Potential Heir to Prince’s Estate Emerges

I recently posted an update on the continuing saga of Prince’s estate. I reported that the probate court judge narrowed the list of potential heirs to Prince’s estate by throwing out the claims of 29 would-be heirs. The list is getting smaller after reaching a high of about 700 potential heirs shortly after his death. Just when it looked like some clarity in determining the rightful heirs was being achieved, along comes someone else now claiming to be Prince’s son, which would make him the sole heir. In an August 1 article reported in the Santa Monica Observer, genetic testing purportedly has determined that Prince had a son. Prince was married twice but divorced both times.

The person now claiming to be a son is the child of a singer who used to perform in the same clubs as Prince in the 1980s and supposedly had several liaisons with him. This sad and unfortunate mess that Prince left behind could have easily been avoided had Prince simply set up a trust and taken some other basic planning steps. I run into people all the time who tell me they do not have an estate plan in place, not even a simple will. I correct them by telling them that they have a plan in place alright … it is just not their plan. It is the State’s plan. The State has a plan for you if you choose not to do one yourself … and you probably will not like the State’s plan.

Here is the article if you would like to learn more … enjoy!

Written by Legacy Planning Law Group

Legacy Planning Law Group is dedicated to working with individuals and families to help protect the assets they have built throughout their life, and make everything simpler for families who have lost a loved one. We help thoughtful people achieve the peace of mind that comes with planning their personal legacy and passing on family harmony.