A Las Vegas judge has granted Jarel Posey, more commonly known as Jarez Posey, the responsibility of managing the estate of Coolio.
Radar was able to gain access to the court documents confirming this decision.
The court greenlighted Jarel's appointment as special administrator of Coolio's estate.
He handles all financial responsibilities, including collecting residuals arising from the late rapper's work.
As early as December, Coolio's manager had petitioned for administrator rights over the estate, estimated to be worth about $300k then. It will only be known when Jarel has finished his inspection and tallying of assets.
Without a will left behind, Jarel presented his petition requesting to be named to administer Coolio's estate.
Citing the need to protect the musician's assets, including demand deposit accounts, financial accounts, insurance policies, and royalties, Jarel listed Coolio's children as beneficiaries of the estate. He asked to be appointed for "marshaling and protection" of the remaining personal property.
Coolio's manager petitionned the court to grant him access and authority to withdraw funds from Decedent's personal property and accounts. These would then be stored in the attorney's IOLTA Trust Account until further notice. The judge saw fit to accept Jarel's requests without hesitation.
In the wake of Coolio's passing, his death certificate revealed that he was cremated. Those close to him paid tribute to him following his demise; Sheila Finegan, Coolio's talent manager, proclaimed, "the world has been touched by the gift of his talent and will be deeply missed."
She said, "Thank you to everyone worldwide who has listened to his music and to everyone who has been reaching out regarding his passing."
"Please have Coolio's loved ones in your thoughts and prayers."
News of the rapper's manager about to control his estate comes after rumors that his seven kids would be inheriting it.
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Coolio Cause of Death
Fentanyl has been revealed to be the cause of Coolio's death. Tragically, this is not a unique story, as Prince, Tom Petty, Mac Miller, and countless others have also suffered from fatal overdoses of the same drug.
The family received confirmation from the medical examiner that fentanyl had taken Coolio's life.
His family spokesperson has revealed that Coolio succumbed to his illness due to a combination of factors.
Namely, a life-long asthma condition combined with his enduring love of smoking cigarettes weakened his body's ability to fight against the disease.
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