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Artist News Business News Legal
Prince siblings can’t agree on permanent administrator for his estate
By Chris Cooke | Published on Thursday 8 December 2016
The Minnesota-based wealth management company that was made the temporary special administrator of the Prince estate following the musician’s death earlier this year has confirmed that it’s only interested in performing that task on an interim basis.
The Bremer Trust told the court overseeing the estate that it only ever intended to take on the special administrator role until 2 Jan next year. Though it seems that the star’s siblings can’t agree on an alternative.
His sister Tyka Nelson has proposed New York-based Fiduciary Trust Company International as a new special administrator and eventual executor of the estate, with Michigan-based Comerica Bank as a second choice. It’s not known what alternatives Prince’s other siblings are proposing.
To that end, a legal rep of the Bremer Trust told the judge this week that, while her client was expecting to step down next month, there was no need to rush a decision on a replacement, so to ensure all presumed heirs can present their preferences.
Elsewhere in Prince news, court documents have shown that Jay-Z’s Roc Nation did try to win the gig to manage the musician’s musical assets in the weeks after his death. The legal papers making that claim are linked to the previously reported litigation in which Prince’s label and publishing business accuses Jay-Z’s streaming service Tidal of making big chunks of the musician’s catalogue available without the proper licence.
