. No one ever saw Prince and said ‘He looks high.’ It wasn’t what he was about.”
The star’s remains were cremated after a private memorial service held at Paisley Park on Saturday (April 23).
Since his death, tributes to Prince have ranged far and wide with President Barack Obama stating “Today, the world lost a creative icon” and musicians including Madonna, Paul McCartney, Mick Jagger, Frank Ocean, The Weeknd and Katy Perry leading the tributes.