Prince may have made this estate mistake that most wealthy people don’t

April 26, 2016 4:46 PM

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Prince may have made this estate mistake that most wealthy people don’t

On Tuesday, Prince’s sister, Tyka Nelson, filed paperwork in court saying that Prince, who died on Thursday at age 57, did not leave a will. Many expressed surprise that the pop icon didn’t have one — and they likely should: Only a minority of affluent people in his age group don’t have a will.

Fewer than one in four people ages 55 to 64 do not have a will, and fewer than half with incomes over $100,000 don’t have one, according to a survey by legal resource site FindLaw.com. In other words, 57-year-old Prince, who owned property worth about $27 million, was in the minority if it turns out...

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