Prince had "chronic money problems" for years before his death, it has been claimed.
The ‘Purple Rain’ singer – who was found dead at his Paisley Park estate last Thursday (21.04.16) – is said to have frequently spent more than he earned, while various decisions he made meant he brought in less cash than he could have done.
Sources told TMZ Prince refused to sell his main asset, his music catalogue, and "consistently shut down" opportunities to fuel his finances, such as licensing his music to be used in movies, TV shows and commercials.
And while most of the ‘U Got The Look’ hitmaker’s money came from his live performances, his frequent impulsive shows were poorly planned and involved little promotion, meaning that while some were successful, a lot were staged at a loss.
And it seems Prince’s remaining cash and other assets will be divided among his sister Tyka Nelson and five half-siblings as he didn’t make a will.
Multiple sources told the website the iconic singer definitely didn’t have one up until 2014, and while various professionals had raised the issue of drafting a document to specify who inherited what when he died, Prince was never interested in drafting one.
It had been thought only Tyka would inherit his assets, but under Minnesota law, half-siblings are treated the same, meaning they would all get an equal share.
And it could be shared by more than just six as Prince had two other half-siblings who passed away – and if they had any children, they would also be entitled to an equal share of the estimated $150 million.
Prince had cash problems
