After the death of Aaron Carter nearly two years ago, his estate is now undergoing a valuation process, bringing clarity to his financial assets posthumously. He died on November 5, 2022 and was 34 years old.
The singer's estate is valued in the high six figures.
The "I'm All About You" singer met his tragic death as he was discovered submerged in a bathtub by a diligent housekeeper. Following a thorough investigation, the Los Angeles County Medical Examiner-Coroner attributed his passing to a tragic accident.
It was further revealed that Carter had tragically drowned due to inhaling difluoroethane, a refrigerant commonly found in compressed air canisters for cleaning, and also having taken generic Xanax.
In legal records acquired by Radar Online, Carter's total estate was estimated to be valued at $757,400 as of April 2023.
The current evaluation may underestimate the total value of Carter's assets, as items are awaiting appraisal as outlined in the records. However, the estate could be facing substantial tax liabilities that might diminish a considerable portion of his wealth.
In addition to facing claims from various creditors, there were unresolved matters surrounding the estate.
Wells Fargo reportedly filed a claim last year over unpaid bills from Carter's account. While the amount owed to the bank was not specified, it was settled entirely, and the claim was later retracted.
In May 2023, the Franchise Tax Board of California took action by lodging a claim against Carter's estate, likely due to outstanding tax obligations.
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Initially, the tax board declared that Carter's estate had an outstanding balance of approximately $17,000. However, this figure was later revised to $77,310.92, leaving uncertainty about the reasons behind the considerable increase.
It is currently unclear from the available documents whether the tax liability has been resolved.
Carter did not have a will in place at the time of his untimely passing.
Before his death, Carter's attorney reportedly advised him to create a will, ensuring that his son Prince, born to his on-again, off-again Melanie, would be set to inherit his belongings. Despite any debts to settle, Prince stands to receive whatever remains of his father's estate.
Records show that there are additional items belonging to Carter that still need to be evaluated. These items include electronic gadgets stored away, a selection of firearms, his jewelry pieces, the furniture in his residence, and his various vehicles.
In addition to his music, Carter also earned income from royalties, which must be included in the calculation process.
His estate aims to complete the valuation of his remaining assets by the conclusion of 2024.
