Tyka Nelson, 55, will be awarded Prince's estate under Minnesota state law as his closest living relative.
She and her brother were close in recent years after a difficult stretch in their relationship when Tyka was struggling with an addiction to crack cocaine and prostituting herself to support her two young sons, Sir Montece Laeil Nelson and President LenNard Laeil Nelson.
Prince has an approximate net worth of $300million, which does not include the millions his estate is set to make in the coming weeks from the increased sale of merchandise and music or the money the singer received when he signed a deal agreeing to stream all his music on Tidal.
His music catalog meanwhile is worth over $500million according to Prince's first manager Owen Husney, due in large part to the fact that unlike other artists he owned both his master recordings as well as his own music publishing.
Prince also has a large collection of unreleased music, which Husney believes may include an album he made with jazz great Miles Davis.
Minnesota law states that if an unmarried individual with no children dies without a will, the parents, grandparents, and siblings of that person stand to inherit their wealth, though that can be contested in court under certain circumstances.
Prince's parents, John L. Nelson and Mattie Shaw, are both dead and Tyka is his only sibling.
After Tyka, Prince's closest relatives are his three half-sisters and four half-brothers.
His father John had three daughters and two sons from his marriage to Vivian Nelson - Lorna, Norrine, Sharon, Duane, and John.
Lorna passed away in 2006 and in 2011 her brother Duane died.
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