yes one of the documents said "making the estate profitable for generations to come". now for a moment let's put all emotions to side and think rationally.
michael jackson's estate is not a regular estate / inheritance that consists of simply some properties and certain amount of money (for example elvis, cobain estates are quite regular). All the money and assets aside MJ's estate has 2 companies (MJJ productions and MJ Kingdom) and 2 music catalogs (SONY/ATV and Mijac). And believe me when I say this can't be managed by a regular person, you need to have professionals.
Now there's no way that we can know whether his kids will have the ability or will be willing to take on such a task. you would not want to leave this job completely to them either - how many times have we heard heirs spending all the inheritance or bankrupting the business just because they don't have the ability or knowledge (or just reckless) to run such a business. yet at the same time I agree with you and think that michael would not just give them an allowance. so I'm actually thinking about a combination scenario where the kids get to have a seat / have voting power/ become an executor when they turn 21/25 with the professional executors. when I think rationally this is the best of 2 worlds - yes you give them increased power over their fathers estate but yet keep professionals involved to ensure that this estate will indeed be able to provide for generations to come..
for the second part as far as I remember the will allows executors to determine their successors. so Mccain always do that.
I remember that the executors get to do that, but that doesn't mean that McClain gets to do that, especially if he died suddenly. I have only read in a couple of places that he was seriously ill. How ill? What does that mean? He may just always be chronically ill. I really can't tell, but I am just guessing it is serious or something that can't be hidden or it wouldn't be mentioned. As I remember, Johnny Cochran kept his brain tumor hidden, not uncommon. There haven't been any pictures of him that I recall. I could have missed them.
Has anyone seen any pics of McClain? Thanks in advance.
Perhaps noone would be required to refill McClain's position. Almost as good as owning it for Branca.
"Now there's no way that we can know whether his kids will have the
ability or will be willing to take on such a task." Now that is a valid point, but people & firms that manage those things can be hired & fired if the kids have direct control.
Merv Griffins son is having difficulty with his executors & has an allowance - his claim is that they are losing the value is my understanding from what I briefly read - & the estate's argument was the will was uncontestable.
"yet at the same time I agree with you and think that michael would not just give them an allowance. so I'm actually thinking about a combination scenario where the kids get to have a seat / have voting power/ become an executor when they turn 21/25 with the professional executors. when I think rationally this is the best of 2 worlds - yes you give them increased power over their fathers estate but yet keep professionals involved to ensure that this estate will indeed be able to provide for generations to come.."
That could be a possibility.