topic Re: Prince had no will? in Community Chat

Prince had no will?

butterfly123 — Wed, 27 Apr 2016 23:41:26 GMT

Numerous outlets are reporting his sister Tyka Nelson has informed the judge that Prince did not have a will.

I find this hard to believe and I think there is a will.

Thoughts?

Re: Prince had no will?

MickD — Wed, 27 Apr 2016 23:36:32 GMT

@butterfly123 - I am surprised that he didn't have a will....time will tell, right? We don't have a will.....my husband is an attorney....really? Why don't we have a will? I gotta get on his case and make it a priority. Who wants their family to go through the mess of probate, family strife, etc......

Re: Prince had no will?

Mz iMac — Wed, 27 Apr 2016 23:36:55 GMT

Prince sister "thinks" he left no will as no lawyer has come forward w/one. No record of a will in Probate either.

A judge is still "investigating." In the meantime until the "investigation" is completed, bank trustees will handle the estate.

Re: Prince had no will?

butterfly123 — Wed, 27 Apr 2016 23:45:58 GMT

@MickD

I think there is a will also. Prince was a very private person and had a very small group of people he trusted with sensitive information. 💰

Re: Prince had no will?

catwhisperer — Wed, 27 Apr 2016 23:49:07 GMT

I'm sure he must have had lawyers who recommended he have a Will. Sounds crazy that he would not have one. After my inlaws died with no Wills, and dealing with the nightmare of Probate, my DH and I made sure we had Wills and buriel arrangements in place for our future needs.

Re: Prince had no will?

butterfly123 — Thu, 28 Apr 2016 00:00:30 GMT

If and only if he had made his own funeral arrangements I would certainly have thought he would have had a will. Since there was also talk of His Paisley Park compound becoming a museum.

I don't know what to believe???

Re: Prince had no will?

Big Sister — Thu, 28 Apr 2016 00:01:20 GMT

@MickD, I guess it's time for you to make an appointment with an estate planning attorney. Tell you husband the date and time and meet him there.

Re: Prince had no will?

Annabellethecat66 — Thu, 28 Apr 2016 00:01:37 GMT

They are reporting that he did not have a will. According to TMZ and other news agencies, his sister has an independent Executor taking of his finances, etc. This Executor will be the one to divide up his possessions, etc.

I heard that she has said that she would like his 1/2 siblings to each receive equal amounts.

That was very wise of her because some of these celebrities who didn't have wills, well, their families (even after as much as 20 years) are still fighting over possessions, money, etc.

Everyone should have some kind of will. You can get the forms on line and even buy computer packages that make 'will making' relatively easy. You MUST take it to a notary (bank, etc) and have it notarized (so it's legal).

I have friends who say, "I don't own much". I say, "Well, you'd be surprised at how much you REALLY do have". Once you start adding things up often it equals more than people realize.

You should also have a directive on whether or not you want to be kept alive by all means, etc (there are names for all of this and forms for all of this).

When my husband died unexpectedly, my oldest daughter and I went to a lawyer who specializes in wills because my husband and I owned a lot of land and small 2 person businesses (he was an investor).

Talk to your loved one first and decide what you and they want. Then, if I were you, I'd talk to people who are very close to you, very close, (i.e. children) and tell them just where the will is kept (preferably in a safe) safe are usually in banks and they are way more inexpensive than people realize. Most of them cost under $100 per year. You can put in there anything you want.

Have an Executor and give them a copy of the will or tell them exactly where it is. It is usually better to have an executor who is not your husband or wife (there is a lot to deal with) in Va they are sworn in and believe me, the IRS will be watching. The Executor is responsible for making sure any of the deceased's bills are paid first and then following out the rules of the will.

There is more but you get the idea. It's best to not scribble something on a blank piece of paper. My friends have gotten their wills from Staples, etc. They are as legal as going to a lawyer and costs way less. Just get the final paper notarized so it can never be contested.

There are people here who probably know a lot more of the legal aspects of all of this. What I have said is just the bare bones of it.

There are so many things you can do to prepare ahead in case a husband or wife dies. I won't go into it but in the long run it can save you a lot of money (ONE WORD...inheritance tax).

I just find it unbelievable that all of these people who surround him never had him sit down and make out a will!!

One note. I recently saw an interview by the gentleman who handled much of Prince's business. He said the people in his town and surrounding have no idea about all of the money and things he did for these communities. He rattled on and on about a few of the things he's done. He said, "There are people who have solar power on their roofs because they couldn't afford electric bills and never knew that he bought that solar equipment".

He said, (I don't know if this is true because I'm not familiar with this religion) but he said that Jehovah Witness religion says that one is not supposed to talk about the good things they do for others. He said Prince followed that rule and no one was allowed to tell about all that he did for people.

It was funny because today I was having lunch with a dear friend and I told her about my Mother loved Prince and as soon as his movie came out, she bought it. I said it was a joke in our family about my mother (who was then in her 60's at least) liked Prince. She looked at me and said, "That's funny because after my mother died we went through some of her things and found a Prince T-Shirt! She said, "I had no idea she even knew who he was". Isn't that funny?

Re: Prince had no will?

Sooner — Thu, 28 Apr 2016 00:14:46 GMT

He may not have had a will as such but there are other ways to transfer wealth after death.

Or it simply may not have mattered to him. I can see that.

Re: Prince had no will?

kivah — Thu, 28 Apr 2016 00:25:50 GMT

He was a very strange guy --- guess he wanted people to fight over his money!!!!!

Re: Prince had no will?

Goldengate8361 — Thu, 28 Apr 2016 00:35:24 GMT

Sounds like he wasn't expecting to die anytime soon! I, too, found it amazing that he didn't have a will. I would have thought that some of the attorneys that he undoubtedly worked with would have pushed him to take care of this. I don't have a will and I am now inspired to do this!

Re: Prince had no will?

lucymo — Thu, 28 Apr 2016 00:38:57 GMT

Even though Prince had health issues maybe he just hadn't faced the fact that he could die. Some people just will not deal with the death details. It sure would save a lot of problems if we all have a plan in place. We just updated ours a couple of years ago.

Re: Prince had no will?

RedTop — Thu, 28 Apr 2016 00:48:29 GMT

Don't business managers assist with making sure all the I's are dotted and the T's crossed when managing someone's affairs?

Re: Prince had no will?

september — Thu, 28 Apr 2016 01:15:29 GMT

@Sooner wrote:
He may not have had a will as such but there are other ways to transfer wealth after death.

Or it simply may not have mattered to him. I can see that.

We don't have a will...we have a family trust. Almost everyone I know has gone this route, rather than using the traditional will.

Re: Prince had no will?

Mominohio — Thu, 28 Apr 2016 01:39:47 GMT

Only time will tell for sure, but it wouldn't surprise me in the least that he made no plans for the distribution of his estate, whether with a will or trust.

He was proud of being different, and it wouldn't be outside the realm that he didn't care what happened to his stuff after he died.

If not, wonder what will happen with all that unreleased music it is rumored is there. That alone should be worth a ton.

Re: Prince had no will?

Michigan Nancy — Thu, 28 Apr 2016 01:40:52 GMT

Call me crazy, but I can't figure out why we should care!?!? Really?

Re: Prince had no will?

butterfly123 — Thu, 28 Apr 2016 01:49:14 GMT

@Nancy in Michigan wrote:
Call me crazy, but I can't figure out why we should care!?!? Really?

Sorry

Didn't mean to offend you.

Thank you

Re: Prince had no will?

Susan in California — Thu, 28 Apr 2016 01:57:16 GMT

I find it incredible that a 57 year old with such a huge estate value would not have at least a will. When we got married and bought a home, we made a will.

As we got older and owned more, our financial advisor told us to get a Living Trust. This was many years ago; we were far younger than 57 and of course

in no way in the one percent. If he didn't at least have a will, I am incredulous.

His estate will probably be worth double postumously considering he had so much more music to unveil.

Re: Prince had no will?

Sooner — Thu, 28 Apr 2016 02:27:29 GMT

He isn't us,he is and was PRINCE!

Re: Prince had no will?

Shorty2U — Thu, 28 Apr 2016 02:31:00 GMT

I read that too. I cant believe that he did not have a will being he has so many assets and the way he fought (and won) to get ownership of his music!