Susan Link Provides Commentary to Associated Press Article Titled, "Prince's Sister Says Musician Had No Known Will"
April 27, 2016
Susan Link, head of Maslon's Estate Planning Group, was interviewed by Associated Press for an article titled "Prince's sister says musician had no known will." The article reports that in a court filing Tuesday, Prince's only full sibling, Tyka Nelson, said she had 'no reason to believe' that Prince executed a will or any other documents saying what should happen to his estate upon his death. She asked the Court to appoint a trust company to temporarily oversee his multimillion-dollar estate.
"If he left no will or trust, divvying up his fortune could get complicated," Susan shared. "[A]ttorneys will need to get Prince's siblings to agree on asset distribution…it could get extremely complicated if they don't."
While estimates of Prince's worth are currently speculative, the article reports that his estate would likely include a dozen properties, the sale of more than 100 million albums, the value of his personal brand, and projected post-mortem earnings that could match top-earning celebrities like Elvis Presley. Sources shared, "Prince 'was as big as they get'....Will there be a business built up around Prince 50 years from now…? The answer is unequivocally, 'yes.'"
Susan Link practices in the areas of estate planning, probate, and trust administration. She works closely with families to plan the disposition of their assets, both during lifetime and at death, and to accomplish the optimal estate and gift tax planning for clients through wills, trusts, and other instruments. Additionally, Susan serves as the program director of Minnesota Wills for Heroes. The Wills for Heroes program, sponsored by the Minnesota State Bar Association, is designed to provide free legal services for the preparation of basic estate planning documents for Minnesota first responders. She is also a member of the American College of Trust and Estate Counsel and has taught as an adjunct professor at the University of St. Thomas School of Law.