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Katherine Jackson Removed As Administrator Of MJ's Estate

Where did yall get this 40/40/20 breakdown? I didn't here that from anyone except Nancy Grace and how would she know that when details of the trust have not been revealed?

And I don't think that Katherine is gonna get this trust turned over to her. I believe that Branca and McClain are gonna be managing this thing until those kids are either 18 or 30. Then they will either retain them or get their own lawyers and manage their own money.
 
Didn't Branca sell MJ is 5% of Sony/ATV a few years back.

I don't know who approached whom, but at that time, I thought that was a good look by Branca. I mean, MJ gaining that 5% "most likely" put him in a better position refinancing wise.

Does anybody remember that time period, when Branca sold his 5% back to MJ?
 
This is why he was killed. Watch what they take and watch what the family gets. Also The next act will be Debbie gets the children. This is all by design.
 
AllTheLovelyFlowers said:
Where did yall get this 40/40/20 breakdown? I didn't here that from anyone except Nancy Grace and how would she know that when details of the trust have not been revealed?
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I've seen that quoted several places. One article mentioned it was leaked. I'm not sure I trust the figures.
 
Ok, I was gonna approve this shit until I read about the BS letter MJ wrote 8 days before he died. I'm sorry but that is some shit poop crap poo dump caca. Who writes such a letter 8 days before they die.

My sis has been telling me since June 25th that Mike was murdered, now I'm convinced Mike was murdered.

So may questions, no answers (the shady doctors, two shady managers, shady bodyguards, shady caretakers, shady managers). Where were these two parasites (Branca and Mclain) when all the drama happened? They killed Mike.
 
Originally Posted by vstreet
These people will never do right by Michael

This is just terrible.

I forsee a future where Michael's true legacy will be covered up by OVER commercialized BULLISH that will be put out by money hungry parasites who will suck every drop of blood from his tomb.

Michael did not have the best judgement when it came to picking people. It is a shame he chose who he chose before his murder -- YES, I said it, he was murdered IMO.


This is simply tragic.

Mark my words, this should have never happened.
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Thats Exactly Right!
 
I don't know what to make of this. I can understand how katherine feels. There are so many questions on what happen that the family doesn't trust anybody right now. Which is why to ruling is hard for her. SIGH I just hope and pray we didn't lose michael to shadyness! Ugh! I still can't believe this! Im living it but I'm not believing it!
 
markmark11 said:
Guys, relax...

the 'will' clearly states MJ left his estate to his mother & kids, and 20% to (charity none specified).
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I'll tell the truth. The will gave them full access to do as they please and take whatever decision they feel necessary if Michael's wish is granted. For example: They can sell everything for $100, then Give the mother $40, kids $40, and the charity $20. They can do just that. He had more than simple trust in these two; that kind of trust is only reserve to be shown to God only. He must have been extremely mad, hurt, at the time of making the will.

They never wanted a BLACK person to own such a catalog, they won.
 
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I find the fact that Michael signed a letter 8 days prior to his death approving Branca rather unsettling.

I'm not one to jump on the bandwagon of conspiracys but this sounds dodgy.

What was the reason Branca was fired in the first place? Anyone?
 
Actually, I agree with the courts decision in regard to the estate. Michael named both Branca and McClain to be the executors of the estate and I think his wishes should be honored. These men have also handled other entertainment estates as well. I think it's in good hands. I love Katherine, but I'm too afraid her other children will try to influence how any money should be handled. Don't think that Joe and some of MJs siblings aren't furious about being left out of the will. They need to get off their behinds and go to work! The only thing I want is for Katherine to have custody of the children according to Michael's wishes. I'm also sure that is where the children would want to be as well.
 
I find the fact that Michael signed a letter 8 days prior to his death approving Branca rather unsettling.

I'm not one to jump on the bandwagon of conspiracys but this sounds dodgy.

What was the reason Branca was fired in the first place? Anyone?
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It is very dodgy; notice how the media is keeping everyone destracted with "debts" "pills" and now "pedophile" accusations.

Read the book: The Hidden Persuaders by Vance Packard

Lets see what he does, however when the family gets the short end of the stick you will see this has all been arranged.

The Doctor (A Cardiologist) on the job a few weeks.:no: MJ is said to have "died from Cardiac Arrest?"

The Lawyer & "friend" John Branca 8 days.:no: Now controls SONY/ATV


This is so wrong.:no:



Remember James Browns Friends and representatives?

http://chronicle.augusta.com/stories/121907/met_177340.shtml

Cannon gets contempt charge
Judge frowns on failure to pay James Brown estate, other violations
By Johnny Edwards| Staff Writer

Wednesday, December 19, 2007




http://buzz.yahoo.com/article/augus...e.augusta.com/stories/121907/met_177340.shtml

James Brown's former accountant has been charged with contempt of court, and unless he forks over $433,000 he could be locked up in a state prison for six months.

David Cannon: Former accountant for James Brown is accused of mishandling $7 million, and won't say where it went.

David Cannon said he doesn't have the money, so he'll probably be going to jail. He said the ongoing legal mess shows that the South Carolina judicial system is broken and that Mr. Brown's plans to educate needy children are being ruined by attorneys feeding at the trough.
"What Mr. Brown wanted is not going to happen, if they have their way," Mr. Cannon told The Augusta Chronicle on Tuesday in a rare public statement. "His legacy is being destroyed."
According to a court order signed Tuesday by Aiken County Court of Common Pleas Judge Jack Early, Mr. Cannon is being punished because he:
- Did not pay $373,000 to Mr. Brown's estate, as ordered by the judge in September
- Did not keep his hands off the Brown estate, even after he had resigned as a trustee. He had filed amended tax returns for James Brown Enterprises. Mr. Cannon testified in November that if the changes hadn't been made, the estate would have lost $39 million.
- Did not turn over financial documents dating back to 1999. He turned in more than 35 boxes, taken from file cabinets boxed without indexes, later testifying that he had never done an accounting for probate purposes and didn't know what it involved, the order says.
Mr. Cannon has until Jan. 25 to pay the $373,000, plus $50,000 for attorneys' fees and a $10,000 fine. Otherwise, he can report to the Aiken County jail that day at 12:01 p.m., the judge ordered.
Mr. Cannon was one of three men the funk and soul performer designated to oversee his estate after he died. Mr. Cannon, Alfred "Judge" Bradley and attorney Buddy Dallas were to oversee two trusts -- one to school needy children, another to educate his grandchildren -- funded by proceeds from his music rights, legacy and persona.
Six heirs named in his will were to divide up his household belongings, but after their father's Christmas Day death, they petitioned Aiken County probate court to remove the three trustees, alleging that they mismanaged the estate.
All three men have since resigned, and the two South Carolina attorneys Judge Early named as special administrators to the estate -- Adele Pope and Bob Buchanan -- have become the new trustees. Mr. Dallas and Mr. Bradley, however, have retracted their resignations, saying the judge used "improper judicial influence" to intimidate them into quitting.
Mr. Cannon has been accused of mishandling $7 million of Mr. Brown's money, but he said Tuesday that his only mistake was misdirecting a $900,000 royalty check in July 2006.
The check should have gone to pay off a $26 million bond against future royalties that Mr. Brown took out in 1999, but Mr. Cannon said he placed it in Mr. Brown's trust fund.
The singer paid him $350,000, then apparently spent the rest himself, Mr. Cannon said. That's why Mr. Cannon handed over $350,000 when he resigned as a trustee in August, he said.
Judge Early wants him to pay $373,000 toward the balance. When he told the judge in November that he didn't have the money, the judge expressed doubt because Mr. Cannon had recently paid a contractor $866,000 to build a home in Honduras and had purchased the lot for $223,000.
Mr. Cannon said that money came from the sale of another property and it's his wife's money. He said he offered the court a second mortgage on his South Carolina beach property but was refused.
Mr. Cannon would not address questions from The Chronicle about where the bulk of Mr. Brown's money went.
Judge Early's order says he "does not find David Cannon credible," based on the Honduras contract and his earnings during the past seven years. He made more than $1 million in 2006 and no less than $169,000 a year since 2000.
"Their minds are already made up before they even ask the questions," Mr. Cannon said. "They've had all these accusations, but nobody's even looked at the books."
Reach Johnny Edwards at (706) 823-3225 or johnny.edwards@augustachronicle.com.

 
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sunnyday81 said:
Whatever is best for Michael's estate I guess. If Michael wanted them to be in charge, fair enough... He did that 8 days before though, wow!
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sorry that the decision came a day b4 the memorial.. but for such a large estate and for such a large family with varying wants/needs and personalities.... Michael knows why he chose these 2 to manage his estate...
 
I'm sorry ya'll but I'm kinda slow and this thread is going way over my head!

I'm getting confused cuz sum replies seem to contradict each other, so can someone tell me:

1.What's in Branca's letter that makes it sound suspicious? I mean Mike always hand over things like POA and other important legal matters to someone, whats the big deal?
Also, how ya'll don't like Branca? I thought he and Mike got along. Mike fires and rehires peeps all the time.

2. Why are peeps bringing up the catalogue, I thought it belonges to the kids now and can't be touched?

The rest of the stuff I got, but help me out with this. Please:cheeky:
 
MrsMJ2007 said:
Actually, I agree with the courts decision in regard to the estate. Michael named both Branca and McClain to be the executors of the estate and I think his wishes should be honored. These men have also handled other entertainment estates as well. I think it's in good hands. I love Katherine, but I'm too afraid her other children will try to influence how any money should be handled. Don't think that Joe and some of MJs siblings aren't furious about being left out of the will. They need to get off their behinds and go to work! The only thing I want is for Katherine to have custody of the children according to Michael's wishes. I'm also sure that is where the children would want to be as well.
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And the only thing that is important here is Michael's wishes. You are so right. The way I see the 8 days thingy is like this....Michael probably knew he was gonna die. Just because he was going on a tour doesn't mean he didn't have a preminition on this. He had stated before that he felt some people were trying to kill him. He probably wanted to get things in order for his kids before he left for overseas.

I think you guys are worrying about Branca and McClain for naught. These men can only do what Michael outlined in his trust and that is exactly what they are gonna do. And the judge has reinforced that by requiring them to check with the court for approval before they do anything. This was done to give Katherine and her legal team assurance that they will carry out Michael's wishes as outlined in the trust. And this scenario will only last until P, P and B are grown enough to take over their own affairs. I am sure of it. And if Branca and McClain do a good job, the kids may decide to keep them.

Don't worry, Branca and McClain are not gonna get away with anything.
 
I just do not know what to think of all of this. It's unsettling and upsetting to say the least. My thoughts and prayers are with the Jacksons at this time.
 
His estate needs a person that gives a shit about his legacy... I dont care for Priscilla Presley personally but she did right by Elvis. She controlled all his shit with conviction and smarts. Michael's Estate needs a person that has that same conviction for him.
 
I hope Michael knew what he was doing, a letter 8 days before he died is worrying, I hate to say it but how many pills had they fed him before putting that document under his hand to sign.

The Jacksons should be involved, these lawyers could take a backhander to sell Neverland and the catalogue without the Jackson's approval, they have nothing to loose.
 
hilliver said:
I hope Michael knew what he was doing, a letter 8 days before he died is worrying, I hate to say it but how many pills had they fed him before putting that document under his hand to sign.

The Jacksons should be involved, these lawyers could take a backhander to sell Neverland and the catalogue without the Jackson's approval, they have nothing to loose.
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Damn I was just thinking what I bolded above...
 
suddenly this report from the fans has a new meaning.

sometime last week michael called one fan in the studio and told her what's written above.* so the article IS true with the exception of "....and take the tour around the world to other cities, not 50 in one place. " i don't thik he said that part.* but everything else about the additional 40 dates and not eating enough is true.* then he called the rest of us and told us the usual 'i love you' stuff followed by a little vent about the shows.* he was upset because some fans voiced their concern about the lack of standing room and he pointed out how he's doing this for us and he wants to do it how we want it, but he said that "the dates and seating were all done w/ out my consent".* (at which point, i'd like to add that he almost started to cry, he actually kinda did but was interrupted by us. -* obviously he's very sensitive to the fact that we're all getting screwed & are not very happy.).* anyways, he said he would do what he can with the seating/ standing section.* also, he was suposed to have a show every other night, not have gaps.* like the 3 months in between.* no one told him about all this until tickets were already on sale.* surprise, surprise!* i think we all kinda sensed that.*
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and the response from AEG/Randy Phillips now seems to send an ominous message to Michael ...

"The concerts, Phillips acknowledged, are a do-or-die moment for Jackson. "If it doesn't happen, it would be a major problem for him career-wise in a way that it hasn't been in the past," he said."
 
MJJChichi said:
His estate needs a person that gives a shit about his legacy... I dont care for Priscilla Presley personally but she did right by Elvis. She controlled all his shit with conviction and smarts. Michael's Estate needs a person that has that same conviction for him.
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In MJ case, with all these business partners, lawyers and everyone hands dippin in the cookie jar it just makes things that more complexed. These lawyers only care about what in it for them and the all mighty $. I question their concern for MJ's best interest let alone his legacy. It's really too bad he could not have had a loving wife to pass his estate to, and see to it that his legacy is protected, once he died.
 
MJJChichi said:
suddenly this report from the fans has a new meaning.



and the response from AEG/Randy Phillips now seems to send an ominous message to Michael ...

"The concerts, Phillips acknowledged, are a do-or-die moment for Jackson. "If it doesn't happen, it would be a major problem for him career-wise in a way that it hasn't been in the past," he said."
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Lord, all the stress Michael was under!! Horrible and just not right. Reading these things makes me so sad. And reading the more conspirational stories about his death just makes me sick in my stomach. Michael, I hope you are feeling free now.
 
MJJChichi said:
suddenly this report from the fans has a new meaning.



and the response from AEG/Randy Phillips now seems to send an ominous message to Michael ...

"The concerts, Phillips acknowledged, are a do-or-die moment for Jackson. "If it doesn't happen, it would be a major problem for him career-wise in a way that it hasn't been in the past," he said."
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Damn reading that brings tears to my eyes. Poor Michael. AEG did not even consult with him with regards to the seating and other arrangements. I do not trust that AEG Phillips guy either; he, along with these two attorneys who had Michael write a lette 8 days before he died giving them full control over his estate, seem suspect to me. Something is amiss in this whole situation if you ask me. As some others have said "I smell a rat".
 
John Branca is a longtime friend and has MJs interest at heart. Branca got MJ the Beatles deal. Katherine is still involved per request of judge.

So John Branca is in charge of Michaels new album!
 
Branca is gonna make sure that Michael's legacy is protected and that his assets are properly transferred to those kids. You guys know that it was Branca who made sure that Michael had trust funds in place for his kids while he was going through that trial. Tarborelli said so. Not that I believe all that he says, but hey. Branca has done nothing but good for Michael when it comes to financial matters.
 
I did find it ironic to hear Tommy Mottola praising MJ on Larry King right after he died... it seems that something is really going on here...
 
I hope that Michael's kids get the best education that there is so that they can protect their fathers assets. I hope they will be the ones to take over the estate of their father and protect his legacy. That is what the Jackson Family should be teaching them now. I hope the sense of business is instilled in them... And I hope they learn the world "NO".
 
Im trying to understand this.

Okay. God forbid, but what if something happens to Katherines health before the kids turns 18. Who will get her 40% stake? The kids? But if the kids are still under 18 etc they can't object any new buisness venture, so the co-executors are free to go or what?

I just hope and pray that Branca will NOT try to fuck up the Sony/ATV catalogue. Michael has protected it from devil ppl throughout the years and it should keep be protected within the family.
It just make me feel sick to think about if they try to sell it to pay off his debt or whatever lame bullshit excuse they will come up with.
 
Vici said:
Okay. God forbid, but what if something happens to Katherines health before the kids turns 18. Who will get her 40% stake? The kids? But if the kids are still under 18 etc they can't object any new buisness venture, so the co-executors are free to go or what?
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If Michael specifically included a residuary clause in his trust, then whoever he designated should get it. If not, it will probably fall to California's intestacy laws. Spouses and children are usually first in line in intestacy, and since he was not currently married I'm guessing his kids would get it. I'm no expert, though...
 
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