Muumi
Proud Member
I agree...enough is enough of this garbage!
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Katherine Jackson: Statement About Attorney
- Thread starter MsMo
- Start date
I agree...enough is enough of this garbage!
Soso Deaf
Proud Member
ask gaz on this one. cuz honestly, his family has a crappy track record. all im saying is she loves her kids...all of them so if one is doing soemthing that's wrong and wants to getmoney, she'lllisten and no know she's being manipulated.
Soso Deaf
Proud Member
*sighs* did u read between the lines? aeg has to make $135M of profit before the family gets any of that glorious 90/10 deal...hence the reason it's only out for two wks.
the executors want to keep the catalogue cuz it means guaranteed long-term income for the children. some others speculate the family wants fast results as in money now who cares about later.
shimar
Proud Member
Do we have the same brain or were we separated as twin babies - cuz DAMN - we think ALIKE.
I hope and PRAY that Michael's spirit - which is NOT at rest - is next to his babies 24/7 as he was in life, taking care of them, guiding them, teaching them.
I know MJ is working with all the magic he possesses in the Afterlife to care for his kids and will make sure NOTHING will harm them.
Even from their own family.
The only thing that MJ taught them was LOVE and RESPECT.
I know & feel it in my gut that MJ taught them about greed and how some people - even family - can work against you. I know that MJ prepared the babies well for that.
MJ was too smart and too good a parent not to teach them.
But let's see what happens. I'm confident on Mike Jr.'s leadership skills. I'm also confident on Paris' leadership skills. Blanket is too young & scared at this moment - and I know that MOM & DAD for Blanket is Paris & Mike Jr. at this time.
Soso Deaf
Proud Member
really? cuz judge's always follow the law? like melville right? and how he was buddies w/ sneddon but that wasn't a big deal cuz um...he was fair, right?
Soso Deaf
Proud Member
maybe that's y i feel stupid sometimes. u took more than half. boooooooooo
i just want everything to work out. i want hte family to be ok, i want justice to be served, i want the kids to be able to successfuly mourn in a healthy way and i want htem to be safe and grow to be happy adults. i also want mj's legacy to remian intact and his estate to be liquid.
butmoney changes people.mj saw that all the time. those kids were never spoiled and i'd hate for them to become spoiled b/c money is being spent just so it doesn't have to sit in an account. this is not what mj used to do w/ them. so i just hope it's carried over and the truth and the good andthehonest will prevail
i just want everything to work out. i want hte family to be ok, i want justice to be served, i want the kids to be able to successfuly mourn in a healthy way and i want htem to be safe and grow to be happy adults. i also want mj's legacy to remian intact and his estate to be liquid.
butmoney changes people.mj saw that all the time. those kids were never spoiled and i'd hate for them to become spoiled b/c money is being spent just so it doesn't have to sit in an account. this is not what mj used to do w/ them. so i just hope it's carried over and the truth and the good andthehonest will prevail
shimar
Proud Member
Exactly - and Debbie gets the kids - ALL OF THEM, including Blanket.
Who knows, maybe that's the best for them. At least they'll have privacy with Debbie.
Muumi
Proud Member
Michael got justice in the end. I do trust law. What I do not trust is lawyers...and I am one of them. I should know.
shimar
Proud Member
The Beatles catalog is important - but NOT the main asset of the MJ estate.
MJ currently owns or co-owns 60% of all music played on the radio.
That means from Latin, to Country, to Rock, to Adult Contemporary, to Gospel, to Classical.
60% !!!!!!
That means that 1 out of 2 songs are MJ co-owned or owned.
!!!!!!!!!!!!!!!!!!!
Not to mention the MIJAC song publishing which is MJs own songwriting catalog and administered Warner-Tamerlane (Sony-ATVs competitor) ....
AND MJJ Productions which own EVERYTHING of Michael's - from trademarks, to merchandising, to books, EVERYTHING.
And all that is within the Michael Jackson Family Trust and the trust that MJ put together for his music publishing enterprise.
MJ = GENIUS.
Muumi
Proud Member
I hope it ends up being a family business.
Soso Deaf
Proud Member
i ain't trust them either. im on my way to becomming one so i get it. lol
Soso Deaf
Proud Member
ok i don't get this part of ur post....
there have already been provisions made for what happens if someone should parish. but it goes back to thekids. if somethinghappens, god forbid, there are secondary beneficiaries if something were to happen.
Muumi
Proud Member
...then start behaving like a lawyer.... with decency and professional standards
I need to leave this thread. You guys are so funny I had to stay....take care...I hope to see you all talking about MJs songs.
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slimblonde2
Proud Member
WELL SAID back!
I seem to get my head bitten off in here just for being a 'new girl', whilst others 'have a go' at the family and are allowed to continue.
Have some respect people please.
williamorange1
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I'll explain for the hundred times :
Michael Jr, Paris and Blankito 40 % of the PROFITS of the estate ( long term beneficiaries , they will inherit their share plus katherine share )
mother Katherine 40 % of the Profits of the estate ( short term beneficiary, she will not inherit anything and can't rewill her share to anyone , once she leave the earth her share goes back automatically to mj's kids )
Charities 20 % of the profits of the estate ( long term beneficiaries, they will eventually get 20% of his estate )
MJ's wealth was worth in 2007 according to documents obtained by TMZ 1.7 billion $ . MJ'S share in the sony/ATV alone was estimated to be $ 1.5 billions , again HIS SHARE ONLY .
MJ had a loan against his share in that catalogue worth 300 millions . he alos borrowed against his neverland ranch and againt his own catalouge . the neverland issue was resolved before his death . his debt was between 300 and 350 millions in 2007 .
by the end of 2007 mj created two trusts to pay the debts , he had no access to money generated from Sony/ATV , everything went to pay the debt . MJ was making about 60 to 70 millions per year from the sony /atv catalouge .
he had not enough cash because he was determined to pay his debt by the end of 2011 according to the plan he put with the creditors .
everything was going ok , and O2 concert were only going to generate more cash so mj could buy other things and maybe spend more money , but it had really nothing to do with the debt , it was already taken care of .
back to the executors : in his will MJ gave the executors the authority to SELL , buy , invest ,reinvest the funds , profits of his estate ......, determine the amount of money going to beneficiaries , pay taxes and debts ...etc .
Every good executor will try to do what is best in the long run for the estate and does what is best to the people who will get eventually the estate who will inherit it , the long term beneficiarie : in thiscase the kids and charities .
the best strategy is to keep the assets , make it stable financially and expand it by inveting in other things . that only happens by paying debts and taxes first . the taxes are almost 48 % of the estate .
But that means the beneficiarie won't get the maximum 40% of the profits, if the plan is to keep the assets, pay the debts and taxes , enough but very little will be distributed to the beneficiaries , in other words instead of distributing lets' say 50 millions made from the This is it project to Katherine , she might end up with only the allowance .
o instead of the family getting 50 millions a year , they might end up with enough money for katherine to enjoy the same lifestyle she had before mj's death .
MJ named her as a beneficiary so she will be taken care of but his intntions were not to make Katherine a billionaire by giving her 40 % of his estate .
the executors can SELL the catalogue and that's why Randy want to be named as an executor .
MJ's share was 1.500 $ billion in 2007 , with a loan of 300 million , 100 million was paid of it before mj's death . and after his death alot was being paid also .
the family does not benefit from the long term strategy , they won't be part of the estate to collect the fruits of such a strategy . the family wants to liquidate the estate by selling the assets , so then the executors have no assets to monitor , they will distribute the cash generated as profits , and the katherine will end with at least 500 millions $ . she can rewill it to her children .
the kids will get the same , but they are still the biggest losers , instead of keeping their father etate which worth at least 2 billions now and will make hundred of millions in profits each year for them . they will only end with what the estate generate in two years as profits .
Michael Jr, Paris and Blankito 40 % of the PROFITS of the estate ( long term beneficiaries , they will inherit their share plus katherine share )
mother Katherine 40 % of the Profits of the estate ( short term beneficiary, she will not inherit anything and can't rewill her share to anyone , once she leave the earth her share goes back automatically to mj's kids )
Charities 20 % of the profits of the estate ( long term beneficiaries, they will eventually get 20% of his estate )
MJ's wealth was worth in 2007 according to documents obtained by TMZ 1.7 billion $ . MJ'S share in the sony/ATV alone was estimated to be $ 1.5 billions , again HIS SHARE ONLY .
MJ had a loan against his share in that catalogue worth 300 millions . he alos borrowed against his neverland ranch and againt his own catalouge . the neverland issue was resolved before his death . his debt was between 300 and 350 millions in 2007 .
by the end of 2007 mj created two trusts to pay the debts , he had no access to money generated from Sony/ATV , everything went to pay the debt . MJ was making about 60 to 70 millions per year from the sony /atv catalouge .
he had not enough cash because he was determined to pay his debt by the end of 2011 according to the plan he put with the creditors .
everything was going ok , and O2 concert were only going to generate more cash so mj could buy other things and maybe spend more money , but it had really nothing to do with the debt , it was already taken care of .
back to the executors : in his will MJ gave the executors the authority to SELL , buy , invest ,reinvest the funds , profits of his estate ......, determine the amount of money going to beneficiaries , pay taxes and debts ...etc .
Every good executor will try to do what is best in the long run for the estate and does what is best to the people who will get eventually the estate who will inherit it , the long term beneficiarie : in thiscase the kids and charities .
the best strategy is to keep the assets , make it stable financially and expand it by inveting in other things . that only happens by paying debts and taxes first . the taxes are almost 48 % of the estate .
But that means the beneficiarie won't get the maximum 40% of the profits, if the plan is to keep the assets, pay the debts and taxes , enough but very little will be distributed to the beneficiaries , in other words instead of distributing lets' say 50 millions made from the This is it project to Katherine , she might end up with only the allowance .
o instead of the family getting 50 millions a year , they might end up with enough money for katherine to enjoy the same lifestyle she had before mj's death .
MJ named her as a beneficiary so she will be taken care of but his intntions were not to make Katherine a billionaire by giving her 40 % of his estate .
the executors can SELL the catalogue and that's why Randy want to be named as an executor .
MJ's share was 1.500 $ billion in 2007 , with a loan of 300 million , 100 million was paid of it before mj's death . and after his death alot was being paid also .
the family does not benefit from the long term strategy , they won't be part of the estate to collect the fruits of such a strategy . the family wants to liquidate the estate by selling the assets , so then the executors have no assets to monitor , they will distribute the cash generated as profits , and the katherine will end with at least 500 millions $ . she can rewill it to her children .
the kids will get the same , but they are still the biggest losers , instead of keeping their father etate which worth at least 2 billions now and will make hundred of millions in profits each year for them . they will only end with what the estate generate in two years as profits .
MsMo
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Echo!
williamorange1
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before anyone says it is only theory , what do you make of katherine lawyer agreeing with the executors over the movie deal with AEG and sony but fighting them over the deal about the memorabilia tour ?
the company the family wanted to sign with did not even offer the same amount of profit AEG offered , not to mention they were a starting up company from the middle east while AEG were considered the best in the business .
the company the family wanted to sign with did not even offer the same amount of profit AEG offered , not to mention they were a starting up company from the middle east while AEG were considered the best in the business .
elusive moonwalker
Guests
its irrelevent. it goes to who mj said it should go to weisenr etc were never named in any will so using their name means nothing.those complaining about the "fake" will should be greatful weisner and others werent named as executors or benificaries
elusive moonwalker
Guests
prob one of jermaines friends with him offered a % as middle man
Soso Deaf
Proud Member
i know what's going on. i know what's legal and what's not and i know it doesn't always happen and especially not in a jackson issue....then start behaving like a lawyer.... with decency and professional standards
I need to leave this thread. You guys are so funny I had to stay....take care...I hope to see you all talking about MJs songs.
im watching to see who will self-destruct first, sell the family out, and go off on a tangent....honestly. i know it's coming.
there's threats there's rumors being put out by them. it's all blackballing tactics that need to stop. especially if u love ur brother and hiskids. it's bad
MJJ7777
Proud Member
NVM.
Edit.
Edit.
williamorange1
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totally agree, it is coming and it is coming very soon . the rift is huge between the siblings . Randy wants to control everything , he forgets he is not the only greedy person in that house .:mello:
Muumi
Proud Member
Its not easy to remove executors specialy in this case.
http://www.rollingstone.com/rockdai...l-of-michael-jacksons-assets-to-co-executors/
williamorange1
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the family wanted first Branca to appoint Randy as a third executor although in mj's will he said no third executor should be appointed and only if all the executors could not or would not want to perform as executors a replacment should be made .
Randy will be in a very strong position if he was appointed as an executor , he is the youngest of the three men , and he completely control the estate if one of the men stepped down .
all these accusations and blackmailing is to force Branca to appoint Randy as a third executor . that' it .
Randy will be in a very strong position if he was appointed as an executor , he is the youngest of the three men , and he completely control the estate if one of the men stepped down .
all these accusations and blackmailing is to force Branca to appoint Randy as a third executor . that' it .
shimar
Proud Member
LOL!! I thought you had more than half!
Then who has the part that's missing??????
:bugeyed:bugeyed:bugeyed:bugeyed
Muumi
Proud Member
He might be but naming a third executor (or fourth) would go against Michaels will. If he would be naimed he would have fiduciary duties and liabilities and conflict of interest rules would apply...he would not be able to anything that would contravene beneficiary's interests and the will itself. Besides it would be up for the judge to decide how much say he would have. Its a boring and hard job really.
MJs will was a "pour over will" meaning the property so devised shall be administered and disposed of in accordance with the provisions of the instrument or will setting forth the terms of the underlying trust. Probably only few people know the terms of the Michael Jackson Family Trust (revocable living trust or irrevocable trust). Maybe just Branca. Public certainly wont. I do not know how the media "knows" how much who gets unless they have seen the distribution provisions of Jackson's Trust, which I doubt.
But this is non of our business really. I have not seen the trust documents, the media has not seen either even though they claim to know everything...This is exactly why people like Michael Jackson use pour over wills..to avoid this kind of discussion. We do not know anything, no one does except the family and executors so really we ought to just watch and see what happens.
If you want to read the probate documents they are online. However, not necessarily all Michael's assets will be probated via courts simply because of the way the trust works.
I am not an expert on these kind of trusts because they are not recognized as legal in UK but this is roughly how it works.
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williamorange1
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once the probate is over the judge will have little say in anything , it is not like the kids are gonna go against him . It will be a family matter where the family will cover up for him , like they did in joe's case .
Mikejoefan
Proud Member
You speaking gUrl, You ain't doing nothing but SPEAKING the truth right now!:dancin: Gon head O :clapping
i know what mistty is talking bout too) Now to post in agreement with the bolded part. *ahahahemm...*For the life of me I can't understand why All of these "SELF APPOINTED KNOW IT ALL" fans speak with so much conviction. I mean the way some ppl speaking about mike's family you would thank they were in the INNER most of the jackson's circle. Its crazy. Yet they get all of their info from tabloidS who at one time couldn't tell tito from randy by way of photo. Now yeah alot of the jackson do come off shady or have done shady things. I agree with that. But the way SOME are blasting the family on EVERYTHING and speaking about them as if they were there when it happened is beyond me. I mean on the real folks speaking like stay at hayvenhurst :mello:
TO be honest if my brother passed on like michael did:no:...I too would question EVERYTHING (branca included). SO I don't blame them in that aspect. The will could be 100% correct, branca coming back when he did could be just a coincident, etc etc. But its just the shady way we lost michael that the family might be paranoid regarding anything and everything. Now it could be possible that the jacksons bro's are just down right dirty and want nothing more then michael's money. But until that is proven NOW (not previous situations), im not gonna speak about them like I know its the truth. It very well maybe a chance that the jacksons *grasp* KNOW more then us fans, who sit behind our computers, and get our info from shady media outlets. You guys what if, and this is a big IF, what if, randy does in fact prove the will is a phony. Then what yall gonna say? It could go either way (a phoney will or a phony randy) but lets not act like katherine may not be challenging this because she has good reason of her own without others talking in her ear, cuz that could very well be the case and we just don't know. Thats all im saying....Stop speaking like you are a fly on the wall at encino, cuz um guess what. YOU'RE NOT!
And now some fans want to go off on a tangent about londell! Lawd!:doh: Im glad momma k released this statement.
Also how can the family get money out off michael if say (example) randy becomes an exec of the estate? I mean the cut still goes to the kids, momma k, and charity, he can make bad decision but he still don't get no money except for his exec cut. Also if michael is in debt STILL, how can anybody get money outta him until thats paid off?????
on a sidenote: I STILL got my GOOD eye on jermaine regarding tohme :lol: cuz that's sitchiAtion is mad shady imo. *coughButImnotgonnablasthimcuzIdon'thaveanyproofcough*. :scratch:
144000
Proud Member
no one has a right to go against someone else's wishes, with their life, or their money..no matter what. related, or not.
Mikejoefan
Proud Member
Exactly. why some think debbie should get the kids is beyond me. Some are taking the dislike for toyrandyjerm & co and misplacing it at momma kat and its dead wrong. To be honest if the will is vaild michael in NOOOO ways stated mrs. rowe's name in regards to the kids. he even went on to state mrs. Ross over mrs. rowe so what does that tell you! debbie was nothing more then a "womb for sale" and nothing less. Yeah she ain't making a fuss cuz she is getting what the agreement promised. She sittin' pretty in that big ol house with her motorcycles and her horses. I wouldn't make no fuss either. shoot:no:
For the life of me I dont know why some folks think that they know it ALL. Do some of yall honestly think that michael didn't know who lives at encino with katherine and if he should pass, who his kids would be around? Do yall honestly think michael didn't know how (quote on quote) "weak":smilerolleyes: his mother maybe. Or know that certain family members would whisper in her ear?? come on now, surely atleast give michael credit for knowing who and ALL what his mother is as a person. Yet at the end the the day, michael had to choose the most trusted person to leave his kids and some of his money to. And he chose none other then his.... *drum roll*..... MOMMA! Period the end!:doh:
[on a side note] Also some of yall act like its something wrong with bringing the family along. For example if each one of you all won 10 million. would you honestly move to bel-air and leave your immediate family in a roachy shoebox shack house while you sat pretty in your mansion eating caviar. Come on now:doh:. Is it so bad for michael to not leave his family back in indiana :lol:. Now don't get it twisted im not saying they should mooch (which some have when they have talent to make their own cash) but some of yall acting like yall don't want the J's to get one red cent of his money. And I ask...Is it THAT bad! :doh: