It looks like the feud over the Prince estate may be winding down after the IRS has deemed his assets to be $156.4 million.
After years of bickering about the exact worth of his estate at the time of his death, the Internal Revenue Service and the administrator of Prince’s estate, Comerica Bank & Trust, have agreed on the massive amount.
Initially, Comerica valued the estate at $82.3 million. However, the IRS argued that figure in court. The agreement brings to a close a six-year battle over control and his money, as he did not leave a will at the time of his 2016 death.
“It has been a long six years,” said L. Londell McMillan, an attorney for three of Prince’s siblings. Six of Prince’s siblings were determined to be the heirs. However, two have passed in the years since his death. Therefore, Comerica will now evenly divide the estate between the three oldest heirs and a New York music company called Primary Wave, which previously acquired a major stake in Prince’s estate.