The unexpected death of musician Prince stunned people across the United States and the world. Having sold more than one hundred million albums over his career and having completed many successful concert tours, Prince amassed a fortune estimated at many hundreds of millions of dollars. Considering the size of his estate, the fact that Prince died without a will or trust was surprising to many estate planning professionals.
Had Prince died with a valid will or trust in place, his assets and property would have been transferred in an orderly fashion to the manner he intended. Instead, multiple individuals have made claims against the late musician's estate. Among these individuals are Prince's sister, Tyka Nelson and six half-siblings. Moreover, other individuals have made claims against his estate as well. For instance, a federal inmate in Colorado claims that he is Prince's son. If true, this man would stand to inherit Prince's entire fortune. However Prince's estate is eventually resolved, there is no question that with a will or trust, the process would be easier, faster and relatively free of drama.