Coolio’s longtime manager has been given the go-ahead by a Las Vegas judge to oversee the late rapper’s estate.
Court documents obtained by RadarOnline show that Jarel “Jarez” Posey petitioned the court to be named administrator over the estate. The judge granted his request and authorized him to handle Coolio’s financial matters and collect residuals.
Posey noted in his petition that Coolio left behind no will and named the “Fantastic Voyage” rapper’s children as beneficiaries. The estate is estimated to be about $300,000, but a final number has yet to be determined.
Posey asked to be appointed executor to stop “waste and/or loss of the personal property of [Coolio]. Specifically, the estate is believed to include personal property and demand deposit accounts, financial accounts, insurance policies, and royalties, all of which need to be marshaled and protected on behalf of the estate.”
As executor, he sought authorization to ”access monies from Decedent’s personal property and accounts, and the same shall be placed in the attorney’s IOLTA Trust Account until further ordered by the Court.”
All of Posey’s requests were granted.
Coolio died in September in Los Angeles at the age of 59. The rapper’s cause of death was determined to be a fentanyl overdose.
