Picture of Prince

Prince may have sung that "Money Don't Matter 2 Night," but it's clear that the $300 million estate he left behind matters quite a bit. Since Prince didn't plan his estate, his family and loved ones are stuck with the headache of probate proceedings. Between the current federal estate tax rate of 40% and an additional 16% from the state of Minnesota, the majority of Prince's estate is going to the Tax Man. Needless to say, there is much that could have been done to avoid probate and minimize estate tax.

Read more here.

 
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