While it is not clear why the estate rejected this offer, there appears to be an upset with Jay Z over issues with his music streaming service Tidal. The estate is accusing Jay Z of releasing 15 Prince albums on the service after Prince’s death without permission. It also accuses Tidal of not paying $750,000 that was owed for a deal that Prince and Jay Z negotiated to have Prince’s last album released on the streaming service.
This could be an indication that the estate is preparing a lawsuit against Jay Z.
With the rejection of the deal to purchase the music rights, it remains uncertain how the estate plans to come up with the funds to pay the estate taxes it owes.
Problems often arise when there is no estate plan left behind. An estate planning attorney can guide you in creating a plan that fits your unique circumstances.
