Following the tragic news of the death of Prince, Susan Link was interviewed by Minnesota Public Radio on April 24, 2016, for an article examining the legendary musician's estate. Titled "Prince's wealth likely to remain a mystery in death," the article shares that while Prince "crafted a flamboyant persona through his music," the mystery and privacy he exhibited off stage extended to his business activities, making his true worth difficult to figure out.
Susan shared that it's very unlikely that something filed will disclose the value of [Prince's] estate, adding, "There are many ways Prince's wealth could be discretely distributed. To keep things private, you'd make sure that it's titled in trust or things like life insurance. If you name a beneficiary on it, it goes to the beneficiary and nobody ever knows who that is."
The article notes two exceptions: 1) If Prince wanted certain charitable donations made public; and 2) if anyone contests the distribution of assets, it could make a trust and related agreements part of the public court during the legal fight.
To read the full article, go to: MPR—Prince's Wealth Likely to Remain Mystery.
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.