News & Events
Blake Rummel's article "A strong spirit may transcend rules, just not probate rules" appeared in the Los Angeles and San Francisco Daily Journal on May 2, 2016. In the piece, Blake discusses the ramifications of late music superstar Prince dying without a will, the possible reasons behind him not having one, and whether intestacy laws in the future might include an intestate person's "charitable intent."
Click here to read the full article.
Several Weinstock Manion Attorneys Shed Light on Prince Estate
Martin Neumann and Robert Strauss were recently asked by several publications to discuss what may happen to Prince's estate after his unexpected death, as well as the lack of an obvious plan for the disposition of the artist's multi-million dollar estate. Martin was quoted by the Los Angeles Times, Forbes, CBS MoneyWatch and Buzzfeed News, while Robert was quoted in The Hollywood Reporter and USA Today.
According to Martin, Prince's music is expected to the be the focal point of his estate, and will only increase in value after his death, particularly his unreleased material.
"There's tremendous value there," Martin told the Times. "For someone like Prince who's been around for so long, obviously the value of his catalog will increase after his death, significantly more so than for other people."
Robert agreed, saying that the expected value of Prince's estate made the absence of a will even more surprising. Given Prince's history of generously donating to a variety of charitable causes, it's hard to believe the possibility that half of his wealth could end up in the hands of the IRS.
"It's a mess," said Robert in the Hollywood Reporter piece. "It's unlikely to be consistent with what he would otherwise have wanted to do... In the absence of a contribution agreement, the charities would get nothing."
For the Los Angeles Times story, see Value of Prince's $200-million estate is expected to soar in coming years
For Forbes, see Prince Died Without a Will. What Happens Next To His $150 Million-Plus Estate?
For CBS MoneyWatch, see 7 Factors That Will Determine Prince's Real Worth
For the BuzzFeed News article, see More Than Half of Prince's Vast Estate Will Go To Taxes
To read the Hollywood Reporter piece, see Prince's Estate: No Will Could Mean Chaos, Tax Bills and Lawsuits, Say Experts
For the USA Today story, see Could Paisley Park Become a Prince Museum? Maybe Not. - 5/6/2016
Martin Neumann Speaks to Los Angeles Times on Prince's Estate
Martin Neumann was recently quoted in Ryan Faughnder's Los Angeles Times article "Value of Prince's $300-million Estate is Expected to Soar in Coming Years," which discusses the many questions surrounding what may happen to Prince's intellectual property in the wake of his unexpected death last week. According to legal experts, the value of the artist's estate is only expected to skyrocket, particularly when it comes to his unreleased works. "There's tremendous value there," said Martin. "For someone like Prince who's been around for so long, obviously the value of his catalog will increase after hid death, significantly more so than for other people." To read the full article, click here. - 4/25/16
Jessica Babrick Quoted in Bloomberg Articles
Jessica Babrick was recently quoted in Edvard Pettersson's Bloomberg pieces "New Redstone Competency Report Filed in Court - and Sealed" and "Sumner Redstone Lawyers Said to Try to Settle Capacity Suit." In the articles, Jessica discusses the numerous estate and probate issues at hand in the highly publicized mental competency lawsuit alleging that television executive Sumner Redstone is no longer mentally competent. According to Jessica, settlement talks could be halted if Judge David Cowan has doubts about Redstone's capacity. "You don't know how concerned Cowan is," said Jessica. "We don't have access to all the documents that he has seen." To read the full articles and the rest of Jessica's comments, click here and here. - 4/20/2016