Aaron Carter‘s estate is in a deep financial mess two years after the entertainer’s death.
The late singer’s property administrator disclosed that his estate is officially incapable of sorting out the unpaid expenses he left behind.
Aaron Carter passed on November 5, 2022, with experts claiming to have discovered prescription pills in his system during an autopsy.
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According to information from the final report tendered by the administrator, Aaron’s estate is “insolvent” and cannot fulfill financial obligations, especially the debt he owed before his death.
The report comes as a compulsory component of Aaron’s probate case. The estate administrator stated that the state of California had filed a creditor’s claim of $77,312 against Aaron’s estate after she informed the IRS and the State of California Franchise Tax Board of his demise.
She added that the IRS claimed the vocalist owed $46,116 for 2018 and another $118,000 for 2021. Reports indicate that the unpaid debt continued to accrue interest and penalties.
That is not all; Wells Fargo also filed a $2,800 debt against his estate, which has since been settled. However, In Touch confirmed the administrator has refused to pay another $19,000 Aaron owed a company as she claimed it was filed on time and they have run out of money.
In the wake of the administrator’s reports, it may now mean that the primary beneficiary of the estate, Aaron’s son Princeton Lyric Carter, has little to nothing on his tab.
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The executor claimed she had paid off all the debts and bills she could with Aaron’s assets, totaling $810,547.
The administrator’s latest bankruptcy claim is shocking since The Blast previously reported that legal documents filed by his estate last April confirmed that he owned assets worth $757,000.
His team then clarified that the $700k was tentative as it could be higher once they appraised his electronics, firearms, furniture, jewelry, music royalties, and car collection.
The estate’s final value, with Prince—Aaron’s son—receiving the lion’s share, was set to be determined after settling all of Aaron’s outstanding debts.
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The late teen pop singer and his former partner Melanie Martin were also named in a lawsuit filed by Sterile Pros LLC. Aaron owed $33,598.70, which his estate was to settle.
According to the company, the singer owed payment for “labor, services, equipment, and/or materials upon the premises, and upon every estate or interest in such structures and improvements” in their mechanic lien on his Lancaster property.
The establishment also demanded reimbursement for the biohazardous remediation of three bedrooms, the main bathroom, and a closet in the home.
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After Aaron’s passing, his sister, Angel Carter, and his ex-fiancée, Melanie Martin, became embroiled in a dispute over control of his estate.
Their conflict peaked last January, but Angel and Melanie opted for an out-of-court settlement shortly after the legal battle began.
Angel explained that her brother’s lack of a will prompted her to file a request to be appointed as the administrator of his estate. She also sought control over his funds, claiming that his inheritance was valued at $550,000 at the time of his death.
Ultimately, the feuding duo agreed that the best solution was to appoint a neutral third party as the estate’s administrator. Financial consultant Aileen Federizo was selected for the role, which led Angel to withdraw her petition.
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The singer tragically passed away from an accidental drug overdose, which might have been prevented if he had accepted his twin’s help.
As reported by The Blast, the mother of one claimed she dedicated a significant amount of time to helping him overcome his struggles with substance abuse. The singer ignored all her efforts, prompting his twin to declare painfully:
“I couldn’t save him. It wasn’t my responsibility to save him, but I tried.”
Angel explained how his downward spiral began, pointing out that her brother became the “breadwinner” of their family at a young age. She claimed the burden became too much for him to handle, leading him to seek solace in marijuana at the tender age of 12.
Things escalated after their parents’ divorce in 2003, as Aaron blamed himself for the split. According to Angel, “He thought that the success destroyed the family.”
The aftermath of their family’s situation led him to experiment “with ecstasy and huffing duster cans.” Angel confessed that she had no idea her brother continued using drugs into his 20s until years later when it was too late to intervene.
What fate awaits Aaron Carter’s estate regarding the unsettled debts? Only time will tell!
