Artist News Business News Legal

Prince heirs already concerned about new estate administrators

By | Published on Thursday 16 March 2017

Prince

So this is going well. Three of Prince’s assumed heirs have said that they might push for the Michigan-based bank that began administrating the late musician’s estate just last month to be removed from the job if it doesn’t change the way it involves them in the process.

As previously reported, there was disagreement between Prince’s assumed heirs over which individuals should oversee his estate long-term. However, agreement was reached on which bank should be the corporate administrator, with Comercia last month taking over from the Bremer Trust, which had handled the estate’s affairs on a temporary basis since the musician’s death last year.

According to Billboard, three of the heirs – Sharron, Norrine and John Nelson – are already objecting to moves by the bank to get wider discretion on how it manages the Prince estate day to day. They also claim that the company isn’t making good on promises to involve the heirs in decision making and that they are now questioning the bank’s previous claims regarding its expertise in managing entertainment assets.

The three heirs have filed papers with the probate courts expressing their concerns about the bank. It’s not clear what the position of the other three assumed heirs is.



READ MORE ABOUT:

SIGN UP GO PREMIUM CMU NEWS CMU DAILY CMU DIGEST CMU TRENDS SETLIST