The estate for singer Prince is firing back at the late singer’s family members claiming they haven’t been paid since his death.
According to court documents obtained by The Blast, Comerica Bank, who is the personal representative of Prince’s estate, is responding to his heirs pleading for money.
Comerica Bank is asking the court to deny Prince’s heirs’ petition for compensation, where they claim to have not seen a penny from the estate since the singer’s death.
In the response, Comerica says if they were forced to pay out money to the heirs, they would have to sell off an asset of the estate. They point out an issue with the IRS they have to deal with before paying out money.
Comerica says the heirs have been fully aware of the issues with the IRS, which include the Internal Revenue Service believing the estate is being undervalued on paper.
The estate says, “And while the Personal Representative is sympathetic to the financial situation of the Nelsons, the Nelsons have refused to take advantage of opportunities to participate in consulting opportunities arranged for them by the Personal Representative in connection with Paisley Park and entertainment transactions.
Comerica is asking the court to shut down Prince’s heirs and allow them to deal with the estate issues.
As The Blast first reported, Prince’s siblings, Sharon, Norrine and John Nelson, recently filed a petition for compensations in the estate.
Prince’s heirs claim they have not been paid a dime from the estate despite lawyers and advisors being paid out millions. Prince left his estate behind to be distributed by his six siblings.
In the petition, the three family members accuse Comerica Bank of mismanaging the estate and leaving them out of important matters. Comerica has previously denied the accusations and claimed to be doing their best with the family members.
Sharon, Norrine and John are requesting the court to approve “payment for services and efforts provided to the Estate.” They claim to have provided the estate countless hours of help on matters without being paid.
They claim they being living “solely on their pension, social security, personal savings and loans from friends to cover the costs needed to support the Prince Estate despite the millions paid to advisors, attorneys and others approved by the Court.”
The three point out they have years of corporate experience and could be paid to work on estate matters. They are pleading for the court to force Comerica to work with them.
A judge has yet to rule.
As The Blast first reported, Prince’s siblings have been facing financial issues ever since his death in 2016. They owe various lawyers over a million in unpaid legal fees. Prince’s sister Tyka Nelson sold off a large percentage of her interest in the estate following financial woes.