Prolific singer, songwriter, performer and actor Prince died age 57 on 21 April 2016. The diminutive man who rose to fame in the late 70’s and early 1980’s became globally famous with the release of his hit single Purple Rain in 1984 will be missed by his many fans and contemporaries.
It is reported in the press that no Will has been located meaning Prince died intestate and that his legacy estimated at hundreds of millions of dollars will be most likely shared between his six siblings or half siblings as his heirs.
The absence of a will may come as a surprise to some professionals bearing in mind the control he exerted over his musical rights, image, likeness, name and recordings during his lifetime.
An American bank has been appointed to administer his estate the value of which has the potential to grow in the future with income generated by royalties and product licences.
You don’t have to be super rich to need a will. If you have accumulated wealth in your lifetime, run a business or have a complex family relations, it makes sense to make a will. Only with a valid Will in place do you have a degree of control over your legacy when you die.
Contact our Private Client experts for advice.