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.]
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