Judge Denies Petition by Prince Heirs to Limit Bank’s Power Over Late Singer’s Estate

Prince

*A Minnesota judge has denied a request by Prince’s heirs to limit Comerica Bank & Trust powers over the administration of the late singer’s estate.

As we previously reported, three years after the death of music icon at age 57, his massive estate, believed to be worth hundreds of millions, remains in limbo as it is “still unsettled, still not officially valued and still not disbursed to the heirs, his six siblings,” USA Today writes.

Prince’s heirs — Tyka Nelson, his full sister, and his half-siblings, Norrine Nelson, Sharon Nelson, John Nelson, Alfred Jackson and Omarr Baker — claim administrators have spent $45 million on probate-related administrative expenses, including $10 million in legal fees. They also claim the estate still owes $31 million in unpaid taxes that continues to collect interest.

OTHER NEWS YOU MIGHT HAVE MISSED: Mathew Knowles Announces Destiny’s Child Musical for Broadway and Global Tour

The siblings are trying to take more control over the estate so they filed a petition earlier this month to limit the power of Comerica Bank & Trust. But Judge Kevin Eide ruled that the heirs presented “little or no specificity” and until they come up with some “viable alternative” the Comerica arrangement will stay in place, Billboard reports.

“While the Court certainly appreciates the Heirs’ concerns with respect to preserving estate assets, minimizing estate exposes and planning for distributions, those concerns are more effectively addressed through discourse and mediation,” Eide ruled.

The judge said while he understands that the heirs want to reduce expenses, their motions have the rick of “significantly increasing Estate expenses.”

He said reducing Comerica’s power would “create a vacuum of uncertainty” and “may result in the loss of entertainment deal opportunities, which are necessary to raise needed funds to pay estate taxes and lead to the distribution of funds to the Heirs.”

He also noted that Comerica agreed to reduce its monthly compensation from $125,000 to $110,00 (not including expenses).

The judge also ordered the bank to keep the heirs informed of the exact amount of the outstanding tax liability.

A statement from Sharon Nelson reads: “We are continued to be dismayed and disappointed in the Judge Eide partially to Comerica and their advisors who have done a poor job managing this estate.”

 

We Publish News 24/7. Don’t Miss A Story. Click HERE to SUBSCRIBE to Our Newsletter Now!

Sabrina Morrissey - Wendy Williams (Facebook-Screenshot)
50 Cent and Irv Gotti - via Grok AI
rapper GLOrilla
Amtrak
Irv Gotti - Getty
LeBron James (Petre Thomas-USA Today)
Irv Gotti - via Grok AI
Emotional couple
Lynn Whitfield at the AAFCA 2025 Luncheon. (Photo: Sheri Determan / for AAFCA)
The Weeknd
Cherelle Parker - screenshot
Read More
Aaron Pierre - screenshot
Read More
George W. Bush - Donald Trump (Getty)
Read More
WICKED: PART 1
Read More
Jimmy Butler & Kaitlin Nowak - screenshot
Read More
Kanye West and Bianca Censori on Grammy Red Carpet - screenshot
Read More
Damon Wayans
Read More
Otis Williams (Stefan Brending via Creative Commons)
Read More
Denzel Washington - Gladiator II
Read More
“Carl Weber’s The Family Business: New Orleans”
Read More

POPULAR

Sabrina Morrissey - Wendy Williams (Facebook-Screenshot)
'#FreeWendy' Movement Gains Momentum: Guardian Calls for New Testing Amid Public Statements
50 Cent and Irv Gotti - via Grok AI
NO Respect! 50 Cent Trolls and Shades Irv Gotti After His Death: 'I'm Smoking on Dat Gotti Pack' | Check Out Reactions
rapper GLOrilla
Rihanna Names GloRilla as Fenty's First-Ever Joint Partner for Spring 2025
Amtrak
Amtrak's Auto Train Offers Travel with Vehicle Transport Between Virginia and Florida
Irv Gotti - Getty
Music Industry Mourns the Loss of Irv Gotti: The Man Behind Ja Rule and Ashanti’s Success Dies At 54
LeBron James (Petre Thomas-USA Today)
NBA
Luka Doncic Trade Sparks Debate: LeBron James' Influence on Lakers Questioned
Irv Gotti - via Grok AI
Is Irv Gotti 'Brain Dead?' Unverified Reports of Stroke and Critical Condition Surface - Gotti's Family Remains Silent | VIDEO
Emotional couple
12 Common Phrases that Signal Emotional Immaturity
Lynn Whitfield at the AAFCA 2025 Luncheon. (Photo: Sheri Determan / for AAFCA)
Lynn Whitfield, Amber Rasberry, RaMell Ross, and More Honored at AAFCA 2025 Luncheon | EURexclusiveWATCH
1 2 3 8,542