Jackson's Will In Review
Filed under: Michael Jackson
Though a last will and testament for Michael Jackson has surfaced, it is still unclear if the 2002 document is the most recent draft.
However, there is a push from Jackson's lawyer to file the paperwork as soon as Thursday, so that the singer's family is properly taken care of as well as have his debt handled.
The will dictates that his estate be divided between his three children, his beloved mother Katherine Jackson, and various charities. In this version, nothing was left to his father, Joe Jackson. But the division of assets could help fix a lot of the reported $500 million debt left by Michael, as if they belong to Katherine, the selling of them will be much easier.
For example, someone else would easily hold onto Michael's 50% stake in Sony/ATV Music Publishing, a joint venture with Sony Corp, believed to be his most valuable asset. The stake is collateral for a $300 million loan and when sold, most likely back to Sony, a huge weight will be lifted off the debt.
Unfortunately, according to the lawyer for Michael's parents, neither of his clients have seen the will: "No will has been presented to family or us. We will review any will when we see it."
This is sure to be one hell of a messy battle for all!
[Image via WENN.]
Not a sane Jackson in the bunch.
PEREZ, THIS WILL SURELY KEEP YOU BUSY FOR MONTHS. THIS IS GOING TO BE THE ULTIMATE DRAMA THAT NEVER ENDS!!!
you and your followers are some azzholes
Pursuant to California law, no one will receive a part of the estate until all the creditors have been paid. And, with his debt load, I'm not sure there will be anything left to distribute.
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It's no secret that Michael was NOT a fan of his Dad.
So why are his kids living in the same house with the jerk who abused Michael for years?
Re: jimmyjazz –
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# 2 Amen!
And for every other news outlet world-wide!
Perez you are beyond FULL OF SHIT!
Why don't you show a little respect for the children and stop reporting information regarding them. They just lost their father and probably the only person who genuinely loved them and cared for them.
Not only are you feeding the public information on the children that shouldn't have been divulged but you are feeding the frenzy that will probably surround them for life.
WHAT ON EARTH IS WRONG WITH YOU!
Children should not be dragged in to a divorce or a death by the public, focusing on them is WRONG considering they are CHILDREN and not ADULTS. They did NOT make a choice to be in the entertainment industry or in the lime light, their father did…so quit publishing stories about them. It's wrong.
Who cares how much he was in debt…the man is dead
I h8 you, you fat fuck.
If they just put the Beatles catalog up for sale that would probably solve a huge portion of the debt problem. Or not, in this economy….
Good.
ha ha ha abusive daddy doesn't get a piece of that pie…good for you, michael
ALL THE SKELETONS IN MJs CLOSET WILL BE EXPOSED… THEY ARE ALREADY STARTING TO CREEP OUT NOW. (1) KIDS NOT REALLY HIS - NEVER ADOPTED (2) DEBT OF $500 MILL (3) DRUG ADDICTION … ETC..
KIND OF LIKE A MOVIE.. A "THRILLER" KIND WITH DRAMA INCLUDED.
Is there actually a decent member of the Jackson family out there?
What a mean, greedy, heartless bunch they seem to be.
Michael was just a meal ticket to them all.
His father doesn't get anything! Hahahahaha! I miss him so much! I love you Michael and he will forever live in our hearts and will forever be missed. His music, will also, live on forever.
Bologna… the will was immediately requested and shown.
Feel like just chillin' out with you tonight, b. Make some dinner, watch some TV and relax. Ymi
Hey everyone.
I just made a profile like 10 minutes ago; I've never been on this website. But I'm a HUGE Michael Jackson fan; his death is beyond tragic.
But leave Perez alone … this is his JOB. If you don't like him, or what he talks about, then don't get on these kind of websites. Duh. None of you know the Jackson family personally, you only know what you've been told. As far as his children are concerned, that IS a private matter, but everyone is curious. Their business is ALWAYS going to be public. This information about their custody is going to be in the public's grasp sooner or later.
Perez, thanks for the updates, and for doing your job.
Perez, you shouldn't write about Michael Jackson until you apologize for accusing him of faking his death in the first place. Take responsibility for what you've said.
I wish someone would stop the circus and just think of his beloved children..that is all that matters now. RIP MJ