Losing a loved one is not an easy experience. Even years after a person’s death, complications with the estate can continue to cause turmoil for surviving family. In some cases, probate litigation may continue for an extended period of time if loved ones believe that those involved in handling the estate are not doing so properly.
Texas readers may be interested in the continued issues revolving around late musician Prince’s estate. The musical artist died in 2016, and his family — his half-sister Sharon Nelson in particular –is speaking out against Comerica Bank and Trust, which is administering the remaining estate. Nelson claims that the estate will go into bankruptcy before this year ends because of mismanagement by the bank.
She also claims that she and other heirs have not received any of the assets to which they are entitled. As a result, she is living off of her Social Security funds and has reportedly had to support other relatives who are suffering financially. It was also reported that the family has accrued approximately $3 million in legal fees as the court battle has drawn on. The complications first began soon after Prince’s death due to his lack of will and overall estate plan.
Attempting to settle a loved one’s affairs, especially when substantial wealth is involved, can be a complex matter. In some cases, Texas families may also need to consider taking legal action if they believe that the administrators or executors of the estates are not acting appropriately. Discussing probate litigation and other options with experienced legal professionals is wise.