RULING LETS MJ'S MOM CHALLENGE ESTATE: Judge deals with provision in will that disinherits anyone who contests singer's wishes.(September 21, 2009)
*Michael Jackson's will stated that anyone who contests his wishes will be disinherited, but a court ruling announced Friday opens the door for his mother to challenge administrators of his estate without fear of losing her inheritance.
Judge Mitchell Beckloff ruled that Mrs. Jackson can argue against keeping attorney John Branca and music executive John McClain, the men currently administering her son's estate. But the arguments would have to be laid out in further motions that the he will decide on, reports the Associated Press. Beckloff's ruling clears the way for a possible hearing on whether the men were best suited to control Jackson's considerable estate. The pair has already brokered deals for a movie, books, museum show and various memorabilia that are expected to generate tens of millions of dollars. A provision of the singer's private trust — which gives his mother 40 percent of his assets — calls for anyone that challenges the will to be disinherited. But the ruling announced Friday allows her to raise concerns in court without fear of being cut off from his estate. "She will never lose her inheritance," her attorney, L. Londell McMillan, wrote in a written statement after Beckloff's ruling. "We now hope to resolve the outstanding administration matter, without further costly litigation, in the best interests of the beneficiaries which are Mrs. Jackson and her grandchildren." While Katherine Jackson's attorneys have not objected to most of the deals Branca and McClain have negotiated to date (including a $60 million agreement with Columbia Pictures for a movie using footage of Jackson's final rehearsals for a series of London comeback concerts and a subsequent DVD), Beckloff ruled over Katherine Jackson's objections that a planned exhibit of her son's items — including some of his possessions from Neverland Ranch — could go forward. Michael Jackson's music and merchandise has sold briskly since his death on June 25. The singer died in considerable debt, a fact underscored by creditor's claims that continued to be filed in his estate case. This week, two claims filed by Jackson's former hairdresser and a law firm totaled more than $243,000, and the singer was involved in several pending civil lawsuits when he died. Attorneys for Branca and McClain have repeatedly said they consider Jackson's estate solvent. Experts predict that it could eventually grow to be worth more than another music superstar who died unexpectedly — Elvis Presley. Speak Out
Currently, 2 comments have been made on this story.
|
... |
|
| Back to Top | ||