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Showing posts with label Will. Show all posts
Showing posts with label Will. Show all posts

Wednesday, August 5, 2009

Michael Jackson family seeks delay in naming will executor

Michael Jackson’s family wants a judge to delay the appointment of two men as temporary administrators of the pop superstar’s estate, a person close to the Jacksons said.

The family is looking for the delay so they can look deeper into his affairs, to see if another will emerges, and to accommodate Jackson’s memorial service on Tuesday, said a person close to the family who spoke on the condition of anonymity because the person was not authorized to speak publicly.

“It has been very insensitive, particularly to this family, that you would even schedule a court hearing on the status of the mother, the day before she has to go to the cemetery for her son,” the Rev. Al Sharpton, a friend of the Jacksons, said on ABC’s “Good Morning America” on Monday. “It’s almost insulting.”

Jackson’s mother, Katherine Jackson, was granted some limited powers over the singer’s estate days after his death. But because Branca and McClain are named as executors in the 2002 will, it’s expected that they would be granted more authority to oversee Jackson’s estate, estimated in court filings as being worth more than $500 million, in Monday’s scheduled hearing.

Entering into a business relationship with Michael Jackson rarely meant a long-lasting partnership. Over time, especially in the waning years of his life, Jackson hired — then fired — a litany of associates, from managers to attorneys to publicists.

Most were dispatched after the relationship soured, and the trust had evaporated.

Perhaps the one exception in his financial life was Jackson's mother, Katherine.

Jackson relied on his 79-year-old mother for more than emotional support: Documents show he put her in the position of trustee on contracts, including his lucrative Sony-ATV catalog, and associates say he also sought her input on other financial matters as he became more wary of those in his business circle.

"Any deal Michael did, he always called his mother up," said Steve Manning, a close friend of the Jackson family. "She was the backbone of his spirit."

"What he trusted was that she would make sure that his wishes were carried out," said Mrs. Jackson's attorney, L. Londell McMillan, who is representing her interests as the singer's estate is sorted out. "He understood that she was the most loyal person in his life. Her loyalty did not stop for Michael with merely personal matters."

But Jackson's last known will, drafted in 2002, left his mother, along with his three children, out of any decision-making role in his estate, leaving her only as a beneficiary.

Attorney John Branca and Jackson's former manager and close friend, John McClain, were named (along with a third party who has since removed himself) as the only people with the authority to guide his business matters after his death.

Mrs. Jackson is trying to change that, seeking to gain some kind of control over her late son's estate. The Jackson matriarch is adamant that she — or even another family member — have a role over Michael Jackson's business legacy, which may be worth more in death than when he was alive. Some estimates have valued his estate at $500 million.

Mrs. Jackson has filed a motion to determine whether contesting the two executors would lead to disinheritance — Jackson's will had a no-contest clause.

"She is concerned about how the trust is going to be managed. She wants to make sure that she has a seat at the table and the family has a seat at the table," said Dean Hansell, an attorney who spoke for Mrs. Jackson in court Monday. "She wants that and she has been coming up against resistance."

But in an interview with The Associated Press on Tuesday, Branca said he is amenable to having Mrs. Jackson, or someone in the family, in a trustee role.

"We are going to have a meaningful conversation with her about having one of her family members become a co-trustee," Branca said. "Our number one priority is to make sure this estate is run effectively."

Branca and McClain have control of Jackson's estate until at least Oct. 3. They have already made several deals on behalf of Jackson's estate, including a reissue of his memoir "Moonwalk" and a full-length motion picture filled with footage of his last rehearsals, which requires a judge's approval. In a sign that Katherine Jackson's input is already being considered critical, the judge has scheduled a hearing Monday to see, among other things, whether she has any objections.


Branca was Jackson's attorney for many years, working with him during the height of his fame and helping negotiate his deal to buy the Beatles catalog. But they split in 2005 until Branca was brought back shortly before Jackson's death as he prepared for his comeback concerts with the promoter AEG.

McClain has been very close with the family for decades, and was instrumental in building Janet Jackson's career. He also had played key roles in Michael Jackson's career in its later years.

Manning(Katherine Jackson lawyer) spoke highly of McClain, saying he has been "like a son" to the Jackson parents.

Legally, Mrs. Jackson may not be able to have an official role. Both Branca and Hansell said the addition of Katherine as an executor of the will or a trustee of the trust might raise tax questions because she is a beneficiary.

"She is a woman of great faith, and believes if you treat people right, (good) things will come back to you."

Jackson named his mother on at least two trusts — besides the Sony-ATV music catalog, she's a part of his Mijac publishing company — and McMillan said she was active in Jackson's business affairs, even attending depositions in legal cases.

Whether Mrs. Jackson has the business capacity to deal with Jackson's estate, which is complicated and tangled, is likely to be a key question. She and Joe filed for bankruptcy 10 years ago, listing nearly $24 million in debts that included court judgments, auto loans and credit cards. Court records show the only valuable asset listed was a house in Las Vegas then valued at $290,000.

McMillan said the role of a trustee does not require a person to be a business whiz.

"A trustee is one of trust as opposed to extraordinary skill," he said. "Trustees hire experts to administer business that requires experts."

Manning said Mrs. Jackson is confident that her legal team would do an excellent job with her guidance. He also raised the possibility that one of Jackson's five brothers could have a role in the estate: "That would be the right thing to do, the right thing to happen."

Legally, Mrs. Jackson may not be able to have an official role. Both Branca and Hansell said the addition of Katherine as an executor of the will or a trustee of the trust might raise tax questions because she is a beneficiary.

This July 5, 2009 file photo shows Katherine Jackson, left, and an unidentified driver entering the Jackson family home in the Encino section of Los Angeles. Los Angeles Superior Court Judge Mitchell Beckloff appointed Katherine Jackson as the permanent guardian of the late singer's three children during a court hearing in Los Angeles on Monday.


In this artist's drawing Katherine Jackson, right, and her attorney L. Londell McMillan are seen at the Stanley Mosk Courthouse on Monday Aug. 3, 2009 in Los Angeles.


FILE - This July 7, 2009 file photo shows Katherine Jackson, right, arriving with Michael Jackson's daughter, Paris, rear center, to the memorial service for the late pop star in Los Angeles. Los Angeles Superior Court Judge Mitchell Beckloff appointed Katherine Jackson as the permanent guardian of the late singer's three children during a court hearing in Los Angeles on Monday




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-Writer Lorraine Ali discusses Michael Jackson's legal woes, and his fans, with CNN.-

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--Michael Jackson after dying is transported via helicopter from UCLA hospital too the Coroners Office for an autopsy..

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Wednesday, July 22, 2009

Studios Scramble to Bring Jackson “This Is It” Rehearsals to Theaters






Negotiations are reportedly underway between most of the major movie studios to secure the distribution rights to a film based on Michael Jackson’s rehearsals for his planned This Is It concerts, the AP reports. According to the AP, executives from Sony, Paramount, Universal and 20th Century Fox were all shown rehearsal footage, and Sony Corp. reportedly offered $50 million for the distribution rights. Sony appears to be the likeliest destination for the film, as the company already distributes Jackson’s catalog and has a 50/50 stake in the Sony/ATV Music Publishing deal with the Jackson estate. Footage of Jackson and his dancers performing “They Don’t Care About Us” during rehearsals was previously unveiled.

Whoever wins the bidding war will produce the film along with AEG Live — the concert promoters staging the This Is It concerts, who filmed Jackson’s rehearsals at Los Angeles’ Staples Center — as well as the Jackson estate. The high bid seems to back AEG Live CEO Randy Phillips’ claims that Michael was in good health during the rehearsals.

Additionally, AEG Live is also reportedly in talks to turn the This Is It concert into a TV special directed by Kenny Ortega, which could be the rumored all-star tribute discussed in the weeks following Jackson’s death. NBC is reportedly the front runner to acquire the television special with the price somewhere in the tens of millions. As Rock Daily previously reported, 31 million viewers watched the Jackson memorial on TV and roughly 30 million more streamed the video online during its Tuesday afternoon simulcast, suggesting a TV special would likely produce just south of Super Bowl numbers.

According to the AP, John McClain and John Branca, the two men named as executors in Jackson’s 2002 will, have been working quickly to secure deals for assets like the This Is It recordings in order to take advantage of the recent spike in Jackson-related sales. Since the King of Pop’s death, Jackson’s albums and compilations have surged up the charts from relative dormancy, and MTV reported yesterday that Jackson’s Thriller is on the verge of usurping the Eagles’ Their Greatest Hits (1971-1975) as the highest-selling album of all time.

McClain is reportedly also digging through Jackson’s vaults of unreleased material, a treasure trove that features songs like “A Place With No Name”, a portion of which leaked last week.


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Thursday, July 2, 2009

Michael Jackson Funeral





Michael Jackson Funeral.


Everyone's speculating on Michael Jackson's funeral. We know three things for sure.

-- it won't be until next week
-- it will not be at Neverland
-- it will be in the L.A. area, and the Staples Center is an option but it hasn't been decided.
.
Beyond that -- the family still hasn't made its decision

Michael Jackson's family will not hold a public or private viewing of his body at the Neverland Ranch, a spokesman for the family said Wednesday.

Jackson placed his entire estate, which he estimated to be worth at least $500 million, in the Michael Jackson Family Trust, which was described in another document not filed in court.

Planning had been under way for a motorcade to carry Jackson's body from Los Angeles to the Neverland Ranch in Santa Barbara County, California, which state and local officials suggested would be difficult and costly.

The mother of Jackson's two oldest children was left out of Jackson's will."I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson," the will said.


The children -- ages 7, 11 and 12 -- have been placed under his mother's temporary guardianship.

Jackson attorney John Branca, attorney Barry Siegel and John McClain, a music industry executive and longtime Jackson friend, were named as executors of the will.

Los Angeles Superior Court Judge Mitchell Beckloff held an emergency hearing Wednesday morning to consider a request to immediately turn over control of the estate to Branca and McClain.

Branca and McClain issued a joint statement Wednesday: "The most important element of Michael's will is his unwavering desire that his mother, Katherine, become the legal guardian for his three children. As we work to carry out Michael's instructions to safeguard both the future of his children as well as the remarkable legacy he left us as an artist we ask that all matters involving his estate be handled with the dignity and the respect that Michael and his family deserve."


Jackson's hometown of Gary, Indiana, angled to have its favorite son buried there and planned a massive memorial service at a local ballpark in July.

Gary Mayor Rudy Clay told a Chicago, Illinois, radio station Tuesday that he has been in contact with the Jackson family about the burial.

A burial site could be near a proposed Jackson family museum and a performing arts center, said mayoral spokeswoman Lalosa Burns, who said Clay hadn't received any confirmation.

Clay told WGN that he expects Jackson's body, at the least, will be taken to Gary for a July 10 memorial service at U.S. Steel Works ballpark.
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