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Michael Jackson Estate funding Trust 30 Million for Katherine & Kids

tbh mj lived at hayvernhurst along time ago it was the family home. mjs home was nevvy. so i dont see the significance interms of it just being related to mj
 
elusive moonwalker said:
tbh mj lived at hayvernhurst along time ago it was the family home. mjs home was nevvy. so i dont see the significance interms of it just being related to mj
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You know what? I thought about that. Very personally, I think it's because I've had that address since forever, and I remember writing it on envelopes when I was a kid. :) A bit silly.

Also, I dont know of course what has been told to the kids, if they agree, dont care, or whatever, but I think it should be their decision, since it's their dads property, hence theirs now.
 
I am not sad about the house per se, I am sad about those memorabilia rooms that Michael created there. It would be nice to see that some day...
 
I'm surprised she wants to sell it..After living there for that long, with all those memories?..Lot's of Michael memories too.

I wish they wouldn't sell it..They don't have to considering the amount of $ coming in..but it's up to them of course. =\
 
Ben said:
You know what? I thought about that. Very personally, I think it's because I've had that address since forever, and I remember writing it on envelopes when I was a kid. :) A bit silly.

Also, I dont know of course what has been told to the kids, if they agree, dont care, or whatever, but I think it should be their decision, since it's their dads property, hence theirs now.
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yeah maybe its a generation thing.to me it doesnt mean that much interms of mj cause of the ranch but it terms of the actual family theres obviously more of a connection considering how long they lived there. to me its the family home not mjs homes

I am not sad about the house per se, I am sad about those memorabilia rooms that Michael created there. It would be nice to see that some day...
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im sure the estate will do something one day
 
Autumn II said:
I'm thinking that the timing of this announcement might be cleverness on the part of the Estate, given that the GLE concert is supposed to generate a "trust fund" for the children, that they CLEARLY do not need?
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Petrarose said:
Yes, I was thinking so Autumn. The estate being cleaver and professional would not go on TV and say "How dare you say we are not giving XYZ money." They do it the professional way simple file some documents that they know certain parties will look at and put in their papers. I say good move by the estate--let someone else do the unnecessary work for you!!!
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even though I would like to agree with you, I don't think it was specifically planned.

Estate's required to do regular reports (every 9 months) and the most recent evaluation of their accounting started around August. There was a accounting hearing at August 24 and another one set for the end of this month. This is basically the time that are going to be reporting to the judge, who will evaluate and ask them for more information, more filings and more hearings and audit and approve/deny their accounting. (I remember I posted the August 24 hearing probate notes judge asking for more information and end of september hearing would mean that they'll need to get the judge the documents a few weeks before so that he can read them). So it's most probably normal timing.
 
Ben said:
Did you just call me old?? roflmao

I think you're right. Bt I have to admit Hayvenhurst doesnt represent as much as Neverland to me. By far.
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I agree Hayvenhurst doesn't really have to much meaning for me as far as Michael is concerned....I dont mind if the estate sells it..they cannot hang onto everything Michael....also it makes no sense to pay mortgage on a property for nothing,
 
Very good news!

I'm sorry I didn't read all the posts. My computer is super slow lately. So, who are the trustees of the trust? Will 20% of the income generated by the trust fund be distributed to charities? I wonder who will be the investment advisors of the trust.
 
Over the years all of Michael Jackson's siblings have had "big money".
Thus, Janet Jackson and Michael's other siblings have always been free to pool their money and buy Hayvenhurst; but up until now they have never chosen to do so. One can only conclude they don't want it; but, instead, they would
rather do other things with their money.
 
elusive moonwalker said:
Funny who this getd filed after the statements by chris hunt about thr 100k trust fund lol. aslong as they arent spending millions more on a house than what hayvernhurst is worth who really cares cant see how u can turn it into a museum.its just on a normal street
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Yor right. It's in a residental area.
 
I can't wait to find out which deserving charities will, also benefit from the Michael Jackson Trust Fund.
I do so hope his children get to have a say in this decision.
angel3r.gif
 
I have always thought of the Encino house as the family home and Neverland as Michael's home so I am not too saddened about the news to sell Hayvenhurst. It will be just a shell to whoever buys it with all the memorabilia etc moved to elsewhere. The problem to a potential buyer would be the crowds of people who will inevitably turn up to get a glimpse of where MJ used to live. It would have made a great museum but I guess neighbours would be unhappy with the public being around night and day. Wonderful for the news of the $30m to come out now to show GLE that Michael's Mum and his children really do not need any charity handouts.
 
CherubimII said:
I can't wait to find out which deserving charities will, also benefit from the Michael Jackson Trust Fund.
I do so hope his children get to have a say in this decision.
angel3r.gif
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the administrators and Kathrine will decide which charities will benefit. So it is written in the will.
 
40% of $30M,
that's $12 M to MJ3.
Each one gets $4M.
Kept in trust till they turn 18.
With each year that goes by, inflation would have
chipped away an tiny fraction of it.

But with Katherine, 40% 0f $30M = $12M today,
that's enough for her to buy the Calibass house if
the current valuation that house cost $10M .
If she sells Hayvenhurst at $4.1M, her cash outlay for new house
costs her only $5.9m.
Factor in renovation at $250,000,
Calibass house costs her 6.15M.
Still has $5.85M cash in hand.
Pressure goes off the lid..
It doesn't take rocket science to tell how soon and how much will be left ....
20% of $30M = $6M today can go to charity *coughHTWFcough*....
 
christy said:
40% of $30M,
that's $12 M to MJ3.
Each one gets $4M.
Kept in trust till they turn 18.
With each year that goes by, inflation would have
chipped away an tiny fraction of it.

But with Katherine, 40% 0f $30M = $12M today,
that's enough for her to buy the Calibass house if
the current valuation that house cost $10M .
If she sells Hayvenhurst at $4.1M, her cash outlay for new house
costs her only $5.9m.
Factor in renovation at $250,000,
Calibass house costs her 6.15M.
Still has $5.85M cash in hand.
Pressure goes off the lid..
It doesn't take rocket science to tell how soon and how much will be left ....
20% of $30M = $6M today can go to charity *coughHTWFcough*....
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great math skills and thank you. :hug:
 
Kathrine doesn`t get 40%. She becomes until the end of her live a apanage, the house and her stuff etc. will paid from the trust and the rest goes in the Kathrine Jackson Trust. After her death the money of the K. Jackson-trust goes to the Michael Jackson`s childreen trust.
 
Yeah nothing really changes. she still gets her allowance. the money goes into the pot for the long term ie the kids
 
At least somebody is looking out for those children........

MJJ Estate = Big Win
Jackson Family = Big Fail
 
Resa said:
I'm sad that Katherine has decided to sell Hayvenhurst. IMO it would have been great for a museum one day.
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Yeees! That's my opinion too.
Owner of Hayvenhurst is not Katherine; Owner is The Estate Michael Jackson!.... und, perhaps, LaToya with a small Part. (?)

Nevertheless, we can think about a fan initiative. A petition to the executors....

Michael has lived long years on Hayvenhurst.
Thriller- and Bad-Album are "Made of Hayvenhurst"!

Let us think about a petition to Mr. Branca!
We want a museum!.......

The small kennel in Gary gets so much attention and love.
And Hayvenhurst should be sold?
Why?
Because Gary is a Symbol for J5 and Hayvenhurst is only a symbol for Michael?
 
christy said:
40% of $30M,
that's $12 M to MJ3.
Each one gets $4M.
Kept in trust till they turn 18.
With each year that goes by, inflation would have
chipped away an tiny fraction of it.

But with Katherine, 40% 0f $30M = $12M today,
that's enough for her to buy the Calibass house if
the current valuation that house cost $10M .
If she sells Hayvenhurst at $4.1M, her cash outlay for new house
costs her only $5.9m.
Factor in renovation at $250,000,
Calibass house costs her 6.15M.
Still has $5.85M cash in hand.
Pressure goes off the lid..
It doesn't take rocket science to tell how soon and how much will be left ....
20% of $30M = $6M today can go to charity *coughHTWFcough*....
Click to expand...

Depends on how it's invested, since they get a stipend, and not a lump sum. The principal could very well keep ahead of inflation.

Same with Katherine. Not a lump-sum, but a stipend probably based on the interest of her portion of the trust. The purchase of the new home may not be part of this Estate fund, i.e. the estate could take care of selling the Encino home, and buy the new home independently of what is in the Trust? I don't think we know how that will be financed yet, do we (or maybe I missed that part?)
 
Resa said:
I'm sad that Katherine has decided to sell Hayvenhurst. IMO it would have been great for a museum one day.
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i thought that too. imo he deservers some sort of "graceland" but much classier. if anyone is going to campaign for that at Hayvenhurst or even Neverland i'll join. cuse right now his things seems to becoming more scattered and it's not right.
 
christy said:
40% of $30M,
that's $12 M to MJ3.
Each one gets $4M.
Kept in trust till they turn 18.
With each year that goes by, inflation would have
chipped away an tiny fraction of it.

But with Katherine, 40% 0f $30M = $12M today,
that's enough for her to buy the Calibass house if
the current valuation that house cost $10M .
If she sells Hayvenhurst at $4.1M, her cash outlay for new house
costs her only $5.9m.
Factor in renovation at $250,000,
Calibass house costs her 6.15M.
Still has $5.85M cash in hand.
Pressure goes off the lid..
It doesn't take rocket science to tell how soon and how much will be left ....
20% of $30M = $6M today can go to charity *coughHTWFcough*....
Click to expand...

Katherine does NOT take 40% of 30M. 30M is the principal. so the 40% of 30M is the pool size of her trust. she'll be getting interest on that amount only. Even so, the Estate is not obliged to pay her the full interest on the principal. They pay strictly based on her needs.
Maybe someone can correct me if i am wrong.
 
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xthunderx2 said:
I agree Hayvenhurst doesn't really have to much meaning for me as far as Michael is concerned....I dont mind if the estate sells it..they cannot hang onto everything Michael....also it makes no sense to pay mortgage on a property for nothing,
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Pardon, thunder, but your first entence ist YOUR SUBJETIVE OPINION:

Look: Michael stayed about 15 years at H.! Michael himself arranged to rebuilding this house according to his ideas!
(I thinkfor myself: it is ugly; but this is not important!)
Important is: It has been a station for a long time in his life!

It would be a worthy place for a museum.
 
Of course its an opinion.what else do u think it is. as she says it doesnt have much meaning for her. for others it may have huge meaning
 
passy001 said:
Katherine does NOT take 40% of 30M. 30M is the principal. so the 40% of 30M is the pool size of her trust. she'll be getting interest on that amount only. Even so, the Estate is not obliged to pay her the full interest on the principal. They pay strictly based on her needs.
Maybe someone can correct me if i am wrong.
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I think you are correct. Plus, as you said, the Estate is not obliged to pay full interest on the principal, and the principal most likely will still increase, staying well ahead of inflation.
 
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