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Michael Jackson Estate funding Trust 30 Million for Katherine & Kids

I have the feeling the kids and Katherine are happy in the new house they are in and like it better, so they will take all their personal belonging from Havenhurst and sell the house. Life goes on. We will have to wait for a museum later in the future.

Let them live their lives in a new home where they can make new memories, if they want to. Don't forget guys that the children did not go to Havenhurst much before Michael died. They also are used to living in various homes, even though Neverland was their main home. They also took pictures of Michael with them to the new house. It seems the kids keep Michael with them wherever they go, so we should not worry about this house situation.

Also, the estate cannot keep an empty house, simply because we feel we are losing part of Michael. Let's not be selfish, because we have so much of Michael still with us here. Think about it: the music; future music and events; DVD's; photos; his notes; his clothes in exhibits (just saw one in Grammy Museum in LA); memories from those who knew him; and on and on.
 
I'd say keep the house and buy a new one.........


It'll mean more assets for MJ3 when they inherit the estate!!!
 
Good and bad news at the same time. Encino is such special place and it doesn't metter that Mike left it away long time ago. He grew up there, became who he was, he composed and recorded so many great music there. It's like the first Neverland! He re-built this house for his mother and it's so sad she's gonna sell it now. I can't believe it's true.
Financial issue is getting better and she wants to change her old house to more classy place. No way to keep this house asa big part of Michael's life?
Well, nothing's personal Katherine. Just business :(
 
Sophielo said:
It's a bit weird as they moved out as it was being renovated. Why renovate if you're going to sell?
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previously they said that the house had termites and they need to gas it to clean it. So yeah I guess that renovation was needed. No one is gonna buy house with termites.
 
ivy said:
previously they said that the house had termites and they need to gas it to clean it. So yeah I guess that renovation was needed. No one is gonna buy house with termites.
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or JERM-ites :ninja: :D
 
ivy said:
previously they said that the house had termites and they need to gas it to clean it. So yeah I guess that renovation was needed. No one is gonna buy house with termites.
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But I thought Alexandra had already moved out.
 
True but why have the hassle of been a landlord.if they dont want it and dont need it u sell it.
 
elusive moonwalker said:
True but why have the hassle of been a landlord.if they dont want it and dont need it u sell it.
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A bit too simple. I sincerely hope that the Estate is not going against Katherine wishes on that one. The Estate has every right to sell the house. However, it scratches me the wrong way if they sell someone's home of 40 years with lot of memories just because they can do it. On the other hand, the only "source" of controversy on that one so far is Jermaine who most likely does not have any information.
Until I hear otherwise, I am with the Estate.
 
Whys it to simple. didnt ivy say that the trust says anything that isnt profitable should be sold.if katherine doesnt want to live there anymore u sell it and buy a new one which is what they are doing. u cant have a new house and expect to keep the old one for the sake of it.the estate wouldnt be selling it if kat didnt want to as the house they will buy is gonna cost more than what hay is worth.
 
elusive moonwalker said:
Whys it to simple. didnt ivy say that the trust says anything that isnt profitable should be sold.if katherine doesnt want to live there anymore u sell it and buy a new one which is what they are doing. u cant have a new house and expect to keep the old one for the sake of it.the estate wouldnt be selling it if kat didnt want to as the house they will buy is gonna cost more than what hay is worth.
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There is a business point of view and a moral one. Going by business logic, it makes every sense in the world to sell Neverland. It is, after all, totally NOT profitable.

From the business point of view, the Estate has every right and Katherine has no say.
 
elusive moonwalker said:
Whys it to simple. didnt ivy say that the trust says anything that isnt profitable should be sold.if katherine doesnt want to live there anymore u sell it and buy a new one which is what they are doing. u cant have a new house and expect to keep the old one for the sake of it.the estate wouldnt be selling it if kat didnt want to as the house they will buy is gonna cost more than what hay is worth.
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I agree Elusive...besides if Katherine would of wanted to stay in a house FULL of memories she never would have moved to this new permanent residence, Her memories are carried inside her mind and her heart....she doesn't need to be in a house,,,,that is only a building. I think it is good for her and the children to be were they are. sometimes trying to hang onto the past for sentimental reasons can harm people more psychologically, They certainly dont need the cash,,,its the piece of mind that they need. imo
 
^ Well in my opinion, Neverland has a lot of potential to be very profitable if they make they make the right decisions..

As far as Hayenhurst..Yeah Jermaine obviously has no idea what's going on..and since he doesn't like the decision he's just gonna blame others for 'influencing' his mother's decision lol..
 
Tsukiji said:
As far as Hayenhurst..Yeah Jermaine obviously has no idea what's going on..and since he doesn't like the decision he's just gonna blame others for 'influencing' his mother's decision lol..
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Totally agree with this. It seems to be a pattern of his.

As for Hayenhurst being profitable... Well, lets see. It is not in the middle of nowhere. It does not have all county of neighbors opposing to any kind of the museum. It has Michael's Off the Wall history and Thriller history, not to mention Jackson 5 and Jacksons.

All that said, if the Estate and Katherine are in the agreement regarding this sale, so be it, in my opinion.
 
elusive moonwalker said:
Whys it to simple. didnt ivy say that the trust says anything that isnt profitable should be sold.
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"to abandon any property , real or personal, which the Trustee shall deem to be worthless or not sufficient value to warrant keeping or protecting; to abstain from the payment of taxes, water, rents, assessments, repairs, maintenance and upkeep of any such property. "
 
Correct me if I wrong. Hadn't Michael own only part of Encino property? I remember he bought out just a part of ownership in early 80th. As I remember it was Joe's part. Another part was Katherine's. Had he bought the rest?
 
Mariuana said:
Correct me if I wrong. Hadn't Michael own only part of Encino property? I remember he bought out just a part of ownership in early 80th. As I remember it was Joe's part. Another part was Katherine's. Had he bought the rest?
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If I remember correctly, this was clarified when Alexandra was trying to stay at Encino. Michael is the sole owner of the property.

ivy said:
"to abandon any property , real or personal, which the Trustee shall deem to be worthless or not sufficient value to warrant keeping or protecting; to abstain from the payment of taxes, water, rents, assessments, repairs, maintenance and upkeep of any such property. "
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Thanks Ivy, I cannot open the copy of the trust document from work. Like I said, it is not that simple. If I understand it correctly, it does not say that Trustees MUST abandon any "worthless" property. It gives them right to do so. It is their choice.
 
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Well i guess if kat doesnt want to sell it she keeps living there and doesnt have a new house brought for her. as the estate have said she wants to sell so theres no issue
 
LastTear said:
But I thought Alexandra had already moved out.
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Shame on you LastTear, you just made me spill coffee on my blouse from laughter. Now, I'm walking around the office with a big wet splot on my blouse having tried to get the coffee out before it stains. But it was worth it. Thanks for the big giggle.
 
Yes Michael knew who to put in charge of his estate. Now these billionaire kids do not need a hand out of 100,000.(replay)
 
gerryevans said:
Shame on you LastTear, you just made me spill coffee on my blouse from laughter. Now, I'm walking around the office with a big wet splot on my blouse having tried to get the coffee out before it stains. But it was worth it. Thanks for the big giggle.
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Your welcome, yes I was feeling a little :evil:

I figured I was allowed as strictly speaking she was not part of the Jackson family. :hysterical:
 
ADKIc3mAnX said:
The Michael Jackson Estate shouldn't give the family so much money at least not no $30,000,000.00 in one shot
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They don`t get it. 20 % goes to charity, 40 % in the Kathrine Jackson trust, but she becomes further only her allowance, after her death the moeney from her trust goes to her childreen, 40% goes in the Michael Jackson Childreen Trust ( MJ`s Kid`s becomes money with 21, 30, 35 and all of the Estate with 40)
 
Well jermaines was right (we are bad people for doubting him, slaps self on wrist). According to the daily mail interview, Mrs J doen't want to sell hayvenhurst, it's just that she doesn't want to live there.
 
Bonnie Blue said:
Well jermaines was right (we are bad people for doubting him, slaps self on wrist). According to the daily mail interview, Mrs J doen't want to sell hayvenhurst, it's just that she doesn't want to live there.
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And that puts the estate in a very awkard position doesn't it. We can all be sentimental but unless it can make money then whats the point, it would cost huge amounts each month for the upkeep, and that money is coming directly from the childrens inheritance.
 
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