--- title: Prince's Estate Might Be Worth Much Less Than We Think description: Half of the $300 million sum will go to taxes. If there isn't sufficient cash to foot that bill, physical assets may have to be sold. canonical: https://time.com/4360813/prince-estate-taxes-death/ author: Nash Jenkins article:opinion: false article:content_tier: free article:published_time: 2016-06-08T08:44:32.000Z article:modified_time: 2026-08-04T08:04:28.697Z article:section: Entertainment og:title: Prince's Estate Might Be Worth Far Less Than We Think og:description: About half of his $300 million estate could go in taxes og:url: https://time.com/4360813/prince-estate-taxes-death/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt3c85645c467dd2c6/698896e1f887dcbbc3e962de/gettyimages-523214052.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Minneapolis Area Mourns Death Of Native Son Prince og:type: article twitter:card: summary_large_image twitter:title: Prince's Estate Might Be Worth Far Less Than We Think twitter:description: About half of his $300 million estate could go in taxes twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt3c85645c467dd2c6/698896e1f887dcbbc3e962de/gettyimages-523214052.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  # Prince's Estate Might Be Worth Drastically Less Than We Think > Sponsored content. 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Terms and conditions apply. * Savings buckets are a feature of Ally Bank's Savings Account. * No ATM fees from Ally Bank at Allpoint and Moneypass ATMs plus we reimburse for fees charged by other ATM owners nationwide up to $10 per statement cycle. * Early direct deposit offers eligible direct deposits up to two days sooner. * Spending buckets are a feature of Ally Bank's Spending Account. ## Video: In Memoriam: Prince [Watch (HLS stream): In Memoriam: Prince](https://cdn.jwplayer.com/manifests/2ANK52Nx.m3u8) (0:33)  _Published 2016-04-21. Prince, one of the best-selling recording artists in music history, has died. He was 57, and his publicist confirmed his death. Widely considered one of the most influential musicians in history, his career spanned four decades_ by [Nash Jenkins](https://time.com/author/p-nash-jenkins/) ## Nash Jenkins Jun 8, 2016 8:44 AM UTC  Photos of Prince are attached to the wall outside of the First Avenue nightclub where fans have created a memorial to the artist on April 22, 2016 in Minneapolis, Minnesota. Photos of Prince are attached to the wall outside of the First Avenue nightclub where fans have created a memorial to the artist on April 22, 2016 in Minneapolis, Minnesota.Scott Olson—Getty Images by [Nash Jenkins](https://time.com/author/p-nash-jenkins/) ## Nash Jenkins Jun 8, 2016 8:44 AM UTC It’s well-documented at this point that Prince apparently died without [leaving a will.](http://time.com/money/4308204/prince-dies-without-will/) His estate is worth roughly $300 million, by some estimates, and so it’s understandable that the artist’s relatives are anxious to settle the division of assets — but it also seems that, that thanks to taxes, the actual value of those assets might be drastically diminished. NBC News [reports](http://www.nbcnews.com/news/us-news/little-red-corvette-repossessed-tax-bill-could-slash-millions-prince-n587716) that half of the $300 million sum will go to taxes. If there isn’t sufficient cash to foot that bill, those handling his estate might have to pawn off his physical assets: the thousands of unreleased songs in his vault; his guitars; rights to his image and music; perhaps his famous home cum recording studio Paisley Park in Minnesota. This risk should incentivize the parties at hand to resolve the estate debate swiftly, financial actors said. “If we do not, the government will not wait,” Douglas Peterson, a lawyer who represents the wealth management firm handling Prince’s estate, told the judge presiding over the case, according to NBC. “They will have a fire sale, and that is not in the best interests of anyone.” The heirs could be determined by the end of this month, when a probate hearing is scheduled. \[[NBC News](http://www.nbcnews.com/news/us-news/little-red-corvette-repossessed-tax-bill-could-slash-millions-prince-n587716)\] ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4360813/prince-estate-taxes-death/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4360813/prince-estate-taxes-death/"},"headline":"Prince's Estate Might Be Worth Drastically Less Than We Think","datePublished":"2016-06-08T08:44:32.000Z","dateModified":"2026-08-04T08:04:28.697Z","description":"And they might have to sell off his guitars, music, and other assets if there isn't enough cash to meet tax obligations","url":"https://time.com/4360813/prince-estate-taxes-death/","keywords":["Music","Prince"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt3c85645c467dd2c6/698896e1f887dcbbc3e962de/gettyimages-523214052.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Nash Jenkins","jobTitle":null,"url":"https://time.com/author/p-nash-jenkins/"}],"articleSection":"Entertainment","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt3c85645c467dd2c6/698896e1f887dcbbc3e962de/gettyimages-523214052.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Minneapolis Area Mourns Death Of Native Son Prince","caption":"Minneapolis Area Mourns Death Of Native Son Prince","creditText":"Scott Olson—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/entertainment/","name":"Entertainment"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/4360813/prince-estate-taxes-death/","name":"Prince's Estate Might Be Worth Drastically Less Than We Think"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"In Memoriam: Prince","description":"Prince, one of the best-selling recording artists in music history, has died. 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