Judge Makes Ruling On Prince's Estate


(Radio.com) When Prince died in April without a will, it was difficult for Bremer Trust, which administers his estate, to begin licensing deals for his music and image. Now, a Minnesota state has ruled that Bremer Trust has until November 2 to put deals in place for licensing Prince's intellectual property.

Complicating matters regarding Prince's inheritance is a dispute between his sister, Tyka Nelson, his six half-siblings and two men who both claim to be his sons.

Bremer Trust had argued that it was urgent that deals for matters such as Prince's back catalogue and unreleased music are resolved, because of a large tax bill which Prince owed.

Prince's intellectual property is estimated to be worth $300 million, but half of that could be taken by state taxes because he didn't have a will. Read more here.

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Copyright Radio.com/CBS Local - Excerpted here with permission.

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