Tyka Nelson, the sister of Prince, put speculation to rest on Tuesday by filing papers in a Minneapolis court stating that the singer had no known will and asking that an administrator be named as soon as possible.
According to the filing, an emergency currently exists in that there are ongoing business affairs involving Prince’s holdings and estate and that an administrator needs to be appointed to attend to these dealings. She has petitioned the court to name Bremer Trust as the special administrator. Tyka states in the filing that Bremer Trust has worked with Prince for years and is familiar with businesses and assets.
According to Billboard, Prince is estimated to have $27 million in property and, even though his cash situation is rumored to have been tight, there is the potential for millions in income from the new found interest in the marketplace in his music.
Under Minnesota law, Prince’s assets, barring a will being filed, would go to a spouse, children and parents, none of which exist or are living. The fourth in line would be siblings of which there is one full sister, Tyka, and five living half-siblings.
Of course, nothing could be that simple. According to TMZ, Tyka’s filing also states “The decedent has heirs whose identities and addresses need to be determined.” What this means is yet to be made public. It is possible that Prince’s mother or father had additional children that have never been listed as part of the family.
It is also possible that Prince, himself, may have a child with another woman that has never been made public. If this were the case, it is possible that the child or children stands to inherit the estate in whole.
