Prince's Estate To Be Temporarily Overseen By Trust Company

MINNEAPOLIS (CBSNewYork/AP) -- A trust company has been appointed to temporarily oversee Prince's multimillion-dollar estate.

Bremer Trust was named special administrator of Prince's estate on Wednesday after an informal telephone conference with some of the musician's possible heirs and a judge.

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The judge says Bremer Trust now has the authority to manage and supervise Prince's assets and determine his heirs. Bremer will act as special administrator for six months or until a personal representative is appointed.

Prince's sister, Tyka Nelson, asked for the appointment of a special administrator, saying she believes her brother didn't have a will and that immediate decisions about his business interests needed to be made.

Among Prince's assets is his $10 million, 65,000-square-foot Paisley Park complex designed by the Los Angeles architect Bret Theony.

Prince was found dead at his Paisley Park studio compound in the Minneapolis suburb of Chanhassen on April 21. Authorities said it could take days or even weeks before the public learns the cause of his death.

The value of his estate wasn't immediately known.

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