American pop singer Prince Rogers Nelson died in 2016 without leaving a will to divide his substantial estate among his heirs including his sister, Tyka Nelson, and his half-brother, John Lewis Nelson.
Prince, who died from a drug overdose at age 57, left an estate worth untold millions. But Comerica Bank, the estate’s personal representative, claims Prince’s estate is undervalued and the bank wants his relatives to stop begging for money.
Comerica filed a motion asking the court to deny Prince’s heirs’ petition, where they claim they have not seen a penny from the bank.
The bank claims if they are forced to pay money to the relatives, they would have to sell off an asset of the estate.
They point out an issue with the IRS that has to be settled before they sell off any assets. Comerica says the heirs are fully aware of the issues with the IRS, which include the Internal Revenue Service believing the estate is being undervalued by the bank on paper.
The estate says, “And while the Personal Representative is sympathetic to the financial situation of the Nelsons, the Nelsons have refused to take advantage of opportunities to participate in consulting opportunities arranged for them by the Personal Representative in connection with Paisley Park and entertainment transactions.”
As The Blast first reported, Prince’s siblings, Sharon, Norrine and Prince’s brother, recently filed a petition for compensation from the estate.
