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Michael Jackson Estate funding Trust 30 Million for Katherine & Kids

katherine's children should go and buy it, where is janet when u need her, ccant she see all the memories her elderly mother connects with that house?! buying it would be peanuts for her. the sole reason katherine is not willing to let it go is b/c she knows her children and their own children need shelter. guess what it's not michael's estate's concern, either live in it or tell ur multi millionaire ddauhgter to buy it and keep it for u
 
It was revealing in the mail interview when Mrs J said that MJ remodelled hayvenhurst as a gift for her. She clearly feels that the house belongs to her and it's an unfair technicality that the deeds aren't in her name. The ironic thing is that it would at least partly belong to her legally if she hadn't got involved in all these dire business scams forcing MJ to buy her out to avoid it going to pay the moonie concert lawsuit.
 
Over the past year I have spoken with many fans who have a real concern about the ongoing attempt to detach Michael Jackson from the financial success of his own estate. The executors are doing a good job of continuing his legacy as well as some of the ideas Mr. Jackson shared before his passing. However the media will be quick to give praise to the executors of the estate as a back handed way of attacking Michael. The execs receive praise while Michael is portrayed as a "spendaholic" and ultimately a non providing father.

The idea that Michael Jackson's image and fortune were saved because he died is just disrepecful. Also factualy inacurate. He earned atleast $100 million a year and had just broken new records after announceing his "this is it" concerts.
MJ Legacy7

"Give Michael credit for his estate"

http://www.facebook.com/pages/Give-Michael-Jackson-credit-for-his-Estate/260054354029190?ref=ts
 
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Legacy ^^WELL SAID!!!!!! The media tries to pretend that Michael had nothing to do with the success of his estate. If Michael Jackson did not have great business sense, a unique art and talent, a loving and generous spirit, there would be nothing for any executors to use to make additional revenue. Unfortunately, the media are the ones who write the reports, so it is up to the executors to point this out when they talk about his estate. later on I hope the children with point this out publicly as well.
 
I'm just getting around to posting about this here... But I saw this news scroll across my TV screen on CNN when it first became public knowledge. I knew that Mrs. Jackson would sale that home... when they went most quietly to Calabasa, California when supposed renovations of Hayvenhurst were being made. They never came back and there was not much news about it,it was pretty quietly done. I'm kind of sad about the saling of MJ's estate at Hayvenhurst.. It is iconic and so many things was created there... part of "Thriller" was filmed there as well. Michael still had so many of his things there. I thought that maybe it'd been made a sort of historical landmark.

:heart:
souldreamer7
 
elusive moonwalker said:
Exactly. and im glad the estate arent falling for it
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So am I. Hayvenhurst will not become a historical place because it isn't.

It will not become a museum because the street it is located on is tiny and there is no way in hell, the neighbours will not allow this to happen. They will not allow their property value to go down....

It will NOT happen.

Neverland on the other hand....they can apply & get the rule changed. Even though Santa Barbara residents don't want Neverland to open to the public, and Neverland has its on Zip code. So imagine Encino residents?

It's not gonna happen.

LastTear said:
Yes but you can imagine what some will say.

And yes if the Jacksons want to buy it then they can.
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Exactly what I tweeted Jermaine, right after he tweeted Hayvenhurst is not for sale". I asked him if he was the 3rd executor..and if he wasn't he can always buy it with the advance he got for his flop book **hi hi hi hi Alejandra most likely already spent that money**

Diplomate said:
No they are working now. They are writers.
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Lol


souldreamer7 said:
I'm just getting around to posting about this here... But I saw this news scroll across my TV screen on CNN when it first became public knowledge. I knew that Mrs. Jackson would sale that home... when they went most quietly to Calabasa, California when supposed renovations of Hayvenhurst were being made. They never came back and there was not much news about it,it was pretty quietly done. I'm kind of sad about the saling of MJ's estate at Hayvenhurst.. It is iconic and so many things was created there... part of "Thriller" was filmed there as well. Michael still had so many of his things there. I thought that maybe it'd been made a sort of historical landmark.

:heart:
souldreamer7
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Michael removed everything he wanted from Hayvenhurst decades ago.
 
Petrarose said:
Legacy ^^WELL SAID!!!!!! The media tries to pretend that Michael had nothing to do with the success of his estate. If Michael Jackson did not have great business sense, a unique art and talent, a loving and generous spirit, there would be nothing for any executors to use to make additional revenue. Unfortunately, the media are the ones who write the reports, so it is up to the executors to point this out when they talk about his estate. later on I hope the children with point this out publicly as well.
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Thank you, and it's true that the executors need to make an effort to tell the story of Michael's success not just their own. Thing is, someone has to get that discussion started because in no recent article or statement does Michael receive credit for anything concering his own estate.

When it comes to stories of his own estate, Michael's name is only mentioned as a way of using the word "debt" to an extreme. The clear implication being that he left his children nothing but bills. Truth is Michael was a great providing father who left his children an estate with billions in assets. He also financialy supported his mother.


http://www.facebook.com/pages/Give-Michael-Jackson-credit-for-his-Estate/260054354029190?ref=ts
 
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Memefan said:
Exactly what I tweeted Jermaine, right after he tweeted Hayvenhurst is not for sale". I asked him if he was the 3rd executor..and if he wasn't he can always buy it with the advance he got for his flop book **hi hi hi hi Alejandra most likely already spent that money**
Lol
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^^My goodness, I can't believe you told Jerm that^^. Funny. Yes the ex already came knocking on that door.

It seems grandma and the kids are happy where they are. It is so amazing having your own zip code though. That zip code would make an interesting MJ logo.

Yes I think Michael took all he needed from the house and made his own history at Neverland. Grandma will have to say bye to the house and take everything with her. They could replicate the room that Michael created in a museum.
 
Petrarose said:
^^My goodness, I can't believe you told Jerm that^^. Funny. Yes the ex already came knocking on that door.

It seems grandma and the kids are happy where they are. It is so amazing having your own zip code though. That zip code would make an interesting MJ logo.

Yes I think Michael took all he needed from the house and made his own history at Neverland. Grandma will have to say bye to the house and take everything with her. They could replicate the room that Michael created in a museum.
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As long as the money is NOT rolling in their pockets, don't count on the Jack$on$ for a museum. They couldn't care less.
 
Memefan said:
Michael removed everything he wanted from Hayvenhurst decades ago.
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Really..? I know he sent for his things and brought them to Neverland,but I'd seen photos of the bedroom(s) upstairs that was covered in things that was there since he lived there and so I thought that he wanted to keep it that way....Just that Michael bought that home and there is history there(I look at the positive side) Either way,it does make me a bit mellon collie. I am speaking without the money/corp. component added in..just from my heart. speaking in terms of Michael Inc. would be another post.

"Where it's at"
:heart:
souldreamer7
 
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Wow, I never knew Neverland had it's own zip code.. how come it has his own?
 
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twinklEE said:
Wow, I never knew Neverland had it's own zip code.. how come it has his own?
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ExoticPrincess said:
Me neither, you learn something new everyday it seems.
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Ok guys sorry...I should have worded this differently.

Neverland probably has its own Zip code, I heard one of the reporters (might be Matt Lauer) that visited Neverland after MJ passed say it, because its isolated & spawning, but it could be an exaggeration.

I wouldn't be surprised, because his next door neighbour isn't really "next door"..
 
^^Oh thanks. We should really find out though if it has its own zip code. That would be so awesome.
 
If NL has it's own zip code it is even cooler than I thought. :lol:
 
Some updates

About buying a new house

"Mrs. Jackson has identified one or more potential residential real properties, including the temp residence where the family resides -- Mrs. Jackson believes the replacement residences are better suited to fit the needs of the decdent's minor children for whom she is the guardian -- the temp residence is listed for sale at $9,995,000 & petnrs believe that one of the properties selected can be acquired for a price NTE the listing price of the temp residence"

so Estate is planning to buy a house worth around $10 Million for Katherine and the kids.


About selling of Hayvenhurst.

"Petnr's requests auth to enter into an exclusive listing agreement to sell estate r/p located at 4641 Hayvenhurst Ave., Encino - Mrs. Jackson, the children's gdn, has requested that petnr sell subject r/p & purchase another residence . r/p has d/d value of 4,150,000"

so initial plan was to sell Hayvenhurst for around $4 million. However TMZ reported this below

KATHERINE JACKSON On Second Thought ... I Don't Want to Sell the House

Katherine Jackson has had a change of heart, deciding she doesn't want to sell the Jackson family home after all.

During a court hearing yesterday, Howard Weitzman, the lawyer for the Michael Jackson Estate, announced they were withdrawing their petition to get the judge's approval to sell the Hayvenhurst estate in Encino.

Weitzman said they submitted the petition because Katherine expressed a desire to sell the property but has since had second thoughts.

The court did, however, approve a petition for Katherine to buy another house. Sources tell TMZ ... she wants to buy the home she's currently renting in Calabasas, where she can live with Michael's 3 kids.

So Hayvenhurst is not being sold.

About $30 Million disbursement.

Probate documents list this information:

estate assets generated more than 310 million in gross revenues
debt reduced by 90 million
inventories total 50,677,002.12
cash on hand after deducting reserves for fiduciary income taxes exceeds 90 million
petnrs propose to make a prel dist of 30 million

The matter is continuing. Judge is asking the Executors for more information about unpaid creditor claims and the judgement against Katherine (by Segye Times)
 
Is the estate going to be responsible for Hayvenhurst and the house they want to buy?

And what the judgment against Katherine has to do with the estate? Will the estate have to pay that?

Thanks.
 
I'm glad that it appears that Hayvenhurst will not be sold.
 
At this point in time with the trial going on the least I say on this the better, but all I will say is that I hope that we will not hear any further negative stories from KJ about the estate and the funds.
 
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Before his death, Michael Jackson's not only won over fans but also won over property management orlando fl Wall Street investors.
Now, the finance companies that funded Jackson's extravagant lifestyle - as the superstar continuously flirted with bankruptcy throughout the end of his life - are looking for a return on their million-dollar investments.
However, with the Jackson estate in $331 million of debt, it is unclear if companies such as Colony Capital LLC, Fortress Investment Group and Barclays Bank PLC will receive as much money as they have invested
 
Link tmz i guess? and whats the story actually about. i do find it funny that mj led this this extravagant lifestyle. did he? cause maybe im missing something. did he have houses all over the world private planes and boats? what was so extravagent. i guess certain ppl hated the fact he made his money off elvis off the beatles etc and were so desperate for him to be broke. the racist undertones are so pathetic. funny that for example if reports are to believed mo fayed sold harrods for a billion but 600 mill of that went back to the bank for loans he had. fayed is what u call an extravagent lifestyle.saw him in monaco once in 07 as he got off his boat that was prob worth 50 mill at least!
 
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^^It is hard for some to stomach the idea that Michael Jackson made millions in his lifetime. Even Donald Trump had financial difficulties, and we know how rich this man is. After learning the way people stole from Michael, I am glad he was able to enjoy the money that he worked hard for by using his talent. Next, banks/investors lend you money because they are going to get something out of it, but people who write articles like the above act as thought investors/banks gave Michael free money and he used it up to live an extravagant lifestyle.
 
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