Pop star Prince died recently, leaving behind an estimated $300 million estate. His financial advisers say they are looking for a will. Prince’s sister, Tyka Nelson, says there was no will. If you die without a valid will (“intestate”) then state law applies. If a family member contests the will, or if siblings can not agree about how to divide a parent’s assets, then a judge may have to intervene to settle matters. That means acrimony, delay and expense. Prince’s estate will continue to receive income for decades after his death.
