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Reply #30 posted 06/10/16 7:44am

mailaccount63

FlyOnTheWall said:

Heidi said:

.

nod Thank you.

What does Prince's pain have to do with his lawyers doing their job?!!? I mean, the man had an ARMY of attorneys, and we're supposed to believe that not one of them could convince him to allow his legal and financial team to draw up an estate plan??? It's insane and I don't believe it for a second.

"Do I have a will?" you ask. How is that relevant? I don't have a BILLION $ estate.


You don't need a BILLION $ estate to have need of a Will. And estate planning is more than about assets - it is also about debts. And it isn't about YOU - it is for your loved ones. Do you have life insurance? Do you have car insurance? Do you have insurance for your house? Then you should understand the need for a Will.

[Edited 6/10/16 7:44am]

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #31 posted 06/10/16 7:47am

XxAxX

avatar

it does strike me as truly odd how fast the whole thing is moving. normal probate matters generally aren't so lickety-split. i would have guessed that the administrators would have taken the time to search ALL of prince's houses and legal counsel in all countries/states before deciding there was no estate plan. six months at least, to inventory all assets, before beginning the distribution process. it isn't really any of my business to speculate, but i feel concerned because i wish prince had left clear instructions for Paisley Park's disposition.

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Reply #32 posted 06/10/16 7:52am

E319

While I agree that it is crazy and very hard to believe that he did not leave a will....

1.) Why did he not tell anyone close to him about his plans for his estate after his death? Apparently he did not tell any of his family members or friends or employees since none of them have come forward to say that Prince told them of his intentions for his estate if he were to die. That right there leads me to believe he did not actually leave a will.

2.) Remember he had a thing with not signing contracts.

[Edited 6/10/16 7:52am]

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Reply #33 posted 06/10/16 7:53am

FlyOnTheWall

jaawwnn said:

FlyOnTheWall said:

He believed in Paisley Park. He believed in giving. He believed in an artist owning his/her intellectual property. He believed in wills. The third verse of his song "Colonized Mind" is very telling.

Verse 3 "Colonized Mind

"Upload: a joint venture record deal
It's just another way 4 the man 2 steal
While he's sticking you with the bill
Download: the temporary acquisition of fleeting fame and fortune
Nothing 2 leave in ur will"

Does this sound like a man who couldn't be convinced to leave a will???? I. DON'T. THINK. SO.

mmm, fair point. He wasn't known for being easy to pin down or for being able to sit still or turn up for appointments that weren't about what he was into at that moment though. If he didn't think he was going to die any time soon I can't see someone convincing him to turn up for a dull meeting next wednesday at 9AM when he could be off jamming. The meetings can wait.

Actually, I'd speculate that this was evidence of him not having a terminal disease as a lot of us have theorized.

[Edited 6/10/16 7:37am]

Or...if he was terminally ill, I think that makes the lack of an estate plan all the more suspect. Either way you cut it, I just can't believe he died intestate. Call me a conspiracy theorist, but I'm convinced that there is more to this story than meets the eye.

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Reply #34 posted 06/10/16 8:00am

mailaccount63

FlyOnTheWall said:

jaawwnn said:

mmm, fair point. He wasn't known for being easy to pin down or for being able to sit still or turn up for appointments that weren't about what he was into at that moment though. If he didn't think he was going to die any time soon I can't see someone convincing him to turn up for a dull meeting next wednesday at 9AM when he could be off jamming. The meetings can wait.

Actually, I'd speculate that this was evidence of him not having a terminal disease as a lot of us have theorized.

[Edited 6/10/16 7:37am]

Or...if he was terminally ill, I think that makes the lack of an estate plan all the more suspect. Either way you cut it, I just can't believe he died intestate. Call me a conspiracy theorist, but I'm convinced that there is more to this story than meets the eye.


An attorney is legally bound to step forward with the Will. Also the Will would have needed to be witnessed and/or notarized - no one has stepped forward as having done such - they are legally bound to do so.

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #35 posted 06/10/16 8:00am

FlyOnTheWall

XxAxX said:

it does strike me as truly odd how fast the whole thing is moving. normal probate matters generally aren't so lickety-split. i would have guessed that the administrators would have taken the time to search ALL of prince's houses and legal counsel in all countries/states before deciding there was no estate plan. six months at least, to inventory all assets, before beginning the distribution process. it isn't really any of my business to speculate, but i feel concerned because i wish prince had left clear instructions for Paisley Park's disposition.

EXACTLY!!!! Where is the fire???? They are already talking about selling off some of the contents of the vault to pay the tax bill!!!!!!!!!! I tell you, SOMETHING IN THE WATER DOES NOT COMPUTE.

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Reply #36 posted 06/10/16 8:02am

FlyOnTheWall

mailaccount63 said:

FlyOnTheWall said:

Or...if he was terminally ill, I think that makes the lack of an estate plan all the more suspect. Either way you cut it, I just can't believe he died intestate. Call me a conspiracy theorist, but I'm convinced that there is more to this story than meets the eye.


An attorney is legally bound to step forward with the Will. Also the Will would have needed to be witnessed and/or notarized - no one has stepped forward as having done such - they are legally bound to do so.

Under normal circumstances, yes...but this situation does not feel normal. Not to me...

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Reply #37 posted 06/10/16 8:07am

PurpleBabied

FlyOnTheWall said:

If Prince really refused to draw up an estate plan--an assertion of which I am not convinced--Londell McMillan (and the whole army of lawyers P. retained over the years) should have been more forceful. Really, I think someone is guilty of malpractice. He/They should have told Prince the horror story of what would happen if he died with no estate plan:

  1. having the government grab over 50% of his estate, off the top;
  2. having Paisley Park potentially sold;
  3. inviting a huge money grab, resulting in a public spectacle;
  4. having the contents of the vault sold to Warner Brothers for a song, just to pay off taxes and debt;
  5. having the masters, for which he fought for many, many years, be sold to Warner Brothers for pennies on the dollar.

Did no one tell him that story about his entire life's work evaporating? Seriously? And he still refused to draw up an estate plan? Right. It just doesn't make sense, does it? Personally, I believe that Prince's estate plan is being suppressed. Something in the water does not compute.

[Edited 6/9/16 20:05pm]

[Edited 6/9/16 21:04pm]

[Edited 6/10/16 7:05am]

Lawyers cannot compel their clients; they can only offer their counsel.

I personally boggled at the idea he didn't have a will or a trust set up, for different reasons.

My great-aunt was a poet, musician and composer in several different languages. She wasn't nearly as prolific but for years my uncle kept finding compositions and poems and unlabeled tapes. He'd find songs on scrap paper and unlabeled tapes and poems on grocery lists in languages he couldn't read. Once I found her music on a streaming service even though she had no real sales to speak of. My uncle was afraid to throw anything out because in some way tossing that stuff was like killing her all over again.

One would think a legendary control freak who once described his songs as "my children" would at least have a directive as to what to preserve, what to toss, what to publish and what should never see the light of day. But he also said "my creativity is my life" and once your life is over, so is your creativity.

[Edited 6/10/16 8:11am]

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Reply #38 posted 06/10/16 8:09am

XxAxX

avatar

FlyOnTheWall said:

XxAxX said:

it does strike me as truly odd how fast the whole thing is moving. normal probate matters generally aren't so lickety-split. i would have guessed that the administrators would have taken the time to search ALL of prince's houses and legal counsel in all countries/states before deciding there was no estate plan. six months at least, to inventory all assets, before beginning the distribution process. it isn't really any of my business to speculate, but i feel concerned because i wish prince had left clear instructions for Paisley Park's disposition.

EXACTLY!!!! Where is the fire???? They are already talking about selling off some of the contents of the vault to pay the tax bill!!!!!!!!!! I tell you, SOMETHING IN THE WATER DOES NOT COMPUTE.

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.

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Reply #39 posted 06/10/16 8:21am

mailaccount63

XxAxX said:

FlyOnTheWall said:

EXACTLY!!!! Where is the fire???? They are already talking about selling off some of the contents of the vault to pay the tax bill!!!!!!!!!! I tell you, SOMETHING IN THE WATER DOES NOT COMPUTE.

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.


This estate is not moving abnormally fast at all. There are many items in PP to safeguard. PP is a business. There are many people that depend upon PP functioning. The fire is finding a way to pay the upcoming tax bill - they are throwing all possible answers to this problem on the table.

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #40 posted 06/10/16 8:23am

XxAxX

avatar

mailaccount63 said:

XxAxX said:

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.


This estate is not moving abnormally fast at all. There are many items in PP to safeguard. PP is a business. There are many people that depend upon PP functioning. The fire is finding a way to pay the upcoming tax bill - they are throwing all possible answers to this problem on the table.

easy. use tidal to sell the new, mostly finished black is the new black. charge fifty bucks for the album hard copy, 25 for download.

.

make it clear that this is when fans need to LEGALLY BUY THE ALBUM. they will. many of us will buy ten copies.

.

tax bill is paid, just like that.

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Reply #41 posted 06/10/16 8:31am

FlyOnTheWall

XxAxX said:

FlyOnTheWall said:

EXACTLY!!!! Where is the fire???? They are already talking about selling off some of the contents of the vault to pay the tax bill!!!!!!!!!! I tell you, SOMETHING IN THE WATER DOES NOT COMPUTE.

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.

I've never heard tell of Prince having delinquent taxes. I'm referring to ESTATE TAXES, which could have been avoided with an estate plan, with a private charitable trust. Instead, because there is supposedly no will, his estate now has to pay almost 60 percent of the valuation of his assets...and unless he has over $100 in liquid assets lying around, they are going to start selling off stuff. ALREADY.

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Reply #42 posted 06/10/16 8:36am

XxAxX

avatar

FlyOnTheWall said:

XxAxX said:

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.

I've never heard tell of Prince having delinquent taxes. I'm referring to ESTATE TAXES, which could have been avoided with an estate plan, with a private charitable trust. Instead, because there is supposedly no will, his estate now has to pay almost 60 percent of the valuation of his assets...and unless he has over $100 in liquid assets lying around, they are going to start selling off stuff. ALREADY.

.

oh! sorry. i didn't know if, or what, taxes might be relevant. my above remakrs were sheer speculation.

.

so, estate taxes are due immediately huh? eek i admit i am not qualified to give legal advice nor am i doing so, but that still seems odd to me, this unseemly haste with which all of these demands are being made on an estate that still has yet to be quantified with any specificity.

.

again, i'm not an expert on probate matters, but why on earth haven't the estate administrators applied for an emergency extension and/or tax relief?

.

surely, the court would HAVE to be sympathetic on the highlgy public and unresolved matters surrounding prince's passing. the easily supportable argument would be the public good, and specific benefit to all beneficiaries who can't be expected to sell things off without proper valuation. right?????

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Reply #43 posted 06/10/16 8:39am

mailaccount63

XxAxX said:

mailaccount63 said:


This estate is not moving abnormally fast at all. There are many items in PP to safeguard. PP is a business. There are many people that depend upon PP functioning. The fire is finding a way to pay the upcoming tax bill - they are throwing all possible answers to this problem on the table.

easy. use tidal to sell the new, mostly finished black is the new black. charge fifty bucks for the album hard copy, 25 for download.

.

make it clear that this is when fans need to LEGALLY BUY THE ALBUM. they will. many of us will buy ten copies.

.

tax bill is paid, just like that.


OK, then. Let's get this underway......

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #44 posted 06/10/16 8:44am

FlyOnTheWall

XxAxX said:

FlyOnTheWall said:

I've never heard tell of Prince having delinquent taxes. I'm referring to ESTATE TAXES, which could have been avoided with an estate plan, with a private charitable trust. Instead, because there is supposedly no will, his estate now has to pay almost 60 percent of the valuation of his assets...and unless he has over $100 in liquid assets lying around, they are going to start selling off stuff. ALREADY.

.

oh! sorry. i didn't know if, or what, taxes might be relevant. my above remakrs were sheer speculation.

.

so, estate taxes are due immediately huh? eek i admit i am not qualified to give legal advice nor am i doing so, but that still seems odd to me, this unseemly haste with which all of these demands are being made on an estate that still has yet to be quantified with any specificity.

.

again, i'm not an expert on probate matters, but why on earth haven't the estate administrators applied for an emergency extension and/or tax relief?

.

surely, the court would HAVE to be sympathetic on the highlgy public and unresolved matters surrounding prince's passing. the easily supportable argument would be the public good, and specific benefit to all beneficiaries who can't be expected to sell things off without proper valuation. right?????

The estate taxes are due in January.

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Reply #45 posted 06/10/16 8:59am

XxAxX

avatar

FlyOnTheWall said:

XxAxX said:

.

oh! sorry. i didn't know if, or what, taxes might be relevant. my above remakrs were sheer speculation.

.

so, estate taxes are due immediately huh? eek i admit i am not qualified to give legal advice nor am i doing so, but that still seems odd to me, this unseemly haste with which all of these demands are being made on an estate that still has yet to be quantified with any specificity.

.

again, i'm not an expert on probate matters, but why on earth haven't the estate administrators applied for an emergency extension and/or tax relief?

.

surely, the court would HAVE to be sympathetic on the highlgy public and unresolved matters surrounding prince's passing. the easily supportable argument would be the public good, and specific benefit to all beneficiaries who can't be expected to sell things off without proper valuation. right?????

The estate taxes are due in January.

.

hmmm. it all depends right? january is far enough out to release prince's alleged last project "Black is the New Black" online and offline for sale to a global market, eager for such a *new* prince release, following his passing.

.

moreover, if fans knew that sales proceeds would be partly dedicated to help preserve prince's legacy from a tax fire sale, i betcha fans would cough up the $$

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Reply #46 posted 06/10/16 9:05am

mailaccount63

XxAxX said:

FlyOnTheWall said:

The estate taxes are due in January.

.

hmmm. it all depends right? january is far enough out to release prince's alleged last project "Black is the New Black" online and offline for sale to a global market, eager for such a *new* prince release, following his passing.

.

moreover, if fans knew that sales proceeds would be partly dedicated to help preserve prince's legacy from a tax fire sale, i betcha fans would cough up the $$ <<<You got that right.


=/

RIP Prince. We will NEVER forget you. Thank you so much.

"Dearly Beloved:
We are gathered here today 2 get through this thing called: 'Life'."
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Reply #47 posted 06/10/16 9:17am

FlyOnTheWall

XxAxX said:

FlyOnTheWall said:

The estate taxes are due in January.

.

hmmm. it all depends right? january is far enough out to release prince's alleged last project "Black is the New Black" online and offline for sale to a global market, eager for such a *new* prince release, following his passing.

.

moreover, if fans knew that sales proceeds would be partly dedicated to help preserve prince's legacy from a tax fire sale, i betcha fans would cough up the $$

I agree.

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Reply #48 posted 06/10/16 9:18am

FlyOnTheWall

XxAxX said:

FlyOnTheWall said:

EXACTLY!!!! Where is the fire???? They are already talking about selling off some of the contents of the vault to pay the tax bill!!!!!!!!!! I tell you, SOMETHING IN THE WATER DOES NOT COMPUTE.

on the other hand, if paisley park enterprises currently owes outstanding taxes, Uncle Sam will get what he wants. the IRS makes no bones about seizing property in lieu of payment on alleged tax debt.

.

okay, day late and dollar short here but i'm starting to feel a bit intrusive into prince's private life. we're doing way too much speculation and if we continue in the logical direction from here, our next questions will lead us into an inquiry about who would be involved in 'suppressing' prince's estate plan and etc. which potentially becomes libel and questionably okay to discuss here.

.

i'll admit though, i'm still desperately trying to make sense of all this.

Without calling any names or speculating, I say, FOLLOW THE MONEY, AND LET THE CHIPS FALL WHERE THEY MAY.

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Reply #49 posted 06/10/16 9:29am

BabyBlueBentle
y

Se7en said:

This might all be part of Prince's plan for all we know. No wife, no kids, no parents. If he himself wasn't going to be here to enjoy his fortune, maybe he just didn't care what happened after he died? I'm being serious too.

1000% with you on this. With everything we know about him, it is nowhere near the realm of impossibility that his feeling was 'once I'm gone, that's it.' He was too intelligent and too anal to not understand the enormity of what would happen to his estate without legally binding instructions; to leave here without any screams he didn't care about it after he left..

Singing 'I Wanna Be Your Lover' in elementary school was too much fun!
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Reply #50 posted 06/10/16 9:31am

BabyBlueBentle
y

XxAxX said:

BartVanHemelen said:

.

Prince has a loooong history of stupid decisions.

.

no, he does not. his life was a huge success insofar as he accomplished what he set out to accomplish. yours is not a true statement.

.

here's a true statement: you have no standing to make a comment like that.

.

you know nothing about whether or not prince left a will/trust/estate plan. this thread is pure speculation yet here you are, tirelessly flogging the downside.

Truth.

Singing 'I Wanna Be Your Lover' in elementary school was too much fun!
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Reply #51 posted 06/10/16 9:33am

rightbluecheek

avatar

mailaccount63 said:

suomynona said:

OH YAY! YET ANOTHER THREAD ABOUT THE ESTATE!!! WOO HOO!!! THANK YOU!!!!!



I have requested the mods make a sticky: "The Estate". PLEASE!

yeahthat
"No one plays the clarinet the way U play my heart"
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Reply #52 posted 06/10/16 9:35am

jaimestarr79

The huge tax bill is a silver lining! This will make sure all of the music will be released! for who ever inherits the estate. There is plenty of money to go around. How much money do they need? Everyone will be just fine...no need to worry. The family will make money and his legacy will live on through his music.

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Reply #53 posted 06/10/16 9:49am

FlyOnTheWall

jaimestarr79 said:

The huge tax bill is a silver lining! This will make sure all of the music will be released! for who ever inherits the estate. There is plenty of money to go around. How much money do they need? Everyone will be just fine...no need to worry. The family will make money and his legacy will live on through his music.

But the smaller the pot, the less the likelihood that his heirs will set aside the money needed to preserve Paisley Park.

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Reply #54 posted 06/10/16 10:08am

jaimestarr79

FlyOnTheWall said:

jaimestarr79 said:

The huge tax bill is a silver lining! This will make sure all of the music will be released! for who ever inherits the estate. There is plenty of money to go around. How much money do they need? Everyone will be just fine...no need to worry. The family will make money and his legacy will live on through his music.

But the smaller the pot, the less the likelihood that his heirs will set aside the money needed to preserve Paisley Park.

i think the city or state would buy it. It would be a huge tourist attraction and big money maker. No doubt it will be preserved.

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Reply #55 posted 06/10/16 10:19am

PurpleDiamonds
1

Why have Tidal be the ones to release/finish anything?
Have they given anything back to Princes estate? I am not aware of Tidal giving anything back and judging by the lack of sentiment from Jay Z after Princes death is enough for me to boycott Tidal. They have everything to gain...for themselves
Does not seem right unless I have missed something here.
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Reply #56 posted 06/10/16 10:49am

FlyOnTheWall

jaimestarr79 said:

FlyOnTheWall said:

But the smaller the pot, the less the likelihood that his heirs will set aside the money needed to preserve Paisley Park.

i think the city or state would buy it. It would be a huge tourist attraction and big money maker. No doubt it will be preserved.

That would be better than nothing, but it's not the same as the self-sustaining, privately controlled institution built by Prince.

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Reply #57 posted 06/10/16 11:15am

PurpleDiamonds
1

FlyOnTheWall said:



jaimestarr79 said:




FlyOnTheWall said:



But the smaller the pot, the less the likelihood that his heirs will set aside the money needed to preserve Paisley Park.





i think the city or state would buy it. It would be a huge tourist attraction and big money maker. No doubt it will be preserved.



That would be better than nothing, but it's not the same as the self-sustaining, privately controlled institution built by Prince.


May not be a bad idea ^^^
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Reply #58 posted 06/10/16 11:24am

Marrk

avatar

BabyBlueBentley said:

Se7en said:

This might all be part of Prince's plan for all we know. No wife, no kids, no parents. If he himself wasn't going to be here to enjoy his fortune, maybe he just didn't care what happened after he died? I'm being serious too.

1000% with you on this. With everything we know about him, it is nowhere near the realm of impossibility that his feeling was 'once I'm gone, that's it.' He was too intelligent and too anal to not understand the enormity of what would happen to his estate without legally binding instructions; to leave here without any screams he didn't care about it after he left..

Some people just have the view that you can't take it with you. Maybe Prince was one of those people. Nothing surprises me anymore.

Yeah, we'll, we'll try to imagine what silence looks like.
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Reply #59 posted 06/10/16 12:57pm

FlyOnTheWall

jaimestarr79 said:

The huge tax bill is a silver lining! This will make sure all of the music will be released! for who ever inherits the estate. There is plenty of money to go around. How much money do they need? Everyone will be just fine...no need to worry. The family will make money and his legacy will live on through his music.

Read this article and see if you still think the tax bill is a silver lining.

Judge Orders Prince Estat...w Imminent

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