A Minnesota judge has placed bank bosses in charge of Prince's estate after determining the superstar died without a will.
The Purple Rain icon's sister, Tyka Nelson, filed papers on Tuesday (26Apr16) to open a probate case following her brother's death on 21 April (16), confirming reports suggesting he passed without outlining his final wishes.
She asked a state judge to appoint her as a "special administrator", and insisted she would be an heir to her brother's fortune, while their five half-siblings were potential beneficiaries too.
Tyka requested executives at the Bremer Trust, National Association, serve as the official administrators of Prince's estate, revealing bankers had provided financial services to Prince for years.
The case went before a judge on Wednesday morning (27Apr16), when the court official ruled Prince did not leave a will, and therefore his fortune will be split evenly between his heirs, as per state law.
The judge also approved Tyka's request to place Bremer Trust chiefs in charge of managing the musician's assets, which have reportedly been valued at less than $150 million (£104 million), according to TMZ.com.
However, they will only serve as estate administrators for up to six months, until a personal representative can be appointed to take over the responsibility.
The hearing, which was also attended by Prince's half-brother Omarr Baker, took place hours after the star's longtime lawyer, L. Londell MCMillan, expressed concern that no will had been found.
Taking to Twitter on Tuesday night (26Apr16), he wrote, "My Opinion: #Prince absolutely should have had a Will (period)".
MCMillan then went on to admit he was saddened Prince hadn't called on his services regarding financial matters.
"#Truth: I wish I was involved in my friend #Prince business affairs towards the end like I was a decade prior," he lamented. "Life can be so fragile!"
Prince died at his Paisley Park studios in Chanhassen, Minnesota on 21 April (16). An autopsy performed on Friday (22Apr16) failed to throw up an immediate cause of death, although reports suggest the superstar may have been battling an issue with painkillers he was taking for an ongoing hip injury in the days before his passing.
His remains were cremated on Saturday (23Apr16), shortly before the 57-year-old was remembered in a private service at Paisley Park, attended by his family and close friends, including ex-fiancee Sheila E, bass player Larry Graham, and his ex-wife Mayte Garcia.