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With no will in place to dictate the future of Prince’s estimated $250 million estate, the singer’s ex-girlfriend and bandmate Sheila E. hopes to step in with a guiding hand.

“Sheila is concerned that [Prince’s death] will result in exploitation for profit by people who may have been seeking personal financial gain from him while living and may now see the opportunity to do so in his untimely death,” her rep tells PEOPLE.

Known for her hit record “The Glamorous Life”, the singer and percussionist, 58, spoke to PEOPLE shortly after news broke April 21 that her former love and longtime collaborator had died.

“He was my friend. I’ll remember him as my friend – someone that I loved very dearly,” she said.

Source: People