Wednesday, 27 April 2016

Cops Interview Family Attorney, As Sister Files Legal Documents, No Evidence of Will, With Claims Prince Was Cash-Strapped During Life

Police in the Prince death investigation have interviewed a lawyer who repped 2 of the singer's siblings who claimed Prince abused Percocet and cocaine and they feared he'd "die young." 
Mike Padden is an attorney who repped Prince's half sister Lorna and stepbrother Duane in the early 2000s. Padden tells TMZ both Lorna and Duane separately told him Prince regularly abused the drugs. BTW, Duane was very close to Prince and even worked as his bodyguard.  
We're told the lawyer contacted the cops and they called him back over the weekend for an interview and he relayed the information about the drugs.
Duane died in 2011 and Lorna passed in 2006, so Padden's information is not up to date. Another very close family member -- who was in touch with Prince 'til the end -- also tells TMZ Prince had used those drugs for many years.

There's another point of view ... we've spoken with several people who were around Prince in the last few years of his life who say they saw no evidence of drug use ... saying Prince was a "health nut."
As we reported, Prince OD'd on Percocet 6 days before he died.
The investigation into his death is ongoing.
Prince's sister Tyka has filed legal docs to open a probate case ... and she says as far as she can tell he left no will.
TMZ has obtained probate documents filed in Minnesota, in which Tyka asks the judge to appoint a "special administrator." Under Minnesota law, a special administrator is someone who is appointed when there is no executor named in a will.  
Tyka says in her docs, "I do not know of the existence of a will and have no reason to believe that the decedent executed testamentary documents in any form." 
If Prince did indeed die without a will, the estate is divided equally among his siblings.  
Tyka lists the people who are potential beneficiaries ... all of whom are half brothers and sisters. They are John, Norrine, Sharon, Alfred and Omarr. They are all living siblings of Prince. She also says she's an heir entitled to her cut.  
It's interesting ... Tyka names Lorna as a deceased half sister who left no kids. Under Minnesota law Lorna's out of the game when it comes to getting assets. But Tyka never even mentions Duane, reportedly Prince's half brother, who is also deceased.
There's also a line in the docs in which Tyka says, "The decedent has heirs whose identities and addresses need to be determined."
Tyka then names Bremer Trust, National Association, which she wants to serve as the official administrator of Prince's estate. Tyka says she wants Bremer Bank because they have provided financial services to Prince for years, and they are well versed in his affairs and best suited to protect his assets.
It appears Prince died without leaving a will ... as a result his 6 siblings -- even the half brothers and sisters -- could split a fortune.
Multiple sources who have worked with Prince as recently as 2014 tell us ... he did not have a will. Of course it's possible in the last year or so Prince had a change of heart and drafted one, but all of our sources say based on his history with them that's highly unlikely.
Our sources say various professionals raised the issue of a will with Prince but he never had an interest in drafting one.
We've contacted various people, including family members, and they all say they have not seen a will and so far no one has come forward with one.
If Prince did indeed die without a will, under Minnesota law his siblings -- the closest living relatives -- would share equally in his estate. Prince had 8 brothers and sisters, and only Tyka was a full sibling.  
People have assumed Tyka -- who has taken the reins -- would get everything, but that's not the case. In Minnesota half siblings and full siblings are treated exactly the same when it comes to inheritance without a will ... they all share equally.
Two of Prince's siblings are dead, leaving 6. There's one catch. If the deceased siblings had kids, they would be entitled to the same share as their parent.
As we reported ... our sources say Prince's estate is worth somewhere south of $150 million.
Prince had chronic money problems for years preceding his death ... this according to multiple sources who advised the singer.
Our sources -- all of whom had regular contact with Prince and were intimately familiar with his finances -- tell us, the singer refused to leverage or sell his main asset -- his vast music catalog.
The most common way singers like Prince make a steady flow of income is to sell or license their art. We're told Prince consistently shut down business opportunities that could have fueled his finances. Prince had numerous opportunities to use his music in movies, TV shows and commercials, but with few exceptions, he turned thumbs down.
The primary way Prince made money was concerts, but our sources say the singer was so impulsive he would do shows on the spur of the moment with poor planning and little promotion. Although many were successful, enough of them weren't ... causing him to lose a fortune.
The biggest problem ... Prince spent way more than he made, and our sources say money was always an issue. As we reported, the estimated net worth of $300 million was grossly inflated. We're told it's less than half that. It's still a lot of money, but it could've been so much more if he'd cashed in on his greatest asset ... that catalog.
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