The battle for the Prince’s Estate is drawing to a close

More than six years later Prince‘s deathThe trial for the distribution of his estate is finally over.

“There has never been a probate case in Minnesota as complicated as this one,” noticed Joe Cassioppi, an attorney who represented Comerica Bank, the company that had served as the estate’s administrator.

The late musician’s estate, valued at $156.4 millionwill now be split between Prince’s three eldest siblings and Primary Wave, a New York music label, which has already bought the estates from three other heirs.

“Our goal is to work with them to continue to build and grow Prince’s legacy as a 50% owner,” stated Primary Wave’s attorney, Eric Magnuson (as reported by Star Tribune). “We have everyone’s best interests in mind as we move forward.”

Moving on has been a challenge for all involved as the legal battle over Prince’s estate has dragged on for years. Things got complicated early on when it was revealed that the iconic singer didn’t leave a will. Many individuals came forward claiming to be Prince’s heirs before six beneficiaries were recognized by the court.

Although the parties were able to agree on a dollar amount for the music icon’s physical properties, including real estate, debate raged over the value of his intangible assets, particularly the rights to Prince’s music. Comerica Bank, the estate’s administrator, put the total value at $82.3 million, while the IRS believed it was worth $163.2 million — necessitating a much larger tax bill.

The $156.4 million figure was eventually compromised in January, opening the door to the recently concluded negotiation.

“Prince can now rest in peace,” the rocker’s half-sister, Sharon Nelson, said after the deal.

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