Final valuation of Prince's estate priced at $156.4 million

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Prince‘s estate has finally reached a value that has been approved by all parties — thus averting a court showdown.  After spending nearly six years in limbo following the “Purple Rain” singer’s untimely death, the Internal Revenue Service declared his estate is worth $156.4 million.

Minnesota’s Star Tribune reports the settlement was years in the making, which estate administrator Comerica Bank and Trust called a “fair and reasonable” settlement.

Charles F. Spicer Jr., who represents Prince’s heirs, confirmed the news Entertainment Weekly and said, “We’re looking out for the best interest of fans ensure that Prince’s legacy remains for generations to come.”

The matter nearly went to trial