Prince Had No Known Will, His Sister Says

According to Minnesota laws, without a will or trust, Prince's estate would be split between his sister and half-siblings.
3:35 | 04/27/16

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Transcript for Prince Had No Known Will, His Sister Says
millions of dollars more to prince's estate and Eva pilgrim is outside paisley park with the latest. Good morning, Eva. Reporter: This morning, new details over the possible future of prince's multimillion dollar estate. ABC news obtaining court documents filed by his only surviving full blood relative sister tyka Nelson officially asking a judge Tuesday to appoint a trust company to handle her brother's estate. He loved each and every one of you. Reporter: The 55-year-old stating in court documents she does not believe that prince had a will and according to Minnesota law if he didn't because he has no surviving parents or children his estate believed to be worth around $300 million would be split equally among tyka and his five surviving half siblings, however, his estate stands to make a significant profit going forward with four of his albums currently sitting atop the itunes top five chart, he is predicted to join the ranks of Elvis Presley and Michael Jackson who made billions posthumously. It seems to me it depends so much on what battles ensue. It could be years. Reporter: And it's not just those classic hits that could bring in big money. Prince's much talked about secret vault which is believed to have enough unreleased music to release one album a year for the next 100 years might not only have his voice on those songs. Deangelo, Patti Labelle. Angie stone. Going to the studio for hours. Reporter: Kim, the woman responsible for his ever changing 'do said she is still in shock. He loved us and we love him back. If you never do another thing for me, you have already done enough. Reporter: Prince's former band, the revolution announcing after spending several days together grieving prince they decided they will go back out on the road and play shows in his honor. No word yet when or where they will perform. George. Okay, Eva, thanks very much. Let's talk about this with our chief legal analyst, Dan Abrams. It's so hard to believe there might not be a will. Assume it's correct. What does it mean. You want to make sure there isn't a will, right, because there could be a trust somewhere that gives an indication of what he was thinking. He went through a lot of lawyers and managers over time. There might still be a will out there. But if there isn't a will, then it's likely going to be divided amongst the siblings equally. Half siblings and full siblings get equal access but the first thing a probate court is going to have to do appoint an executer, again, we're not just talking about money in the past as Eva laid out we're also talking about millions and millions of dollars moving forward. Here's the question. Because of that secret vault of songs but if he left no instructions is it okay to publish those songs. That's going to be the decision someone will have to make and, look, that's his fault. I mean, I hate to blame him after the fact but if he had strong feelings about what should happen to those songs after his death, he had to have written it down. Look, this is a reminder to everyone, if you have 300 to $500 million or $3,000 to $5,000 you have to write a will. Otherwise, you're going to create a mess for your family. They're going to be fights after the fact and no one is going to know what you want. This is years of lawsuits ahead. It could be. It could be, yeah. You hope it's not. Dan Abrams, thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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