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Michael Jackson deals coming as lawyers line up to be paid

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Lawyers working for Michael Jackson's estate lined up in court Thursday to ask a judge to order that their legal fees be paid. One firm is billing the deceased pop star's estate about $60,000 a month and another invoice given to the judge was for $1.2 million. Attorney Paul Hoffman said it is money well spent because "several very interesting projects that break new ground" will be announced soon. He offered no other details.




An army of lawyers have battled in probate court since last July over who will control Jackson's legacy, music and property in the wake of his June 25, 2009 death.

A will that Jackson signed in 2002 named John Branca, his lawyer then; and John McCain, a music executive, as executors, but the Jackson family challenged them for control. Katherine Jackson, the singer's mother, gave up her fight last fall, but his father, Joe Jackson, continues his effort.

Jackson died owing major debts, but his investments in music catalogues and the rights to his name are believed to be worth hundreds of millions, if not billions, of dollars.

Hoffman said an appraisal of Jackson's estate should be completed soon.

The estate negotiated an $80 million deal with Sony Entertainment last summer that resulted in the "This Is It" documentary released in October.

Joel Katz, a lawyer specializing in entertainment deals, billed the estate $1.2 million for his firm's work, according to court papers. Hoffman said Katz cut his fees by $300,000.

The lawyer who represents Michael Jackson's three children told the judge
she thought the attorney fees were reasonable. Prince Michael, 12; Paris, 11; Blanket, 7, and Katherine Jackson each have a 20 percent share of the estate. The remaining 20 percent will go to charities that have not yet been chosen.

The will is still in the probate process, requiring Los Angeles Superior Court Judge Mitchell Beckloff to approve major expenses. He said he would issue an order Monday to pay the lawyers.

http://www.financialnewsusa.com/mor...on-deals-coming-as-lawyers-line-up-to-be-paid
 
how nice of one of those attorneys to take a paycut.

..whatever.

well i hope the deals are big.

it's hard to believe there are too many finance geniuses in the world, the ilk of MJ.

these lawyers are fortunate. they did nothing but latch onto genius. not too many companies doing like this one is. not as many lucky lawyers out there. so i hope they take care of it. MJ came up with something that is hard for a lawyer to mess up, as rumours of it's demise, over the years, have proven to be just that..rumours. after all, it's as strong, today, as it ever was. that is due to MJ's genius, in conceiving it.

as for the headline about major debts...again, the phrasing is deceptive. but what else is new?
 
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Interesting.

I am gonna support whatever is the estate does to keep MJ's legacy alive.

I really trust Branca & McClain. Their history with MJ & their track records are undeniable.

If these new projects are official (approved by the estate), I will definitely support them as much as I can.
 
^ Yeah, what? Who is he? (My uncle's name is Paul Hoffman! And he's an attorney...! :eek: But that's not him. Well...not to my knowledge...:unsure:. haha.)
 
The article misquotes estate share.

Katherine has 40% share

The kids combined have 40% share, which is 13.33% each as of now

charity gets 20%

When Katherine passes, her 40% share goes to the kids who then get 26.66% share each
 
Attorney Paul Hoffman said it is money well spent because "several very interesting projects that break new ground" will be announced soon. He offered no other details.

The new album.
 
vncwilliam said:
did i sayy that they should work for FREE? read my post. i didn't say they should work for free!

at the same time, nobody should fleece anybody.

and despite the fact that some people think MJ shouldn't be included in the list of people that shouldn't be fleeced...MJ Is included in that list.

he shouldn't be punished for being lucrative, anymore than anyone else should if They are lucrative.

the money's gunna come in. the lawyers are gunna get theirs. there is no excuse for the the- more-i -get,- the- more- i -want mentality. because the more you Give, the more you'll get.

there's no excuse for greed, and then rationalizing it as not being greed.
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The lawyers of the estate asked for less money percentage wise then what someone normally gets for running an estate. If anything, the estate is getting the good end of the deal. People need to stop the knee-jerk reaction of complaining everytime someone makes money off the MJ estate. The fact of the matter is MJ owed people some money and his estate owes people some money and those people should be paid what they are owed. MJ didn't get as big as he did without the help and resources of others. Those others deserve their fair cut of the money.
 
Eric said:
The lawyers of the estate asked for less money percentage wise then what someone normally gets for running an estate. If anything, the estate is getting the good end of the deal. People need to stop the knee-jerk reaction of complaining everytime someone makes money off the MJ estate. The fact of the matter is MJ owed people some money and his estate owes people some money and those people should be paid what they are owed. MJ didn't get as big as he did without the help and resources of others. Those others deserve their fair cut of the money.
Click to expand...

no....people have been stealing from MJ for years. all those many people you say he owes are frivolous lawsuits. you're just going by media reports. and as far as small price for what usually is used for running an estate, that is not true, because with the passing years, there's always inflation, so there's no way for you to know that. the definition of 'fair', these days, is way too often, more, than not, greed. the word 'fair' is a loaded term, these days. i hear it all the time, in this law suit happy country.

i have seen enough of pictures of the houses of employees of MJ, to know that they have been getting paid. a big step up from where they used to live.

and as far as 'knee jerk'...dude....with all that MJ went through excuse the fans for being human.

yeah. everybody knows that MJ's estate is lucrative. so, everybody is in line to collect. and the word 'fair' is suddenly like all is fair in love an war type of fair. i certainly hopes the judge does a fair job, of regulating, as in the true definition of fair.

and as far as a lot of people working with MJ, on his way to the top.... a lot of people worked with a lot of artists, so how come those artists didn't get as big as MJ? the difference between MJ and the other artists, were not the other people. that difference is MJ. and he also took those people and helped Them.

think about it. a lot of people were stealing from MJ through the years, yet he still did well, because of his attitude towards money. not caring too much about it, not acting too clingy, towars it, but investing it. it's a universal rule that leads to financially flourishing. but a lot of people around him cared about money too much, and held onto it, too tight. so they found themselves not flourishing as much. MJ can't be blamed for that. all the strange things that happened with people in the middle, mismanaging his affairs, and he still did well, while others did not. that boils down to attitude towards money. you squeeze something too tight, it will slip through your fingers. the same rule that applies to being obsessed with another person, applies to being obsessed with money. and the same bad results over being obsessed with a person are the same bad results that happen to a person that is obsessed with money. most of those people that tried to take it out on MJ, were people that were obsessed with money, to the point of not wanting to pay their own bills. those who mismanaged MJ were the kind that would be hesitant to pay a water bill in their own home, because of obsession over money. and that kind of behavior comes back to them. MJ did his part. those others didn't do their part. what happens to a person financially can only be affected by their OWN decision making, no matter what's going on around them. they can't point the finger at somebody else. people stealing from MJ, and MJ, himself, still doing well, was proof of that.
 
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thread cleaned
please let's keep the discussion on topic without arguing with other members.
 
Memefan said:
Interesting.

I am gonna support whatever is the estate does to keep MJ's legacy alive.

I really trust Branca & McClain. Their history with MJ & their track records are undeniable.

If these new projects are official (approved by the estate), I will definitely support them as much as I can.
Click to expand...

I feel the same. I trust the executors of the Estate. So far they've proved being trustworthy... I am going to support the official MJ projects.
 
Anyone still want to cry about the lawyers getting paid after the $250 million deal? haha
 
Attorney Paul Hoffman said: "several very interesting projects that break new ground" will be announced soon. He offered no other details.
Click to expand...

we now know what new projects he mean...
 
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