Prince fans and those interested in estate planning law have been paying close attention to the difficulties experienced by the heirs of the late pop musician. There have been numerous battles between people who claim to have the right to inherit part of Prince's estate and also between various business people who claim to have a right to part of Prince's estate. The fact that Prince died without finalizing a will or estate plan has made the navigation of his estate and the probate process exceedingly complicated.
In the most recent drama to surface around the late musician's wealth, a producer has been fighting to release previously unreleased music made by the musician. However, Prince's heirs have prevailed in their attempts to prevent the publication of this music. Although fans might want this music to be released as soon as possible, the win will likely benefit the heirs in the long run -- as it will preserve their ability to earn income from these extremely valuable assets.
The heirs have since removed the musician's back catalog of music from sale on the internet. Fans may selfishly want to download their favorite songs, but it's likely that Prince himself would have wanted it this way so that his family members left behind can benefit financially from his musical legacy. In fact, Prince once said, "I don't see why I should give my music to iTunes or anybody else. They won't pay me in advance for it and then they get angry when they can't get it."
When someone dies without an estate plan, it can be difficult for the people closest to the deceased to ensure that the estate is distributed and finalized in accordance with their loved one's wishes. For this reason, Tennessee residents may want to make the finalization of their estate plans their very first order of business for the coming year.
Source: Metro, "Prince’s estate wins war over unreleased music," Abigail Gillibrand, Jan. 30, 2018