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Forums > Prince: Music and More > The Estate Discussion - Part 16
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Reply #90 posted 09/12/18 6:53pm

Mumio

avatar

nelcp777 said:

PennyPurple said:

Sharon put something out yesterday about the video too. She isn't happy either.


Looking at the paperwork is KAJ Productions, Kirk Johnson? Looks like they paid KAJ $77,524.00


Also Iron Mountain got $109,866.29


Whew on the lawyers fees. Man they are just eating up the $$

KAJ productions I believe is Kirk Johnson. It was mentioned in the Come On Remix. Why is Troy's LLC getting so much money?



Definitely is. It comes up in a search as him being the President of the company and having been around for 23 yrs I believe.

Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #91 posted 09/12/18 7:02pm

PennyPurple

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They just can't break away from KJ can they? sad

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Reply #92 posted 09/12/18 7:06pm

Mumio

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PennyPurple said:

They just can't break away from KJ can they? sad



There are still too many pieces of the puzzle that are missing to put everything together....including this piece.

Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #93 posted 09/12/18 7:08pm

PennyPurple

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Mumio said:

PennyPurple said:

They just can't break away from KJ can they? sad



There are still too many pieces of the puzzle that are missing to put everything together....including this piece.

Yeah, I don't think we'll ever get it put together.

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Reply #94 posted 09/12/18 7:19pm

ISaidLifeIsJus
tAGame

avatar

PennyPurple said:

ISaidLifeIsJustAGame said:



Omarr posted a 6 page rant against Comerica on Instagram.

He is angry about the video Mary Dont You Weep, and other decisions being made by Comerica with no input from the family.

He is saying there are many new products coming out that the family is not in agreement with including a new website that is underwhelming.

Uh oh.




Do you have a link. I'm not on Instagram and I'd like to see what he said.

https://www.instagram.com...ily/?hl=en

The above link is to Omarr's Instagram.

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Reply #95 posted 09/12/18 7:43pm

PennyPurple

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ISaidLifeIsJustAGame said:

PennyPurple said:

Do you have a link. I'm not on Instagram and I'd like to see what he said.

https://www.instagram.com...ily/?hl=en

The above link is to Omarr's Instagram.

Thank you.

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Reply #96 posted 09/12/18 7:58pm

Mumio

avatar

PennyPurple said:

Mumio said:



There are still too many pieces of the puzzle that are missing to put everything together....including this piece.

Yeah, I don't think we'll ever get it put together.



In due time more will come out.

Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #97 posted 09/12/18 8:55pm

ISaidLifeIsJus
tAGame

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Why is Henson & Efron still getting paid attorney fees?
Werent they his divorce attorneys?

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Reply #98 posted 09/12/18 9:23pm

ISaidLifeIsJus
tAGame

avatar

nelcp777 said:

I said, the note is also being offset by royalties. That seems odd or is it me?

Maybe the note is a loan to the Estate?

I dont really know. It is confusing.

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Reply #99 posted 09/13/18 8:43am

nelcp777

ISaidLifeIsJustAGame said:

nelcp777 said:

I said, the note is also being offset by royalties. That seems odd or is it me?

Maybe the note is a loan to the Estate?

I dont really know. It is confusing.

It is very confusing. I do not know why Comerica is tying the royalties to this loan. It is not from the LLC, that is in a separate section.

As for the lawyers for the divorce, I thought Patrick Cousins handled the second divorce. That was Cousin's arguement to file a claim to the Estate.

Is KAJ doing videos? Perhaps he worked on the Nothing Compares 2 U videoo? I googled Kirk's company and it said it was a Video Production Company.

I am not understanding the Troy Carter LLC investment. There is not much independence there in my opinion.

The financials seem very dissappointing. I wish the Heirs would just agree to disagree and complete the Probate process and then fight after that. At least then, the money for the Estate will not be depleted on legal fees. Thoughts?

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Reply #100 posted 09/13/18 9:02am

ISaidLifeIsJus
tAGame

avatar

nelcp777 said:

ISaidLifeIsJustAGame said:

Maybe the note is a loan to the Estate?

I dont really know. It is confusing.

It is very confusing. I do not know why Comerica is tying the royalties to this loan. It is not from the LLC, that is in a separate section.

As for the lawyers for the divorce, I thought Patrick Cousins handled the second divorce. That was Cousin's arguement to file a claim to the Estate.

Is KAJ doing videos? Perhaps he worked on the Nothing Compares 2 U videoo? I googled Kirk's company and it said it was a Video Production Company.

I am not understanding the Troy Carter LLC investment. There is not much independence there in my opinion.

The financials seem very dissappointing. I wish the Heirs would just agree to disagree and complete the Probate process and then fight after that. At least then, the money for the Estate will not be depleted on legal fees. Thoughts?



Cousins may have handled the M2 divorce but when M2 filed against P after the divorce in 2010, she received a $276,000 judgment against P, and it was the law firm of Hensen & Efron that was representing him.

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Reply #101 posted 09/13/18 9:54am

nelcp777

ISaidLifeIsJustAGame said:

nelcp777 said:

It is very confusing. I do not know why Comerica is tying the royalties to this loan. It is not from the LLC, that is in a separate section.

As for the lawyers for the divorce, I thought Patrick Cousins handled the second divorce. That was Cousin's arguement to file a claim to the Estate.

Is KAJ doing videos? Perhaps he worked on the Nothing Compares 2 U videoo? I googled Kirk's company and it said it was a Video Production Company.

I am not understanding the Troy Carter LLC investment. There is not much independence there in my opinion.

The financials seem very dissappointing. I wish the Heirs would just agree to disagree and complete the Probate process and then fight after that. At least then, the money for the Estate will not be depleted on legal fees. Thoughts?



Cousins may have handled the M2 divorce but when M2 filed against P after the divorce in 2010, she received a $276,000 judgment against P, and it was the law firm of Hensen & Efron that was representing him.

Wow, I didn't know that M2 filed against P after the divorce. Thanks for the info.

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Reply #102 posted 09/13/18 10:27am

ISaidLifeIsJus
tAGame

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I think Troy Carter gets a % of any business deals he obtains for the Estate?

I wonder if the note payable is to WB? Tidal?

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Reply #103 posted 09/13/18 10:44am

onlyforaminute

Sounds like folks got caught up in this being the opportunity to be famous like the Jacksons, and skipped focusing on learn the business of the Estate, while others knowing the business are using this as an opportunity to advance. ssdd.

"You want to know your biggest fault? You don’t keep true accounts: you put a high value on what you’ve given, a low value on what you’ve received."

- Seneca, On Anger 3.31.3
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Reply #104 posted 09/13/18 10:58am

nelcp777

ISaidLifeIsJustAGame said:

I think Troy Carter gets a % of any business deals he obtains for the Estate?

I wonder if the note payable is to WB? Tidal?

I was wondering on the WB idea, but I did forget about Tidal. Has the Tidal suit been officially settled?

I was surprised that the total claims that were settled were around $260,000. That seems like a lot less than originally claimed.

Did anyone notice any relation to the PP Musuem in the forms of revenue? I think I missed that.

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Reply #105 posted 09/13/18 11:19am

PennyPurple

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https://theblast.com/prince-music-equipment-collection/amp/?__twitter_impression=true



The estate for Prince is revealing an appraiser determined the singer left behind musical equipment worth over $2.8 million.

On September 7, the estate filed an inventory of the current assets and property from the time period of February 2017 to January 2018.

During that timeframe, Prince pulled in $755,173.41 in royalties, an additional $2.45 million in “other income,” $20,112 in rental income and $277k in tax refunds.

They note that in previous inventory filings, they forgot to mention Prince had two additional gold bars — “1 ounce each” — worth a total of $2,502.

Prince’s estate has $15,196,500 worth of real estate and $19,612,358.47 in notes and cash. The docs redacted the amounts of stocks and other personal property the singer owned.



An appraiser hired by the estate determined that Prince’s musical instruments are worth an estimated $2,858,875 and photographs he had could sell for $40,165. The other personal items he owned could be worth around $900,000.

The estate paid out several million dollars in legal and administration fees during the period and dropped over $2 million on federal and state taxes.

Prince’s family and heirs did not receive a dime during the time period. The estate did spend close to $100,000 on public relations, $109,866 on storage fees, $272k on an appraiser and over $200k on insurance costs.

The documents redacted the amount Prince’s costumes and memorabilia were estimated to be worth.

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Reply #106 posted 09/13/18 12:10pm

ISaidLifeIsJus
tAGame

avatar

nelcp777 said:

ISaidLifeIsJustAGame said:

I think Troy Carter gets a % of any business deals he obtains for the Estate?

I wonder if the note payable is to WB? Tidal?

I was wondering on the WB idea, but I did forget about Tidal. Has the Tidal suit been officially settled?

I was surprised that the total claims that were settled were around $260,000. That seems like a lot less than originally claimed.

Did anyone notice any relation to the PP Musuem in the forms of revenue? I think I missed that.



Tidal was settled for sure. But we dont know if there was $$ exchanged because the actual settlment terms were redacted.



Some claims have previously been paid out and were on the prior Accounting, and wouldnt be on the new accounting.

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Reply #107 posted 09/14/18 9:42pm

udo

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We got some numbers at https://theblast.com/prin...ollection/.

How much money did the estate pay to the lawter leaches in the same period?

Pills and thrills and daffodils will kill
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Reply #108 posted 09/15/18 12:14pm

purplemist7777

Could the $4.7 note be for that perfume debacle? Wonder if they can go after Patrick Cousins for that and other misdeeds?

Also, did the Turks property ever go up for auction? I checked that website and it is listed for $9.9 million and not under their “success” tab.
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Reply #109 posted 09/17/18 2:24pm

ISaidLifeIsJus
tAGame

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Mystery solved. I looked at prior documents filed in Probate Court, and Prince owned 999 units of NPG Music Publishing, and Paisley Park Enterprises, Inc. owns 1 unit of NPG Music Publishing.

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Reply #110 posted 09/17/18 3:41pm

nelcp777

ISaidLifeIsJustAGame said:



Mystery solved. I looked at prior documents filed in Probate Court, and Prince owned 999 units of NPG Music Publishing, and Paisley Park Enterprises, Inc. owns 1 unit of NPG Music Publishing.


Nice catch. Thanks
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Reply #111 posted 09/19/18 6:36am

1Sasha

I heard "Let's Get Crazy" in a Capital One TV commercial last night. Kaching ...

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Reply #112 posted 09/19/18 8:43am

udo

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1Sasha said:

I heard "Let's Get Crazy" in a Capital One TV commercial last night. Kaching ...

.

I still think the estate is not making enough money to compensate for the lawyer-type leaches.

Of course not enough numbers on this page to confirm but the income looks pretty low.

Pills and thrills and daffodils will kill
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Reply #113 posted 09/19/18 10:01am

1Sasha

I agree. Two years of infighting decimating what could have been.

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Reply #114 posted 09/19/18 11:31pm

sonshine

avatar

nelcp777 said:



ISaidLifeIsJustAGame said:




nelcp777 said:




I said, the note is also being offset by royalties. That seems odd or is it me?



Maybe the note is a loan to the Estate?


I dont really know. It is confusing.



It is very confusing. I do not know why Comerica is tying the royalties to this loan. It is not from the LLC, that is in a separate section.



As for the lawyers for the divorce, I thought Patrick Cousins handled the second divorce. That was Cousin's arguement to file a claim to the Estate.



Is KAJ doing videos? Perhaps he worked on the Nothing Compares 2 U videoo? I googled Kirk's company and it said it was a Video Production Company.



I am not understanding the Troy Carter LLC investment. There is not much independence there in my opinion.



The financials seem very dissappointing. I wish the Heirs would just agree to disagree and complete the Probate process and then fight after that. At least then, the money for the Estate will not be depleted on legal fees. Thoughts?


I said this 2 years ago already. There is no way they can generate enough money to keep paying lawyers. The legal fees must surely outpace the income quite handily.
It's a hurtful place, the world, in and of itself. We don't need to add to it. We all need one another. ~ PRN
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Reply #115 posted 09/20/18 6:45am

udo

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sonshine said:

The legal fees must surely outpace the income quite handily.

.

If we assume that during P's life the legal costs were similar then we know why he toured.

We also know that this Estate situation is not going to last.

Perhaps they will eventually be forced to release more vault tracks?

Pills and thrills and daffodils will kill
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Reply #116 posted 09/20/18 11:34am

Rev

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I would imagine that the siblings have reasons for not trying to resolve their parts. But, this makes no sense. Dragging it out and wasting money.

Isn't it true that they're getting nothing until then from the estate?

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Reply #117 posted 09/20/18 12:26pm

nelcp777

Rev said:

I would imagine that the siblings have reasons for not trying to resolve their parts. But, this makes no sense. Dragging it out and wasting money.

Isn't it true that they're getting nothing until then from the estate?

I believe the taxes on the Estate have to be paid first before any distributing of the assets can be done.

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Reply #118 posted 09/20/18 12:44pm

onlyforaminute

The judge named the heirs months ago I think the one year waiting period is coming to a close soon so they inherit at that point. Unless there's been some kind of holdup?
"You want to know your biggest fault? You don’t keep true accounts: you put a high value on what you’ve given, a low value on what you’ve received."

- Seneca, On Anger 3.31.3
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Reply #119 posted 09/20/18 1:23pm

ISaidLifeIsJus
tAGame

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onlyforaminute said:

The judge named the heirs months ago I think the one year waiting period is coming to a close soon so they inherit at that point. Unless there's been some kind of holdup?


The Judge named the heirs in May 2017.
The one year waiting period ran its course in May 2018.

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