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New administrator recommends suit by Prince estate

Californians who are fans of Prince might be interested in learning about the latest twist in the administration of his estate. Recently, the new special administrator who was appointed by the court to oversee the estate submitted findings that Prince's estate should seek the recoupment of legal fees and costs that the estate paid to its former attorneys in a failed $31 million deal with Universal Music Group.

According to news sources, the attorneys negotiated a contract with UMG that would have granted it rights to a package of music, including the previously unreleased music that is contained in Prince's "vault." After the contract was negotiated, UMG decided to back out because of concerns it had about the rights that were granted to Warner Music Group in 2014.

The second special administrator was appointed by the court in August to investigate whether any liability existed arising out of the failed deal with UMG. The deal was approved by the estate's first special administrator after the attorneys negotiated it. The attorneys charged a commission of 10 percent on the $31 million deal.

Estate administration can be complex, and when it is performed incorrectly, the estates and the beneficiaries may file lawsuits. People who believe that their loved ones' estates have been mismanaged might want to consult with estate and probate litigation lawyers. The attorneys might advise people about whether or not there are sufficient grounds to file lawsuits. If they agree to accept the claims, the lawyers may investigate the matters and file claims to try to recover monetary damages to make their clients financially whole.

Source: Billboard, "Investigation into Prince estate's voided deal with UMG recommends pursuing repayment of legal fees," Colin Stutz, Dec. 15, 2017.

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