Kaylah Walton
Aaron Carter’s estate is currently experiencing major financial distress following his death two years ago. Recent probate documents indicate that his assets are significantly inadequate to cover his substantial tax debts and other obligations, resulting in minimal inheritance for his only child, son Princeton Lyric Carter.
The estate administrator reported that the pop artist, who died at 34 in November 2022, left an outstanding tax bill of $241,000 owed to the IRS and the State of California. Documents show that the estate is considered “insolvent,” with no viable solution in sight for settling these rising debts.
Overview of Aaron Carter’s financial situation
Although Carter’s assets were valued at $810,547 at his passing, legal fees and payments to higher-priority creditors have drastically reduced this sum. Among his debts, $77,312 is owed to the State of California, and $164,116 is owed to the IRS, which spans several tax years. These debts continue to accrue interest, worsening the estate’s financial difficulties.
There were also claims such as $2,800 to Wells Fargo, which has been settled, and a $19,000 claim from another creditor that was dismissed due to a lack of funds in the estate.
What remains for Aaron’s child?
Carter’s two-year-old son, Princeton, is the direct heir of the estate. Unfortunately, the financial situation means there is little of worth for him. Many of Carter’s possessions, such as his car collection—including a leased Cadillac Escalade and Bentley Continental—have been repossessed or ruled not part of the estate.
Attempts to generate funds by selling his belongings and his home in Lancaster, California have proven largely ineffective, bringing in only about $21,000 combined.
Family disputes and ongoing issues
The family of Carter remains involved in various legal disputes regarding the estate. Earlier this year, his brother, Nick Carter, issued a subpoena to access electronics belonging to Aaron at his passing, though the motives are not fully understood.
Furthermore, Carter’s ex-fiancée, Melanie Martin, has filed a wrongful death lawsuit against his medical team, claiming negligence; the accused doctors deny any misconduct, and the proceedings are still active.
Aaron Carter’s unfortunate situation highlights the complicated nature of estates and unresolved debts, even for famous personalities. The repercussions for his family continue to be significant, both financially and emotionally.
