Over the past few weeks, we've talked extensively about how individuals might inherit various assets and the importance of managing estates to ensure all assets -- even intellectual property rights -- are accounted for and passed on to heirs. But what happens if you inherit something of value while you are in the bankruptcy process? The required actions depend on the value of the items you are inheriting, how you inherit them, and where in the bankruptcy process you are.
Media outlets across the country are reporting that Prince might have passed away without a will. While a temporary administrator is searching for any possible will, the artist's sizable estate remains in limbo.