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Rabu, 14 September 2011

Michael Jackson's mother and children to get $30m from estate

Image: Paris-Michael Katherine Jackson, LaToya Jackson, Prince Michael Joseph Jackson, Prince Michael Jackson II
Michael Jackson's mother and children are reportedly being given $30 million by the adminstrators of his estate.
According to TMZ, the late singer's co-executors John Branca and John McClain have made so much money from the Jackson estate since his death in 2009 that they want to give some to the Michael Jackson Trust.
The trust was set up to support Jackson's mother Katherine and his children Prince Michael, Paris and Blanket, in addition to a number of children's charities.
Branca and McClain, who have helped the estate generate more than $310 million in gross revenues as of December last year, are currently in the process of gaining permission from the court to make the transfer.
They are also asking for permission to sell the Jackson family home in Encino, California. Katherine reportedly wants to put the $4.15 million house on the market and then buy the Calabasas property where she is currently residing with her grandchildren.
In September last year, Michael's father Joe argued that his son's estate executors should be removed.
He claimed that he should have the right to dismiss any potential executors because he was financially dependant on his son during the popstar's final years and opposed an order that denied him any authority in carrying out his son's will.

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