A judge confirms Prince had no will and appoints his bank to oversee $250 million estate
The magazine obtained court documents about a hearing held Wednesday, in which the judge approved Bremer Bank to handle Prince's estate, worth approximately $250 million.
The documents say that Bremer Trust has been tasked to "preserve the estate and to secure its proper administration until a general Personal Representative is appointed by the Registrar or by the Court," according to People.
Prince's sister Tyka Nelson, 55, had previously asked for Bremer, the institution Prince trusted with his finances for years, to oversee his estate following his passing.
Because Prince did not have a will laying out how his assets and expenses should be handled, Prince's estate could have a potentially "messy" future, as one lawyer told Business Insider.