Late soul singer Aretha Franklin’s estate’s $78 million IRS debt has finally been paid off, and, as such, her sons are set to receive millions of dollars from it.
According to news reports, a new court filing by Franklin’s estate’s attorney, Reginald Turner, indicates that the $78 million IRS debt was paid in full via a cashier’s check on June 17.
Following the icon’s passing in 2018, the IRS filed a motion, claiming she owed approximately $8 million in unpaid taxes, penalties, and interest, which had accumulated within seven years before her death. As such, her estate struck a deal with the IRS that reserved 45 percent of Aretha’s revenue while taxes on new earnings was managed, with another 40 percent being directed to an escrow account.
Now that the debt has been paid off, the late singer’s four sons–Kecalf Cunningham (52), Teddy Richards (58), Edward Franklin (65), and Clarence Franklin (67)–will reportedly receive funds generated via her estate, the Aretha Franklin Estate concluded. The money is to be evenly shared amongst them, and they will also be responsible for paying taxes.
The four men reportedly hadn’t received a dime from their mother’s estate, as its profits went straight to the government. She passed away from pancreatic cancer and, according to Celebritynetworth, had a net worth of $80 million at the time.
After a biopic film of her life titled Respect, starring Grammy Award-winning singer Jennifer Hudson, was released in 2021, her last son spoke out about being upset over it.
“When my brothers and I became aware of this project, the Genius series had already started production,” Kecalf said in a statement released in March of that year. “It is our opinion that the producers of this series neglected to take the necessary steps to properly prepare for this biopic production. Most creatives begin with a subject’s immediate family to produce the most authentic and honest version of that person’s life. In our opinion, the Genius series failed to do so. I nor my brothers have ever spoken with the producers of this series. We agree that our mother’s life’s work should be celebrated but with respect.”
