An inventory of Prince's estate submitted to the probate court in Carver County this week shows the indefatigable musician had acquired tens of millions of dollars in real estate and other personal property at the time of his death last year.
Prince's estate shows he hoarded cash, eschewed stocks, had $25M in property
A dozen properties, cash and 67 gold bars among items listed in inventory.
January 7, 2017 at 5:34PM
But much of the value of his estate — include the storied unreleased recordings and videos from his vault — has not yet been established, according to a file released Friday by the Carver County District Court.
The court records offer a glimpse into the late megastar's estate, the subject of an ongoing probate court case that began days after his death.
Prince died April 21 of an accidental overdose of the painkiller fentanyl, leaving no will.
His estate has been valued between $100 million and $300 million before taxes, which are expected to claim roughly half.
An asset inventory compiled by Bremer Trust, the special administrator shepherding Prince's estate, lists a dozen properties in Carver and Hennepin counties with an estimated total value of $25.4 million.
The inventory also lists about $110,000 in four bank accounts, unclaimed property, capital credits and cash, plus 67 10-ounce gold bars valued at nearly $840,000.
That's just the beginning, however.
Prince's companies, Paisley Park Enterprises Inc., NPG Records Inc., NPG Music Publishing and LotusFlow3r had more than $6 million in cash on hand at the time of his death.
NPG Records has an estimated $6.8 million in arbitration receivable.
There also are plenty of items that haven't been assigned a value yet, including musical instruments, his jewelry collection, household furnishings, a 2006 Bentley and the iconic "Purple Rain" and "Graffiti Bridge" motorcycles.
Also unclear is the value of Prince's trademarks and copyrights.
There are a number of unresolved issues related to Prince's businesses, including pending lawsuits that could affect the value of the estate.
The next hearing in the probate case, scheduled for Jan. 12, is expected to resolve a number of issues related to Prince's estate including who qualifies as an heir.
Dozens of claims have emerged over the past several months. Filings and judicial orders thus far make it appear likely that the fortune will be divvied up among sister Tyka Nelson and Prince's half-siblings Sharon Nelson, Norrine Nelson, John Nelson, Omarr Baker and Alfred Jackson.
Emma Nelson • 612-673-4509
