Prince's 16 Minnesota Properties Valued At More Than $32M
MINNEAPOLIS (WCCO) -- Court proceedings over the Prince's estate moved forward Wednesday. No one has publicly come forward with a will or trust.
It's not clear just how much his estate is worth, but new court filings show he owned millions of dollars in property near Paisley Park.
People close to Prince will tell you how private he was. He protected that privacy by purchasing property -- property that was close to places he frequented, much of it in Carver County and not far from Paisley Park.
Prince owned 16 properties in Carver County worth more than $32 million dollars. Paisley Park is worth $7 million dollars alone. The most expensive -- a 156-acre property between Lakes Lucy and Ann in Chanhassen -- is worth about $14 million. Near the lake property, Prince owned several homes.
Prince's sister, Tyka Nelson, asked for a special administrator to temporarily oversee Prince's estate.
"Definitely this is something that requires on-the-ground, day-to-day management," Kimberly Hanlon, an estate planning attorney, said.
A judge appointed Bremer Trust as special administrator. If Prince indeed died "intestate," or without a will, assets need to be protected and decisions made.
According to Hanlon, there is still a chance the court filings will mean nothing if someone comes forward with a will or trust.
"Every day that goes by, the likelihood of there actually being a trust is less and less," she said.
Prince may have property in other states, but court filings only show those in Carver County.
A bigger question on family and fans' minds is Prince's vault of unreleased songs that could be worth millions, and who will oversee it. Unfortunately, the answer to that question will take more time.