Susan Link, head of Maslon's Estate Planning Group, was interviewed on a CBS This Morning News segment titled, "How will Prince's estimated $300M fortune be divided?" The segment reports on a second hearing scheduled the morning of June 27 that will "determine who qualifies as heirs to the late singer's estate." In addition to Prince's six siblings, the segment notes "more than 20 other people have come forward claiming to be an heir to the late musician." Susan states, "Any of those people have had to submit... affidavits to the bank and the bank is making a determination of who they're now asking to receive DNA tests."
As well as determining how those DNA tests will be conducted, Monday morning's hearing will discuss paying Prince's estate tax. "If Prince actually had a $300 million estate, you're looking at having to come up with $150 million in 9 months," Susan states.
Susan Link practices in the areas of estate planning, probate, and trust administration. She works closely with families to plan the disposition of their assets, both during lifetime and at death, and to accomplish the optimal estate and gift tax planning for clients through wills, trusts, and other instruments. Additionally, Susan serves as the program director of Minnesota Wills for Heroes. The Wills for Heroes program, sponsored by the Minnesota State Bar Association, is designed to provide free legal services for the preparation of basic estate planning documents for Minnesota first responders. She is also a member of the American College of Trust and Estate Counsel and has taught as an adjunct professor at the University of St. Thomas School of Law.
To watch the segment, go to: CBS News—"How will Prince's estimated $300M fortune be divided?"