As Prince Heirs Stew, Bankers & Lawyers Cash in on Estate

Billboard:

As the second anniversary of Prince’s death approaches, his heirs have yet to collect a dollar of his estimated $200 million estate. But bankers, lawyers and consultants have earned millions from it.

The long saga to settle the estate provides a cautionary tale about dying without a will, as Prince did when he died of an accidental opioid overdose at his suburban Minneapolis studio on April 21, 2016, and the heirs can’t quit squabbling. (emphasis added)

This is truly sad.

Of course, for the bankers and lawyers, there’s no incentive to “hurry things up” or “settle the estate,” because there’s no money in moving things along! The real money is in the administration of the estate. The heirs may not have seen one red cent, but you better believe the bankers and lawyers have been collecting their fees for nearly two years…

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