Monday June 29, 2009 6:18 pm
Legalities and Mystery Shrouds Michael Jackson’s estate
At the height of his career in the late 80s, when he was doing commercials and worldwide tours for huge audiences, Michael Jackson was truly the King of Pop. It was reported that the singer was worth around $2 billion US - not a bad little bit of change.
In the wake of Jackson’s death, however, it’s much harder to pin down a figure. As of right now, the size of Jackson’s estate remains largely unknown. It was reported recently that the singer still had around $350,000, while other sources estimated Jackson at closer to $800 million. Some reports even suggest that Jackson was actually in debt - one news organization says the amount could reach up to $500 million.
Who will inherit the burden or largesse, such as the case may be? This, too, remains a mystery. Early reports and court documents filed by parents Katherine and Joe Jackson suggested that Michael died intestate (without a will), but a lawyer has stepped forward to refute these claims.
Read More | E! Online
E! is reporting that Katherine and Joe are currently caring for Jackson’s three children (Michael Joseph Jr., Paris-Michael Katherine and Michael Jackson II). Katherine recently took them to Jermaine’s estate, perhaps for a day of play with his six children. She has officially petitioned for temporary custody, which was granted. A hearing is scheduled for July 6 to determine whether or not this will be a permanent decision.
Debbie Rowe carried and delivered Michael Jackson’s two oldest children, becoming pregnant with both via IVF (in vitro fertilization). You can read Debbie’s story here. It has never been revealed whether or not the sperm used to fertilize these eggs was actually that of Michael Jackson, though many have speculated that this is rather unlikely considering the strong Caucasian look of the children. Jackson’s youngest child, nicknamed Blanket by the media, was the result of an unknown surrogate mother.
In light of the recent will confusion, no ruling has yet been made on the ownership of Jackson’s estate. Though Katherine and Joe filed to be granted control of this estate, the hearing is not scheduled until August 6. If their claims are true and there is no Michael Jackson will, the matter of the estate will be settled by California state law. This means the estate, such as it may be, would be divided equally among the three children. A court-appointed executor would oversee this.
TMZ is reporting that this may not be the case, however. Attorney John Branca apparently has possession of the document, which he will legally file in court in upcoming weeks. Branca says this will is the most current. He was re-hired by Jackson, after a 2006 falling out, just three weeks ago.
Meanwhile, questions still linger in the singer’s death. TMZ is also reporting that evidence increasingly points to drug abuse. They previously reported that Jackson had receiving an injection of Demerol shortly before his death, and now the site is suggesting that Jackson had other drugs on board as well. Full toxicology reports may not be available for several more weeks, and the LAPD still considers the Jackson death an active investigation.
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I know everyone has cracked jokes about him for the better part of 15 years now, but it's sad that he's gone. I remember busting out moonwalks as a kid.
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Pity he died! Jackson was a unique music phenomenon! There are no other singers like he! Too pity!
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How about the goss that hes ghost showed up??? OMG< let him RIP
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He was a dear person. A sensitive young man, a poet. As much as we will miss him, I?m glad my family has many records, cds, and videos of some of his electrifying performances. Mike was a true star! Rest in peace Michael Joseph Jackson. thanks for sharing all links with us.
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the world had mourned when he died. the world turns around when he died. long live MJ. even though its over now you will be in our heart forever.
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An important chapter in the music history ended with his death,he was a good human being, it is sad that he had go through brutal media trials in his life...he will be surely missed...RIP.
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I am a huge fan of MJ's Dancing and Singing. He was Legend. I am very much upset .. I cannot believe that now he is not with us.
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He was a legend, we lost him but he was a academy for dance and music for all he was best
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Good to hear that. I was looking for the same kinda link, I am biggest fan of Michael Jackson. thank you very much....
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Michael Jackson is great man, I love his all songs. When I came across his history, I realized that he is great fighter in his life.
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