rsw22
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- Jul 25, 2011
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Could someone please explain, what happens to Michael's Estate concerning 43% inheritance tax
Does that mean the Jacksons will be forced to sell his share of Sony/ATV so as to pay debts and inheritance tax, and then keep the Mijac only?
It sounds dodgy to me that after failing to break him by the trial, his death triggers him to immediately pay creditors and tax, which means he is then forced to sell a valuable asset so as to retain another.
Because if he has $331million debt and possibly about $100million or more of inheritance tax, as well as legal fees to be incurred, that means SonyATV has to be sold off and Sony will have first priority to buy it.
Or do the trusts that he formed protect this from happening, in that even if he has to pay inheritance tax within 9 months, that won't apply to the SonyATV share of assets.
Since $100 million has to be raised in 9 months to pay inheritance tax which seems illogical.
In addition, if Michael has to pay inheritance tax on Neverland, Barrack then can buy the entire ranch. I don't get this.
It may be why some Jacksons belive some element of foul play because with the tour, he would have cleared off the debts.
Does that mean the Jacksons will be forced to sell his share of Sony/ATV so as to pay debts and inheritance tax, and then keep the Mijac only?
It sounds dodgy to me that after failing to break him by the trial, his death triggers him to immediately pay creditors and tax, which means he is then forced to sell a valuable asset so as to retain another.
Because if he has $331million debt and possibly about $100million or more of inheritance tax, as well as legal fees to be incurred, that means SonyATV has to be sold off and Sony will have first priority to buy it.
Or do the trusts that he formed protect this from happening, in that even if he has to pay inheritance tax within 9 months, that won't apply to the SonyATV share of assets.
Since $100 million has to be raised in 9 months to pay inheritance tax which seems illogical.
In addition, if Michael has to pay inheritance tax on Neverland, Barrack then can buy the entire ranch. I don't get this.
It may be why some Jacksons belive some element of foul play because with the tour, he would have cleared off the debts.
