In the week following the untimely death of music legend Prince on April 21st, questions have arisen surrounding his giant vault of unreleased tunes located his massive music studio in Paisley Park, Minnesota.
A Minnesota judge has officially declared that because Prince had no will prior to his death, his $250 Million assets must be handled by the courts and the bank that Prince used for managing his assets. This means that it’s all sort of fair game, unfortunately.
In regards to the music, let’s remember that Prince had already released up to 39 studio albums and tons of other musical projects before he passed, so this extra secret vault shows just how productive he was throughout his life.
We already have a LOT of Prince. Prince was the only person to have the key for his vault, so in order to open that up, some larger mechanics will have to be involved.
Like a big ass drill. No ideas yet on what will happen with the release of the music, and who will release it (go away Apple), but I’m sure there are studios around the world currently rubbing their hands together with greed and glee!
Bremer Bank of St. Cloud, Minnesota is the institution that Prince entrusted his finances/assets with over the years and they are being tasked with taking full reign of the vault in question.
To get things rolling, last night, they decided to just go ahead and drill that fucker open. According to the judge, [the bank] must “preserve the estate and to secure its proper administration until a general Personal Representative is appointed by the Registrar or by the Court.”
The trust is also being tasked with locating Prince’s “heirs” which includes his sister Tyka Nelson as well as several half siblings. The $250 million dollar assets will purportedly be split up between Tyka and the rest of his half bros and sisters. Needless to say, it’s already becoming a hot button issue, and is fraught with emotion. There is a lot at stake with this kind of fortune.
Katrin Higher thefrisky.com | Photo: thefrisky.com
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