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Prince estate administration gets complicated

Let's be honest: It's really not a surprise that the administration of Prince's leviathan estate is getting complicated. The artist had properties, cash reserves and a wealth of creative assets that need management, and with heirs still tied up in probate court, much of that management is coming from the temporary trustee.

The trustee in question isn't a person, it's an institution. The court previously appointed Bremer Trust to administer the estate, as it recognized work needed to be done with the assets even while heirs were coming out of the woodwork to be recognized -- or not -- by the court. While potential heirs and their stories fueled much of the media about the estate since April 2016, the Bremer Trust has been busy managing concerts and battling over rights to the artist's work.

Now, Bremer and experts that it appointed to help with these matters is being accused of mismanaging some of the aspects of the estate. Those accusations are coming from some of Prince's most likely heirs, who say that the experts didn't handle an October tribute concert correctly. The heirs want to hold Bremer Trust responsible for what they see as a botched job. They also accuse one of the appointed experts of holding tribute profits that were supposed to go to the estate's heirs.

These are just a few of the legal and estate issues that Bremer Trust is dealing with regarding the Prince estate. While the issues are obviously in proportion to the star's estate, they are a good illustration that estate administration isn't without it's headaches. If you're dealing with an estate -- no matter what size -- and are facing legal issues or accusations, working with an experienced estate lawyer can help you navigate the issues and bring them to a more positive conclusion.

Source: Billboard, "Prince Legal Moves: Tidal Claim Progresses, Bank Pushes Back On Heirs' Accusations of Tribute-Concert Mismanagement," Keith Harris, Feb. 01, 2017

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