Speculation has begun about who will inherit Prince’s fortune. Prince, the legendary musician, is estimated to have a net worth of $300 million. It is also estimated that net worth will grow as additional music is released and his popularity grows.
Who will get his estate? We may never know. At least when it came to the business of music, Prince was very savvy. If that knowledge carried over to his estate plan, it is likely Prince had a trust. If Prince had a trust, that trust should insure his privacy. If Prince has a Last Will and Testament, it will need to be filed with the court and the public will be able to see what his assets are and who will receive the assets. In Minnesota, there is no deadline for filing the will. It could be quite some time before the public would know if there is a will. If Prince didn’t have a will or trust, a probate administration will be open. Prince’s parents died before he did and he has no spouse. In such a case, siblings inherit pursuant to state law in Minnesota.
Be extremely caution, in Missouri you have one year to file a will and in Kansas, you have six months to file a will. If you don’t file the will, it is meaningless.
Unless Prince left a great deal to charity, his estate is likely to owe taxes. Federal estate taxes kick in at 5.45 million.

The Kansas Court of Appeals recently addressed whether a secondary injury should be compensated under Workers’ Compensation.
The injured worker had tripped at work and severely fractured her ankle. Even after a year of physical therapy, the worker was left with a limp. The worker complained of hip and back pain as a result of the limp.
The issue before the court was whether the “secondary-injury” rule survived certain 2011 amendments to the workers’ compensation laws.
The court found that the secondary injury rule was still valid.
In the case before the court, the prevailing evidence proved that the hip and back injuries were a result of the limp, which was the result of her ankle fracture.
Good news for the worker, she received additional compensation.

I’m honored to have been selected Best of the Bar by the Kansas City Business Journal.