Prince’s Estate Might Be Worth More Than The Administrators Said It Was
Written by Site Hub on January 5, 2021
Ever since Prince passed away in April of 2016, there has been an ongoing legal battle to determine the distribution of his estate. Prince didn’t have a will and now the IRS is saying that the estate is extremely undervalued, monetarily speaking.
According to the Associated Press:
“The IRS determined that Prince’s estate is worth $163.2 million, overshadowing the $82.3 million valuation submitted by Comerica Bank & Trust, the estate’s administrator.”
Since there wasn’t a will, the estate was split six ways between his siblings, who might have to pay more in taxes and fines if the IRS comes after them.
Source:
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