Breaking: PRINCE DEAD AT 57
- Thread starter Spectrum
- Start date
Man.....that's real fucking cool. Props!
Yay or Nay?
Don't know if this is a repost or not. Long thread.
prince was an all time great music would never be the same. I always wanted to see him perform live I guess I would never get the chance rip
Peace HOG,
I didn't listen. But I have a feeling this is going to be great.
I will listen later.
D'Angelo pays tribute to Prince
They say you don't really appreciate something or someone until they're gone. I'm going to miss this dude.
Not to knock D'Angelo, I respect the tribute, but Sometimes it snows in April is one of those songs that no one else should touch.
Prince tribute in Fort Greene park (Brooklyn) Friday night. Music from 5-8 followed by a screening of purple rain after.
https://www.dnainfo.com/new-york/20...tribute-be-held-fort-greene-park-friday-night
https://www.dnainfo.com/new-york/20...tribute-be-held-fort-greene-park-friday-night
'If youre in the bed, dance on your back....'-Mojo
Peace Bravo,
You gotta be from Detroit to know that. You from Detroit?
Turn your porch lights on
Honk your horns
Splash if you in water
THE MIDNIGHT FUNK ASSOCIATION IS NOW CALLED TO ORDER!!!
Then MOJO might bust into some PRINCE, PARLIAMENT, AEROSMITH, BOB MARLEY, STONES, MARVIN, OHIO PLAYERS, KURTIS BLOW, GRANDMASTER FLASH AND FURIOUS 5, MJ, KRAFTWORK, KANO, COLONEL ABRAMS, CYBOTRON, RUN, LL (RADIO ALBUM), PATRICE RUSHEN AND MILES, TRAFFFIC, TIME, DEVO, B-52'S, ADAM ANT, BOOTSY AND ALL THE NEW HOT R &B SHIT AND CLASSICS.
I remember @ 12AM kats would literally stop what was going on to tune into MOJO and the MFA broadcast.
You would see kats huddled on corners, people sitting on their porch, cars parked on the strip at Belle Isle, Cars and trucks booming through the CITY....ALL tuned to MOJO and THE MFA (MIDNIGHT FUNK ASSOCIATION).
I had the MEMBERSHIP card, t-shirt and everything.
As conscious and private dude was,why the fuck doesn't he have a Will. Supposedly WMG has a billion dollar insurance policy on him.
Yes Sir. 7mile & Sunderland and Dexter/Joy Road
It wasn't that bad. He definitely wasn't hitting that falsetto right. Was that Minnie Ripperton's daughter singing backup?
Peace Brother,
Thanks, for the post.
When you dropped that line I knew you were from Detroit without a doubt. I have not heard a DJ play the variety of music MOJO played anywhere else. And break so many new records and Artist that became Superstars.
Peace BROTHER,
DAMN!!!
No Will? That would be unbelievable.
WARNER got insurance policy for a $1 billion dollars on my man. They clearly understood his value and worth.
Is there a link to this?
I think fans want anything Prince related right now.
True that!
Peace FAM,
No will. Talk about fucked up?
http://www.forbes.com/sites/robertw...-a-will-but-there-will-be-taxes/#40b84d6a5c0d
Prince Died Without A Will, But There Will Be Taxes
Prince’s death was a shock, and now there is another as court documents go on file. Probate documentsfiled in court say that Prince died without a will. His sister, Tyka Nelson, age 55, confirmed that she does not know of the existence of a will. Although Prince did not have a spouse or children, the court filings list five half-siblings: half-brothers John Nelson, Alfred Jackson and Omar Baker, and his half-sisters Norrine and Sharon Nelson. Minnesota law provides that half-siblings are treated the same as full siblings. Prince’s net worth is not yet clear, but is surely in the hundreds of millions of dollars. And that means the IRS will collect handsomely, perhaps 40%.
Prince Tribute at the Warner Music Building in Burbank, CA on April 26, 2016. (Photo credit: David Edwards/MediaPunch/IPX)
Unexpected celebrity deaths can make the rest of us think about what documents we need to have in place. The tax and financial hassle of probate or intestacy can be huge, even for normal sized estates. When you add the kind of zeros that go with a mega-successful entertainer, the failures can seem much more palpable. Prince is the latest example, echoing the passing of Philip Seymour Hoffman, James Gandolfini, Amy Winehouse, Heath Ledger, and others.
All of these celebrity estates had issues or gaffes of one sort or another. For example, Seymour Hoffman had three children with Marianne O’Donnell, but the couple never married. Plus, he mentioned only one child in his will, not all three. And although it is tough to compare any of these sad cases, like Prince, Amy Winehouse didn’t even have a will. That means we do not know what either one of them would have wanted to have happen to their assets. Amy Winehouse’s parents inherited her estate, while her ex-husband got nothing.
We know little of what Prince wanted to have happen to his quite substantial estate. Of course, a will would not necessarily solve everything. Heath Ledger had a will, but it was five years old. It gave his parents and sisters his $20 million estate, failing to mention Michelle Williamsor their child. And after James Gandolfini died at 51, reports saidhis willclumsily sent $30 million of his $70 million to the IRS. The stories should make tax advisers and estate planners cringe. And although it isn’t an easy subject for anyone to discuss, a few key points deserve mention.
A will would have been clear as to what Prince wanted, but even a will is public. There is actually no reason the public has to know about who you benefit and who you may disinherit. Incredibly, Seymour Hoffman, Ledger and Gandolfini all ended up with wills in probate. Normal planning would avoid that. After all, probate is public, expensive, time consuming and unnecessary. Of course, it is worse not to have a will.
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Not having one can foment litigation. After dying without a will, singer John Denver’s family spent six years in court. But a willstillhas to go through the courts. For very little money, a revocable trust disposes of your assetsoutsidecourt. You still do a simple pour-over will. It gives everything to the revocable trust. It is simple and confidential. We do not know if Prince ever had a will, and it is possible that one may surface. That sometimes happens particularly when there are changes in family circumstance over the years.
Advisers generally say you should update wills and revocable trusts for big events like births, marriage, divorce, etc. With no will, we do not know what Prince wanted, and that is where state law usually comes in. Prince did not have a spouse, but some unmarried people still give their assets to a non-spouse loved one. For example, Seymour Hoffman gave his $35 million estate to Marianne O’Donnell, but they were never married. Curiously, marriage savestaxes, and this is another reason there will be a big tax hit on Prince’s death.
You can give an unlimited amount to your spouse tax-free during life or on death. Prince’s estate may face a 40% estate tax, but it is interesting to contemplate what would have happened had he been married and given his estate to his spouse. The answer? No federal estate tax, at least not until the death of his spouse. In contrast, Marianne O’Donnell ended up with Seymour Hoffman’sentire estate, but since they were unmarried,taxesdevoured approximately $15 million. If they had been married, it would be tax-free.
Any legal marriage saves gift and estate taxes, one of many reasons the legitimacy of gay marriage is so important. Marriage isn’tonly about taxes, and estate planning isn’t either. James Gandolfini was criticized by some tax planners for benefiting his sister, which meant paying estate taxes. However, he wanted his sister to receive a large share, and taxes may have been inevitable. Your wishes are more important than tax efficiency.
Some may criticize Prince for not planning ahead. But from a tax viewpoint, it may not matter. The current federal estate tax law says he can (by will or intestacy) give $5.45 million tax free to anyone. Add to that gifts to qualified charities, such as the Jehovah’s Witnesses. But beyond that, Prince’s estate will have to pay. The current federal estate tax rate is 40%. For every million dollars going to a half-sibling, for example, the IRS will get $400,000. That would not have been helped by a will.
Bernie and Hillary are promoting a ’sensible’ estate tax that would hike the rate to 45% and cut the exemption from $5.45 million down to $3.5 million. Even if it passes, it won’t apply to Prince. As the facts and claimants come forward, one big question will be just how big Prince’s estate may be. And the IRS is sure to collect handsomely.
No will. Talk about fucked up?
http://www.forbes.com/sites/robertw...-a-will-but-there-will-be-taxes/#40b84d6a5c0d
Prince Died Without A Will, But There Will Be Taxes
Prince’s death was a shock, and now there is another as court documents go on file. Probate documentsfiled in court say that Prince died without a will. His sister, Tyka Nelson, age 55, confirmed that she does not know of the existence of a will. Although Prince did not have a spouse or children, the court filings list five half-siblings: half-brothers John Nelson, Alfred Jackson and Omar Baker, and his half-sisters Norrine and Sharon Nelson. Minnesota law provides that half-siblings are treated the same as full siblings. Prince’s net worth is not yet clear, but is surely in the hundreds of millions of dollars. And that means the IRS will collect handsomely, perhaps 40%.
Prince Tribute at the Warner Music Building in Burbank, CA on April 26, 2016. (Photo credit: David Edwards/MediaPunch/IPX)
Unexpected celebrity deaths can make the rest of us think about what documents we need to have in place. The tax and financial hassle of probate or intestacy can be huge, even for normal sized estates. When you add the kind of zeros that go with a mega-successful entertainer, the failures can seem much more palpable. Prince is the latest example, echoing the passing of Philip Seymour Hoffman, James Gandolfini, Amy Winehouse, Heath Ledger, and others.
All of these celebrity estates had issues or gaffes of one sort or another. For example, Seymour Hoffman had three children with Marianne O’Donnell, but the couple never married. Plus, he mentioned only one child in his will, not all three. And although it is tough to compare any of these sad cases, like Prince, Amy Winehouse didn’t even have a will. That means we do not know what either one of them would have wanted to have happen to their assets. Amy Winehouse’s parents inherited her estate, while her ex-husband got nothing.
We know little of what Prince wanted to have happen to his quite substantial estate. Of course, a will would not necessarily solve everything. Heath Ledger had a will, but it was five years old. It gave his parents and sisters his $20 million estate, failing to mention Michelle Williamsor their child. And after James Gandolfini died at 51, reports saidhis willclumsily sent $30 million of his $70 million to the IRS. The stories should make tax advisers and estate planners cringe. And although it isn’t an easy subject for anyone to discuss, a few key points deserve mention.
A will would have been clear as to what Prince wanted, but even a will is public. There is actually no reason the public has to know about who you benefit and who you may disinherit. Incredibly, Seymour Hoffman, Ledger and Gandolfini all ended up with wills in probate. Normal planning would avoid that. After all, probate is public, expensive, time consuming and unnecessary. Of course, it is worse not to have a will.
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Not having one can foment litigation. After dying without a will, singer John Denver’s family spent six years in court. But a willstillhas to go through the courts. For very little money, a revocable trust disposes of your assetsoutsidecourt. You still do a simple pour-over will. It gives everything to the revocable trust. It is simple and confidential. We do not know if Prince ever had a will, and it is possible that one may surface. That sometimes happens particularly when there are changes in family circumstance over the years.
Advisers generally say you should update wills and revocable trusts for big events like births, marriage, divorce, etc. With no will, we do not know what Prince wanted, and that is where state law usually comes in. Prince did not have a spouse, but some unmarried people still give their assets to a non-spouse loved one. For example, Seymour Hoffman gave his $35 million estate to Marianne O’Donnell, but they were never married. Curiously, marriage savestaxes, and this is another reason there will be a big tax hit on Prince’s death.
You can give an unlimited amount to your spouse tax-free during life or on death. Prince’s estate may face a 40% estate tax, but it is interesting to contemplate what would have happened had he been married and given his estate to his spouse. The answer? No federal estate tax, at least not until the death of his spouse. In contrast, Marianne O’Donnell ended up with Seymour Hoffman’sentire estate, but since they were unmarried,taxesdevoured approximately $15 million. If they had been married, it would be tax-free.
Any legal marriage saves gift and estate taxes, one of many reasons the legitimacy of gay marriage is so important. Marriage isn’tonly about taxes, and estate planning isn’t either. James Gandolfini was criticized by some tax planners for benefiting his sister, which meant paying estate taxes. However, he wanted his sister to receive a large share, and taxes may have been inevitable. Your wishes are more important than tax efficiency.
Some may criticize Prince for not planning ahead. But from a tax viewpoint, it may not matter. The current federal estate tax law says he can (by will or intestacy) give $5.45 million tax free to anyone. Add to that gifts to qualified charities, such as the Jehovah’s Witnesses. But beyond that, Prince’s estate will have to pay. The current federal estate tax rate is 40%. For every million dollars going to a half-sibling, for example, the IRS will get $400,000. That would not have been helped by a will.
Bernie and Hillary are promoting a ’sensible’ estate tax that would hike the rate to 45% and cut the exemption from $5.45 million down to $3.5 million. Even if it passes, it won’t apply to Prince. As the facts and claimants come forward, one big question will be just how big Prince’s estate may be. And the IRS is sure to collect handsomely.
Prince had no will, says his sister
The singer had a thriving brand, which included thousands of unreleased songs, a record label and his Paisley Park property.
Nelson and Prince also have half siblings, John Nelson, Norrine Nelson, Sharon Nelson, Alfred Jackson and Omar Baker, all of whom are also named in the petition as heirs.
Prince's sister has requested that a special administrator be appointed to deal with the singer's assets.
Without a will, Minnesota law states that his estate would go to his sister and his half-siblings. They would control his brand, including Prince's NPG record label and thousands of unreleased songs.
Celebrity estate transfers can be messy -- with or without a will. Potential heirs or beneficiaries sometimes come out of the woodwork to claim part of a dead celebritys' wealth.
A probate court judge will have to determine whether any such claims to Prince's estate are legitimate. Most probate court cases are open to the public, which means many of the details of Prince's estate could be aired out like dirty laundry. A judge could decide that the documents should be sealed.
Related: Prince had a legendary career of hit records and a tightly controlled brand
There's also a possibility that Prince did determine what he wanted to do with his estate in the event of his death -- and we just don't know what that plan was yet. He could have established a trust, which is an alternative to a will.
"Just because she thinks there's no will, doesn't mean there's no trust out there," said estate planner Danielle Mayoras, author of "Trial and Heirs," a book about highly publicized battles over celebrities' fortunes.
Presumably, by now a lawyer would have come forward if Prince had drafted a trust. But it has only been a few days since Prince's death, and anything can happen.
When Michael Jackson died in 2009, his mother, Katherine Jackson, filed a case in probate court to claim his estate. But while the case was ongoing, a lawyer for her son came forward with a trust that Michael had drafted years earlier.
- @CNNMoneyApril 26, 2016: 3:01 PM ET
The singer had a thriving brand, which included thousands of unreleased songs, a record label and his Paisley Park property.
Nelson and Prince also have half siblings, John Nelson, Norrine Nelson, Sharon Nelson, Alfred Jackson and Omar Baker, all of whom are also named in the petition as heirs.
Prince's sister has requested that a special administrator be appointed to deal with the singer's assets.
Without a will, Minnesota law states that his estate would go to his sister and his half-siblings. They would control his brand, including Prince's NPG record label and thousands of unreleased songs.
Celebrity estate transfers can be messy -- with or without a will. Potential heirs or beneficiaries sometimes come out of the woodwork to claim part of a dead celebritys' wealth.
A probate court judge will have to determine whether any such claims to Prince's estate are legitimate. Most probate court cases are open to the public, which means many of the details of Prince's estate could be aired out like dirty laundry. A judge could decide that the documents should be sealed.
Related: Prince had a legendary career of hit records and a tightly controlled brand
There's also a possibility that Prince did determine what he wanted to do with his estate in the event of his death -- and we just don't know what that plan was yet. He could have established a trust, which is an alternative to a will.
"Just because she thinks there's no will, doesn't mean there's no trust out there," said estate planner Danielle Mayoras, author of "Trial and Heirs," a book about highly publicized battles over celebrities' fortunes.
Presumably, by now a lawyer would have come forward if Prince had drafted a trust. But it has only been a few days since Prince's death, and anything can happen.
When Michael Jackson died in 2009, his mother, Katherine Jackson, filed a case in probate court to claim his estate. But while the case was ongoing, a lawyer for her son came forward with a trust that Michael had drafted years earlier.
http://hosted.ap.org/dynamic/stories/U/US_PRINCE_ESTATE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
PRINCE'S ESTATE TO BE TEMPORARILY MANAGED BY TRUST COMPANY
MINNEAPOLIS (AP) -- A trust company has been appointed to temporarily oversee Prince's multimillion-dollar estate.
Bremer Trust was named special administrator of Prince's estate on Wednesday after an informal telephone conference with some of the musician's possible heirs and a judge.
The judge says Bremer Trust now has the authority to manage and supervise Prince's assets and determine his heirs. Bremer will act as special administrator for six months or until a personal representative is appointed.
Prince's sister, Tyka Nelson, asked for the appointment of a special administrator, saying she believes her brother didn't have a will and that immediate decisions about his business interests needed to be made.
Prince died last week at his home in suburban Minneapolis. His cause of death hasn't been released. The value of his estate isn't known.
PRINCE'S ESTATE TO BE TEMPORARILY MANAGED BY TRUST COMPANY
MINNEAPOLIS (AP) -- A trust company has been appointed to temporarily oversee Prince's multimillion-dollar estate.
Bremer Trust was named special administrator of Prince's estate on Wednesday after an informal telephone conference with some of the musician's possible heirs and a judge.
The judge says Bremer Trust now has the authority to manage and supervise Prince's assets and determine his heirs. Bremer will act as special administrator for six months or until a personal representative is appointed.
Prince's sister, Tyka Nelson, asked for the appointment of a special administrator, saying she believes her brother didn't have a will and that immediate decisions about his business interests needed to be made.
Prince died last week at his home in suburban Minneapolis. His cause of death hasn't been released. The value of his estate isn't known.
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