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8 Cybaris Intell. Prop. L. Rev. 1 (2016-2017)

handle is hein.journals/cybaris8 and id is 1 raw text is: Hylton: Probating Prince's Estate: Who Will End Up With the Singer's Subs CYBARIS®, AN INTELLECTUAL PROPERTY LAW REVIEW 1 PROBATING PRINCE'S ESTATE: WHO WILL END UP WITH THE SINGER'S SUBSTANTIAL INTELLECTUAL PROPERTY? BY J. GORDON HYLTON, PROFESSOR OF LAW, UNIVERSITY OF VIRGINIA I. INTRODUCTION. ...............1............................ II. THE VALUATION OF PRINCE'S ESTATE. ............ ............ 2 III. WHO WILL ADMINISTER PRINCE'S ESTATE? ................... 7 IV. WHO WILL INHERIT PRINCE'S ESTATE? ........ ............... 9 V. WHAT WLL HAPPEN IF A WLL IS FOUND? ................... 20 VI. UPDATE (JULY 26, 2016). ...................... 24 I. INTRODUCTION Within days after Prince's April 21, 2016 death, newspaper and television stories concerning problems involving the legendary performer's substantial estate began to appear. To begin with, it was widely reported that the value of the estate of the 57-year old resident of Chanhassen, Minnesota, could be worth as much as $300 million. Moreover, the singer, born Prince Rogers Nelson, was not known to have a will. 1 The supposed problems with the estate presented by the ' See generally Jon Pareles, Prince, an Artist Who Defied Genre, Is Dead at 57, N.Y. TIMES (Apr. 22, 2016), http://www.nytimes.com/2016/04/22/arts/music/prince- dead.html?_r=0; Ben Sisario, Prince Died Without a Will, According to Court Documents Filed by His Sister, N.Y. TIMES (Apr. 27, 2016), Published by Mitchell Hamline Open Access, 2016