Inventory of Prince’s estate lists cash, property, gold bars

Saturday, January 07, 2017

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MINNEAPOLIS (AP) — An inventory of Prince’s estate submitted to a probate court in Minnesota shows he had acquired tens of millions of dollars’ worth of real estate and other personal property before he died last year.

Prince died April 21, 2016 of an accidental overdose of the painkiller fentanyl. He did not leave a will. His estate has been valued at between US$100 million and US$300 million, before taxes.

Carver County District Court records show that an asset inventory by Bremer Trust, the company overseeing the estate, lists a dozen properties in Carver and Hennepin counties with an estimated value of US$25.4 million. It lists about US$110,000 in four bank accounts, as well as unclaimed property, capital credits and cash, and 67 10-ounce gold bars with a total value of nearly US$840,000.

In addition, Prince’s companies, Paisley Park Enterprises Inc, NPG Records Inc, NPG Music Publishing and LotusFlow3r had more than US$6 million in cash on hand at the time of his death. NPG Records has an estimated US$6.8 million in arbitration receivable.

Among items that haven’t been assigned a value yet are Prince’s musical instruments, jewelry collection, household furnishings, a 2006 Bentley and his iconic Purple Rain and Graffiti Bridge motorcycles. The value of Prince’s trademarks and copyrights is also still unclear.

The next hearing in the probate case, scheduled for Thursday, is expected to resolve a number of issues related to Prince’s estate, including determination of heirs. Dozens of claims have emerged over the past several months.




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