When legendary musician and Minnesota resident Prince passed away in May of 2016, his estate was estimated at more than 200 million dollars. Surely, his family was ready to collect on his net worth, right? Unfortunately, Prince did not have even a basic will set up, thus creating a media and legal frenzy that dragged out for more than a year in the courts, and is still on-going until this day. Had Prince sat down with a lawyer and done some estate planning, his family could’ve avoided the headache that came with the fierce legal battle, and been able to capitalize and stabilize his assets after his passing.
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