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Prince's Half-Sister Fears Estate Will Go Bankrupt Over Mishandling Of Finances

"Prince is not resting in peace while this is going on."

Prince's half-sister, Sharon Nelson, has accused Comerica Bank & Trust, the administration that is handling Prince's estate, of mishandling the late artist's finances, Billboard reports. Her family's fight against Comerica has now resulted in thousands of court filings and millions of dollars in legal fees. She predicts that if the company is not stopped, Prince's estate will soon go bankrupt.

"Prince’s estate will be bankrupt by the end of the year," Nelson predicted. "Prince is not resting in peace while this is going on. He's very upset what these people have done to his estate. It's really sad."

After Prince's death in 2016, Nelson and her siblings – the singer's full sister Tyka Nelson, his half brothers Omarr Baker, Alfred Jackson, John R. Nelson and his half-sisters Sharon and Norrine Nelson – became sole heirs of the estate that is said to be valued between $100 million and $300 million. The family was forced to hire their own attorneys to defend their interests after 45 people claimed to be heirs of the "Purple Rain" singer's estate.

Due to nearly $3 million in legal fees, Nelson said her siblings are not able to afford a new attorney. Although she is able to get by because she is a "senior citizen and I have worked all my life," she said her other family members are barely scraping by.

The family was each awarded $100,000 following Prince's 2016 tribute concert, but Nelson said they have not received any more money from Comerica although the bank continued to receive $125,000 a month for administering the estate.

Additionally, Nelson told Billboard that Comerica continued to make poor financial moves such as paying $90,000 a month to store Prince's unreleased music in a vault in Los Angeles.

There are reportedly more than 2,700 court filings regarding this matter. The court documents include motion, affidavits, memos, and depositions that support Nelson and her family's complaint about Comerica's representation.

In Oct. 2017, Nelson and two of the others heirs filed to permanently remove Comerica from the estate after an allegedly heated meeting. They accused the bank of being verbally abusive and threatening Nelson.  In Dec. 2017, a judge denied their petition to remove Comerica, ruling that it would not be in the best interest of the estate.

Comerica has denied the allegations against them. Bank officials explained in the court filings that the heirs could not receive a dime until a tax bill from the Internal Revenue Service (IRS) was settled. Nelson said she found that reasoning odd since Prince died with $97 million in cash and $30 million to $40 million in real estate holdings.

Comerica released a statement to Billboard regarding Nelson's claims. "The estate of Prince Rogers Nelson is a court-supervised estate, which places strict reporting and judicial oversight requirements on Comerica as the Personal Representative," the statement read. "Comerica has complied with all legal and ethical requirements during its administration of the estate. Comerica’s fees and those of the estate’s attorneys are filed with and approved by the Court every four months with complete transparency to the heirs. The attorneys’ fees paid by the estate have been court-approved as reasonable and necessary for the benefit of the estate."

Prince's siblings are currently asking a judge to permanently limit the Comerica's powers as the estate’s personal representative. A hearing is scheduled for May 20.

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Megan Thee Stallion Earns First No. 1 With “Savage” Remix Ft. Beyonce

Megan Thee Stallion is the second female rapper to come in at No. 1 on the Billboard Hot 100 in the last month. The Houston rapper’s “Savage” remix  jumped from fifth place to the top spot this week marking Meg’s first run atop the single’s chart and Beyonce’s seventh No. 1 single overall.

To celebrate, Bey sent Megan a bouquet of flowers.

Beyoncé sent Megan flowers to congratulate her on their #1 with Savage Remix 🥺💕 pic.twitter.com/Q1bWwFm9LC

— Megan Daily (@HottieSource) May 26, 2020

The “Savage” remix gave Meg her first No. 1 on the Hot R&B/Hip Hop songs chart, and returned to the top spot on the Hot Rap Songs tally. The track also climbed four slots to top the Digital Song Sales chart. The single marks a special achievement for Beyonce who joins Mariah Carey as the only two artists to earn No. 1’s in the 2000s, the 2010, and 2020s.

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Chloe x Halle Deliver Beautiful Visuals In “Do It” Music Video

Chole x Halle are giving us a taste of what's to come from their upcoming sophomore album, Ungodly Hour, debuting on June 5. The dynamic duo serve up gorgeous visuals in the sweltering new music video for “Do It,” the album's lead single.

“So thankful for all the support on #DOIT it means everything us!!! Ya’ll like it? Keep watching, streaming x dancing,” the pair tweeted on Friday (May 15). “We’re sooo looking forward to sharing the album with you.”

sooooo thankful for all the support on #DOIT it means everything us!!! y’all like it? keep watching, streaming x dancing. we’re sooo looking forward to sharing the album with you. much much love 🖤🖤💍💍 https://t.co/vPaeglZ5uE pic.twitter.com/TfV8WV2lvl

— chloe x halle (@chloexhalle) May 15, 2020

In honor of “Do It,” Balmain will host an Instagram Live event on Sunday (May 17), featuring a 30-minute set from Chloe x Hall.

Watch the “Do It” music video below.

 

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Teyana Taylor Gives Sneak Peek Of “Bare Wit Me” Music Video

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The Michael Jackson-inspired teaser, released on Thursday (May 14), went viral almost immediately, wracking up more than 1 million views on Taylor's Instagram and millions of views across Twitter.

In the video clip, Taylor pays homage to the King of Pop’s “Smooth Criminal” (and possible nods to Janet's “Alright” music video) with a colorful spin. “No games this time around,” the Harlem native wrote on Instagram.

Last week, Taylor unveiled the cover art for The Album, featuring Grace Jones-esque imagery.

 

View this post on Instagram

 

“THE ALBUM”• June 2020 📸: @danielsannwald

A post shared by Jimmy Neutch- Shumpert (@teyanataylor) on May 7, 2020 at 9:52am PDT

Taylor's new project is a followup to her 2018 debut studio album, K.T.S.E. (Keep That Same Energy).  In an Instagram Live interview with Red Bull promoting her documentary, Assembly Required: Teyana Taylor’s House of Petunia, Taylor announced that The Album is officially done.

“Y’all gonna be so happy,” she said last month. “This album is definitely more of a vibe. I don’t really do fast songs like that. There are some head-boppers. It’s not super-fast. You can dance and you can cry and you can ride.”

The Album is scheduled to debut next month.

Check out the “Bare Wit Me” teaser below.

 

View this post on Instagram

 

A sneak 👀 peek of “BARE WIT ME” from #THEALBUM #JUNE2020 no games this time around. S/O to da squad! DIR: @aspiketeyjoint DP: @afilmdirector EXECUTIVE PRODUCED BY: @theauntiesinc PRODUCER: @busynocupcakin STORY PRODUCERS: @aspiketeyjoint @coco_gilbert ART DESIGN: @hannahcarlene WARDROBE BY 👇🏾 KEY STYLIST: @teyanataylor CUSTOM WARDROBE BY: @beeombi CUSTOM JACKETS BY: @beeombi ARTWORK ON JACKETS BY: @inkbydregilly GLAM BY 👇🏾 MAKE UP: @japanesefaces HAIR: @realangelinarose @snobmobb CHOREOGRAPHY BY 👇🏾 KEY CHOREOGRAPHER @teyanataylor ASSISTANT CHOREOGRAPHER: @empress_neekqua DANCERS 👇🏾 @daniellecarty (Blue Ranger) @maggyvandenheuvel (Purple Ranger) @empress_neekqua (Green Ranger) @coco_gilbert (Red Ranger) @teyanataylor (Yellow Ranger) EDITED BY 👇🏾 KEY EDITOR: Chris @chrismonsanto Assistant editors: @coco_gilbert @Aspiketeyjoint

A post shared by Jimmy Neutch- Shumpert (@teyanataylor) on May 14, 2020 at 10:26am PDT

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