After no will was found, the fate of Coolio's earthly possessions hung in the balance after his untimely passing. However, reports indicate that the court appointed control of his estate to his longtime manager Jarel "Jarez" Posey. According to RadarOnline, a Las Vegas judge approved of Posey's petition of access to the "Gangsta's Paradise" MC's assets. More specifically, the court appointed him as a special administrator, meaning that they now tasked him with collecting residuals and taking charge of the estate's financial matters.
In Posey's petition, he took note of the fact that the estate was divided between his children due to lack of a will. However, he wanted to obtain appointment as executor to avoid "waste and/or loss of the personal property of [Coolio]. Specifically, the estate is believed to include personal property and demand deposit accounts, financial accounts, insurance policies and royalties, all of which need to be marshaled and protected on behalf of the estate." In his opinion, the court must allow him to "access monies from Decedent’s personal property and accounts and the same shall be placed in the attorney’s IOLTA Trust Account until further ordered by the Court."
Coolio's Estate Entrusted With His Longtime Manager
According to the court documents in question, authorities approved all of Posey's requests. With his proximity to Coolio in mind, the decision to entrust the estate with him is understandable. Despite that, questions arose when it comes to what his children will receive. Furthermore, it was Posey who told TMZ of the coroner's report concerning the California rapper's tragic loss. According to the medical official, he had a mixture of fentanyl, methamphetamines, and heroin in his system. Additional reports concerning the circumstances of his passing only make it that much more somber.
Still, Coolio's legacy will live on far beyond his death, whether through his loved ones or his music. In fact, following his first posthumous release, fans are anticipating his posthumous album, LONG LIVE COOLIO. Reportedly, features on the full-length project include Treach of Naughty By Nature, Too $hort, and others. With that in mind, return to HNHH for the latest news and updates on Coolio.
