Post by Admin on Feb 21, 2020 17:30:11 GMT -4
Prince's Estate & Music Now Worth $200 Million
By Mike Walters
Prince left behind a legacy of music and properties that have been at the center of years of court battling, and it has now been revealed in the fight that estate of the late singer is currently worth $200 Million.
According to legal documents, obtained by The Blast, the specifics on how much Prince's estate is worth came up in a new battle for the rights to his brother's estate who has also passed away.
Alfred Jackson, is one of six heirs to the Prince fortune and was entitled to 1/6 share of that massive fortune. But, on August 28, 2019, Alfred died at his home in Missouri, and now several of his advisors and family members are fighting over his chunk of the estate.
"Alfred was one of six siblings of Prince Rogers Nelson (aka Prince) who predeceased Alfred. After Prince's death on April 21, 2016, it was determined that Alred had 1/6 expectancy interest in the entire Prince Estate, which has a potential gross value of $200,000,000," the documents reveal.
At the time of Alfred's death, his brother Shawn Jackson filed documents in Missouri challenging a will that was filed on behalf of Alfred's business advisors.
In the purported will, Alfred's share of the Prince fortune, approximately $33 Million, would go to his business advisor and his team who helped set up the sale of his stake in the estate to a corporation. As we reported, Prince's sister also sold her stake of the fortune.
Alfred's brother, Shawn, is challenging the will and a battle is now raging in Missouri over who will be the administrator of Alfred's estate.
Numbers Came Up In Battle For His Brother's Estate
Shawn claims that at the time when Alfred signed the will and the sale of his stake in Prince's estate, he was not in any mental state to make such important decisions.
At the time, his brother says Alfred was suffering from Parkinson's disease and was under the "effects of certain psychiatric drugs."
He says Alfred was taking a drug called "Haloperidol" which is an antipsychotic medication used to "treat certain mental/mood disorders such as schizophrenia and schizoaffective disorders."
At 66 years old, Shawn alleges his brother "had a failing memory, vacillating judgment, and repeated himself often without an appreciation of the fact the same story or information had just been shared, exhibited childlike characteristics at times...and was unable to manage any financial affairs.
In other words, he was in no condition to make a decision about entering the largest financial and business transaction of his life.
Interestingly, Prince's estate isn't even fully figured out yet, and he died almost 4 years ago. But, as we have reported, many battles now rage on between his siblings over lawyers, fees, and sales of each of their respected chunk of the estate.
Alfred's brother is asking the Minnesota court, which is home of the Prince Estate case, to take notice of these issues going on with Alfred's estate in Missouri.
