Prince’s Sister Attacks Estate Bosses Over Frivolous Spending

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April 24, 2019 | 3:10pm EST

Prince’s sister Sharon Nelson has blasted the music icon’s estate bosses, insisting their mismanagement will bankrupt the family before the end of 2019.
She accuses Comerica Bank & Trust officials of failing to settle claims filed by potential heirs and racking up million of dollars in legal fees.”Before the end of the year, Prince’s estate will be bankrupt,” Nelson tells Billboard, three years after her brother’s death. “Prince is not resting in peace while this is going on. He’s very upset what these people have done to his estate. It’s really sad.”
Following her brother’s 2016 passing, 45 people came forward claiming they were legitimate heirs to his estate.
Prince’s siblings – Sharon, Tyka Nelson, Omarr Baker, Alfred Jackson, John R. Nelson, and Norrine Nelson – reportedly racked up more than $3 million in attorneys fees to defend their interests, and now they are broke.
“We cannot afford an attorney,” Sharon says. “You walk through the door and it’s $400. Now we write our own affidavits and petitions.”
Nelson claims Comerica bosses pay themselves $125,000 -a-month for administering the estate: “Prince ran his estate with less than five people,” she explains. “One day I went to a court hearing and there were 40 attorneys trying to figure out what Prince did.”
She goes on to allege that she and the other legitimate heirs haven’t received a penny from her late brother’s assets, and some are struggling financially.
“I am a senior citizen and I have worked all my life,” she tells Billboard. “I have a pension and Social Security where the others do not… They were used to calling Prince whenever they needed something.”
Sharon has also accused Comerica chiefs of squandering her late brother’s cash on needless expenses, such as bringing people from their Detroit, Michigan office to hearings in Minneapolis, Minnesota and paying $90,000 -a-month to store Prince’s unreleased songs in a vault in Los Angeles.
Meanwhile, the bank officials have made it clear that there can be no distribution to the heirs until a tax bill from the Internal Revenue Service is settled. Nelson and her siblings have asked lawmakers to limit the bank bosses’ powers as the estate’s personal representatives and a hearing has been set for 20 May.
“Everything that is a problem, we have to go to court,” she says. “I have had to fight them because you can’t trust them.
“(After Prince died) we paid all his bills and we had money left, but Comerica is spending it recklessly and frivolously on projects that they think are important. Prince wouldn’t have had anything to do with these projects.”