Transcript - Prince's Will Fox 5 News
Some new information on Prince’s death--- reporting that police interviewed a lawyer who once represented two of the musician’s siblings, who told him Prince’s – Percocet and Cocaine, but police will not be able to question Prince’s half sister or step brother because they passed away years ago. Prince of course found dead at his estate last week in Minneapolis. KMB says he overdosed on Percocet just days before the toxicology results are still pending.
Meanwhile, there are new questions about who is going to inherit Prince’s fortune. The singer reportedly did not leave a will when he died. – shows that’s leading a lot of people to think something most of would just assume not think about.
As we await new information from Minneapolis surrounding Prince’s death, his family beginning ot take the necessary legal actions to manage his business interests. His sister Tika Nelson believes the music icon didn’t have a will.
Many people die without wills, and the reason is they either don’t get around to signing a will, or they feel that there’s bad omen.
How important is it to have a will?
If anything happens to me, how’s my family going to taken care.
Nelson asked a Minnesota court on Tuesday to appoint a trust company to temporarily oversee his multi-million dollar estate. Jules Haas, an estate planning attorney, here in New York states there are repercussions for not having a will.
Jules: When you don’t have a will you can’t specific who’s to get your assets. Therefore you’re limited to what the law allows and under the law, your assets are going to go to your next of kin, and in New York those are your distributes.
Under Minnesota law if a person dies without a will, and with no surviving parents, children or grandchildren, the next people in line to share in the estate are the surviving siblings include half siblings.
J: In New York, even if you’re a half sibling, then you’re included in that class. So you would be entitled, they would be a entitled to a share.
Haas says, leaving a will is crucial, especially if you have a large family. The reason, well, it can take a long time to identify who your next of kin is.
J: You’re subjecting your estate to many years, potentially many years of litigation, and uncertainty.
Bottom line, if you have any assets, you should have a will. Haas also recommends having a living will, as well as a health proxy is when you name someone to make health decisions for you. On the Upper East Side, I’m Jessica Promoso. Fox 5 News.