Michael Jackson Executors Want 10%

Maybe someone should explain exactly what the executors do, and the role they have had in Michael's affairs during his lifetime, because some people don't seem to understand what their job is.


Thats now hard its in the dictionary; but since Im not looking at one right now; an "Executors" job in layman terms is to "Manage the Estate Money" Great Job isnt it when its Michael Jackson's Money, I would say whomever got this job dont have to work another day in their life or their children would ever have to work or their grandchildren or the great grandchildren Wow! it would never stop, everything they do falls up under that. Like someone wrote last year "if you job a bank the money will run out sooner or later but if you rob Michael Jackson the MONEY will never run out". Oh I forgot they do have another job STOP ANYONE ELSE from becoming EXECUTOR thats their Job.
 
Maybe someone should explain exactly what the executors do, and the role they have had in Michael's affairs during his lifetime, because some people don't seem to understand what their job is.

In an estate as Michael Jacksons, the executors have several jobs at hand.

Executors are responsible for putting it all together. They are the ones who do the 'filing' of the paperwork through their lawyers. They keep the records straight.

In this particular estate it is their job to figure out what are the assets and what are the expenses (bills due). They go through all the books of what has been paid and what has not.

They have to manage all of Michaels properties. For instance, he only part owns Neverland and the interest rate on the mortgage can be renegotiated or reduced. They would be the ones selling off any properties or investments if necessary and moving that money around to generate more money for the estate.

Thats a very basic explanation but you have Hayvenhurst to pay for each month. (reported 100,000.00 a month to run) Any other real estate that Michael owns can either be sold or paid off. In a case such as Neverland, it is just sitting there vacant and unless it is going to be used, its best off being sold. He would still have to pay taxes on that property. He also owned other properties if I am not mistaken.

The idea is to also promote his 'name' and release his music wisely to generate more income to his music business.
 
Thats now hard its in the dictionary; but since Im not looking at one right now; an "Executors" job in layman terms is to "Manage the Estate Money" Great Job isnt it when its Michael Jackson's Money, I would say whomever got this job dont have to work another day in their life or their children would ever have to work or their grandchildren or the great grandchildren Wow! it would never stop, everything they do falls up under that. Like someone wrote last year "if you job a bank the money will run out sooner or later but if you rob Michael Jackson the MONEY will never run out". Oh I forgot they do have another job STOP ANYONE ELSE from becoming EXECUTOR thats their Job.

So, you think a family member would do a better job of managing the estate?
 
MJ#1whoisit - I'm talking about what they have to do day by day to manage the estate.
 
So, you think a family member would do a better job of managing the estate?


See I believe thats where people are getting confused "what job is there to do now" EXCEPT PIMP Michael. I believe what the Jackson Family would have done is what I would want my family to do is "NOTHING", let my Music sell itself and let my Children own the Estate at 25, trust me with all I believe Michael would have never wrote up a WILL that caters to Manages Pimping me after Im dead in Videos, Movies, DVDs, Shirts, Stickers, etc, etc, My Family would be SATISFIED with the work I had already done, not making me work like a slave after Im Dead.



MJ#1whoisit - I'm talking about what they have to do day by day to manage the estate.


Nothing. If they are not in a meeting telling people not to do this or go do this what is there to do? An Estate is not run like a Car and if it is it can Idle till it run out of gas. The Executors are MAKING all this HAPPEN.
 
In an estate as Michael Jacksons, the executors have several jobs at hand.

Executors are responsible for putting it all together. They are the ones who do the 'filing' of the paperwork through their lawyers. They keep the records straight.

In this particular estate it is their job to figure out what are the assets and what are the expenses (bills due). They go through all the books of what has been paid and what has not.

They have to manage all of Michaels properties. For instance, he only part owns Neverland and the interest rate on the mortgage can be renegotiated or reduced. They would be the ones selling off any properties or investments if necessary and moving that money around to generate more money for the estate.

Thats a very basic explanation but you have Hayvenhurst to pay for each month. (reported 100,000.00 a month to run) Any other real estate that Michael owns can either be sold or paid off. In a case such as Neverland, it is just sitting there vacant and unless it is going to be used, its best off being sold. He would still have to pay taxes on that property. He also owned other properties if I am not mistaken.

The idea is to also promote his 'name' and release his music wisely to generate more income to his music business.

Thank you.

I know Branca helped generate money for Michael when he was alive, I don't know much about McClain.

The two go way back, having worked together during Michael's heyday in the 80's and 90's. Branca is often credited with negotiating for Jackson one of the most lucrative recording contracts in history.
Neither man is unknown to the Jackson family. During more than 20 years as the pop superstar’s lawyer, Branca, 58, was a principal architect of Jackson’s financial empire, having brokered the deal for the Beatles catalog of records; obtained the rights to master recordings of Jackson’s own songs; and negotiated the purchase of Jackson’s Neverland estate.

He represented the Presley estate for a time, but in 1980 his world changed when an intermediary asked him to meet with Michael Jackson. “Michael was either 21 or about to turn 21 when I met him and he had never had his own (legal) team,” he said. “‘Off The Wall’ had come out and it was a big hit.”


They bonded immediately.
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“He said, ‘Do I know you?’ It was one of those things you have in life where you feel so comfortable with a person you actually feel you do know them. The conversation is easy and the connection is effortless.”


He met Jackson’s parents briefly, and remembers Mrs. Jackson saying, “Michael, I don’t know if he’s old enough to be a lawyer.”


They were both in their 20s and about to make rock ‘n’ roll history.


Branca shepherded Jackson through the phenomenal success of the “Thriller” album in 1982 and negotiated the groundbreaking “Thriller” video — as well as a video about the making of the video. And contrary to other versions of the story, he said it was Michael’s idea to buy the Beatles catalog after Paul McCartney told Jackson he was investing in buying copyrights to famous songs.

Before bidding, he said he checked with Lennon’s widow Yoko Ono and McCartney’s lawyer and brother-in-law John Eastman to see if they were interested. They were not. It took a year of bidding against others — including British industrialist Richard Branson — before he closed the deal. In 1995, he merged it with Sony to create one of the largest such collections in the world.

In earlier years, Branca also helped Jackson obtain the rights to his recording masters and brokered the purchase of Neverland Ranch, originally offered for $60 million, for a final price of $17.5 million, including all furnishings.


Those deals helped transform Jackson from a rich pop star into a man of extraordinary wealth, and turned Branca’s career in the direction of buying and selling music assets. (He recently negotiated the sale of the Rodgers and Hammerstein catalog for $200 million.)

That other kind of pitch came as Michael Jackson was making the music video for "Thriller." Such projects back then cost about $50,000. Jackson was letting his inspiration run free to the tune of $1 million. That raised the question of how he was going to pay for it. Branca had an inspiration of his own.
"He suggested we make a separate video filmed by somebody else about the making of the 'Thriller' video," Jackson recalled in his autobiography. "It seemed odd that no one had ever thought of this before."
Branca pitched the idea to MTV and Showtime. He came back with $1.2 million in financing.
The deal still might have fallen apart because Jackson's mother was a Jehovah's Witness and some of her fellow congregants suggested he was supporting evil by appearing as a werewolf.
Jackson was reportedly poised to scratch both the video and the video about the video when Branca pitched another idea, this one to the star. Branca noted that Bela Lugosi had resolved religious misgivings about portraying Dracula by insisting on a note at the start of the film saying he was in no way pro-vampire.
Jackson added a similar note regarding werewolves. The project went ahead, and "The Making of Thriller" video sold more than a million copies. Album sales spiked by 14 million, bringing the total to more than 40 million, the biggest of all time.
"The success of 'The Making of Thriller' was a bit of a shock to all of us," Jackson wrote. "A dream come true."
The success is credited with elevating music video production to another level, along the way indelibly imprinting images of Jackson on the national psyche.
Of course, any deal would have been worthless without Jackson's talent, but Branca did play a part in changing music history,


Read more: http://www.nydailynews.com/entertainment/michael_jackson/2009/07/02/2009-07-02_michael_jackson_turned_to_old_friend_and_entertainment_lawyer_john_branca_in_tim.html#ixzz0dSn4aAGd
Do the executors have to deal with all these endless claims against the estate too? Branca is an entertainment lawyer isn't he.
 
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Thank you.

I know Branca helped generate money for Michael when he was alive, I don't know much about McClain.

Do the executors have to deal with all these endless claims against the estate too? Branca is an entertainment lawyer isn't he.


Actually I believe Branca is a very Bitter Revengeful Person because Michael Fired him TWICE, so he's gotten his revenge. Yes he should go in and clean up what he created but thats no problem for him he knows exactly what to do, I still believe Dick Gregory talking with Michael when he sayed "they created all these Debts" which is called in a sense "Insider Trading" kinda like in Stocks, I give you a "Fake" Bill of Sales you pay me and we split the Money, no real Sell no real Debt, in the business world its called "Embezzlement". But really what this is called in the Business World its called "A Hostile TakeOver".
 
this section of the board is not for conspiracy theories.take it to the right section.this is for discussion based on the facts
 
Thank you.

I know Branca helped generate money for Michael when he was alive, I don't know much about McClain.

Do the executors have to deal with all these endless claims against the estate too? Branca is an entertainment lawyer isn't he.

presume so. branca is a part of a lawfirm that cover different things so i guess they take care of al lthe lawsuits that were not already being delt with by other counsel
 
See I believe thats where people are getting confused "what job is there to do now" EXCEPT PIMP Michael. I believe what the Jackson Family would have done is what I would want my family to do is "NOTHING", let my Music sell itself and let my Children own the Estate at 25, trust me with all I believe Michael would have never wrote up a WILL that caters to Manages Pimping me after Im dead in Videos, Movies, DVDs, Shirts, Stickers, etc, etc, My Family would be SATISFIED with the work I had already done, not making me work like a slave after Im Dead.

Nothing. If they are not in a meeting telling people not to do this or go do this what is there to do? An Estate is not run like a Car and if it is it can Idle till it run out of gas. The Executors are MAKING all this HAPPEN.

So, basically, you are saying to just let it all go and then when they run out of money, thats that and the children would be supported by the family then?
 
See I believe thats where people are getting confused "what job is there to do now" EXCEPT PIMP Michael. I
u really dont have a clue about an estate and how it is run.
 
this section of the board is not for conspiracy theories.take it to the right section.this is for discussion based on the facts





Michael Jackson Sues Accountants for Failing to Pay His Bills Properly


LOS ANGELES — Michael Jackson is suing his former accountants, claiming they withdrew US$2.5 million a year from his bank accounts but did not properly pay his bills.

The suit by Jackson and MJJ Productions Inc. was filed Thursday in Los Angeles Superior Court against Bernstein, Fox, Whitman, Goldman & Sloan, alleging negligence and breach of fiduciary duty.

An after-hours call Friday to the Los Angeles-based accounting firm was not immediately returned.

The suit asks for unspecified damages and for an accounting of money the defendants received for services.

Jackson hired the firm in 2003 for bookkeeping, opening bank accounts and filing personal, corporate and real estate taxes, the lawsuit stated.

However, Jackson alleges the accountants hired people and entered into contracts on his behalf without getting his permission.


http://www.foxnews.com/story/0,2933,238482,00.html
 
Nothing. If they are not in a meeting telling people not to do this or go do this what is there to do?

executors do nothing? really? want to rethink that?

This is generally what executors do

1- Perform an inventory of the deceased's assets. This involves locating and making a record of everything the person owned, including investments. If there are antiques, artwork, collections or other valuables, appraisals will need to be obtained. - this will be a huge task for the MJ's estate
2. Locate heirs. - this does not apply to MJ
3. Give notice of the death to institutions where the deceased had accounts. Some states may require putting a legal notice in the newspaper notifying creditors that they need to make a claim. - yes they are responsible for the management of the claims as well. they are responsible for managing/ evaluating and paying the claims made against the estate. and as you know there have been several claims against MJ ranging in the millions of dollars.
4. Petition the court to probate the will.
5. Safeguard the assets of the estate, which includes paying outstanding bills, managing any investments, making necessary repairs to keep the family house in good condition, keeping needed insurance in force and keeping the heirs from walking off with the personal property until probate is completed. - in other words they are running / paying for all the existing businesses, properties
6. Prepare and file the federal estate income tax return, which is due nine months after the person died. File it late or screw it up and there can be penalties, for which the executor is personally responsible.
7. File their last tax return.
8. Distribute the remaining assets to the heirs as per the instructions in the will.
9. Possibly be responsible for arranging for the care of minor children, or handling their money for several years.

furthermore in MJ's case they also engage in current and future business ventures such as TII, OPUS, Bravodo merchandise deal probably release of future albums and also have to deal with any disputes against the estate (Joe's lawsuit).

Oh yeah they do nothing!!! Of course I'm being sarcastic.
 
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Michael Jackson Sues Accountants for Failing to Pay His Bills Properly

The suit by Jackson and MJJ Productions Inc. was filed Thursday in Los Angeles Superior Court against Bernstein, Fox, Whitman, Goldman & Sloan, alleging negligence and breach of fiduciary duty.

so that you realize that this is an accounting firm that has nothing to do with Branca? (Branca's law firm is called Ziffren Brittenham LLP). How this is relevant to any of the discussion here?
 
Michael Jackson Sues Accountants for Failing to Pay His Bills Properly


LOS ANGELES — Michael Jackson is suing his former accountants, claiming they withdrew US$2.5 million a year from his bank accounts but did not properly pay his bills.

The suit by Jackson and MJJ Productions Inc. was filed Thursday in Los Angeles Superior Court against Bernstein, Fox, Whitman, Goldman & Sloan, alleging negligence and breach of fiduciary duty.

An after-hours call Friday to the Los Angeles-based accounting firm was not immediately returned.

The suit asks for unspecified damages and for an accounting of money the defendants received for services.

Jackson hired the firm in 2003 for bookkeeping, opening bank accounts and filing personal, corporate and real estate taxes, the lawsuit stated.

However, Jackson alleges the accountants hired people and entered into contracts on his behalf without getting his permission.


http://www.foxnews.com/story/0,2933,238482,00.html

and what does that article have to with this thread?
 
so that you realize that this is an accounting firm that has nothing to do with Branca? How this is relevant to any of the discussion here?

thats what im wondering lol
 
presume so. branca is a part of a lawfirm that cover different things so i guess they take care of al lthe lawsuits that were not already being delt with by other counsel

Ok, thank you. Well they have a lot to deal with that too :/

MJ#whoisit - Have you read this? I think you should... court documents -

http://www.radaronline.com/sites/default/files/Michael%20Jackson%20Probate%201-22z_0.pdf

Michael's estate needs to be managed so it is a strong and relevant brand that lasts for generations and generations to come, and to benefit generations of Michael's beneficiaries ie.) the future kids of the kids. It doesn't run itself, it need experienced people. Its Branca's job. The family would be lost.
 
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Michael Jackson Sues Accountants for Failing to Pay His Bills Properly


LOS ANGELES — Michael Jackson is suing his former accountants, claiming they withdrew US$2.5 million a year from his bank accounts but did not properly pay his bills.

The suit by Jackson and MJJ Productions Inc. was filed Thursday in Los Angeles Superior Court against Bernstein, Fox, Whitman, Goldman & Sloan, alleging negligence and breach of fiduciary duty.

An after-hours call Friday to the Los Angeles-based accounting firm was not immediately returned.

The suit asks for unspecified damages and for an accounting of money the defendants received for services.

Jackson hired the firm in 2003 for bookkeeping, opening bank accounts and filing personal, corporate and real estate taxes, the lawsuit stated.

However, Jackson alleges the accountants hired people and entered into contracts on his behalf without getting his permission.


http://www.foxnews.com/story/0,2933,238482,00.html

First of all, that is an ACCOUNTING FIRM. Branca is with a law firm.

As one of the preeminent entertainment and corporate lawyers in the US today, John Branca is one of the few attorneys to be included in every edition of Best Lawyers in America. Branca, a member of Who’s Who, is also included on every other list of the premier lawyers in the world and the entertainment industry.

A partner in the law firm of Ziffren Brittenham LLP, Branca has represented an unprecedented 29 members of the Rock and Roll Hall of Fame, including Aerosmith, The Beach Boys, The Bee Gees, The Doors, Fleetwood Mac, Berry Gordy, Michael Jackson, Leiber and Stoller, The Rolling Stones, and Carlos Santana, among others.

Primarily focused on the music and live appearance industries, Branca has facilitated and initiated game-changing deals involving the purchase and sale of recorded assets and music publishing catalogs.

Passionate about helping artists get a fair shake in the music industry, he has helped songwriters regain copyrights of their songs as well as securing lost royalties for artists.

Branca is a board member of many charities, including serving as Chairman of Musicares, which provides help to members of the music community who need treatment for drug and alcohol addiction, as well as assistance for other financial, medical and personal crises.
 
and what does that article have to with this thread?




Well lets see, he who has an eye to see let him see; Branca worked for Michael from 1983/85-1990 and 1993-2006. So lets try to stay calm because I know how this is gonna end but at lease as you said use the FACTS we have forever in HiStory, since these long complex descriptions of an Executor's Job which was once a Manager have been bought out to make its seem complex when it all boils down to still like I said to "handling of the Money" no matter how you spell it. Why would a GREAT Manager as he is called during these dates let his client get in debt ? that as Michael have on file in his Court Petition "he didnt know about" , certainly a Good Manager would have known about these debts from his ACCOUNTING FIRM wouldnt he ? because all Michael Jackson debts was gotten when Branca was MANAGER, as Katherine describe in her first Petition against him in July, does this bring you any closer in those 6 degrees of Seperation ?
 
branca wasnt his manger he was an entertainments lawyer that was invovled in doing entertainment deals such as buying the sony/atv.he wasnt invovled in paying the day to day bills. even more so when he wasnt even working for mj then that was randys doing. everything went tits ups when branca left and he wasnt working for mj when randy hired whitman and co. branca left becasue of the likes of weisner and co that came on board in the early 00's as mjs manager. u need to stick to the IU. wrong info doesnt matter there.
 
Well lets see, he who has an eye to see let him see; Branca worked for Michael from 1983/85-1990 and 1993-2006. So lets try to stay calm because I know how this is gonna end but at lease as you said use the FACTS we have forever in HiStory, since these long complex descriptions of an Executor's Job which was once a Manager have been bought out to make its seem complex when it all boils down to still like I said to "handling of the Money" no matter how you spell it. Why would a GREAT Manager as he is called during these dates let his client get in debt ? that as Michael have on file in his Court Petition "he didnt know about" , certainly a Good Manager would have known about these debts from his ACCOUNTING FIRM wouldnt he ? because all Michael Jackson debts was gotten when Branca was MANAGER, as Katherine describe in her first Petition against him in July, does this bring you any closer in those 6 degrees of Seperation ?
The firm he was suing were in association with Randy Jackson.
That greedy son of a Joe that is after the estate, the same one who blackmailed Michael along with his business associate and pressured him into signing the Sony ATV catalog off. Your arguments go flying out of the window, nothing but a whole load of bull and nonsense, IU would be the right place for you.
 
You don't remember ...because there is no such thing in the will. NO AMOUNT OR PERCENTAGE IS LISTED IN THE WILL.

GO BACK AND RE-READ THE WILL.
Yes there was a breaking down of the % that branca and mcclain would recieve i read that so did the poster that remember it as 3% it was not 10%, I am looking for the section of the will that state the children get 40% katherine get 40% and charity get 20% to see is that were it is written about the percent that the executive of the estate get.
 
this thread gets funnier by the minute. As several person before me said Branca was not Michael's manager. His job was limited to being an entertainment lawyer that included tasks such as buying of the ATV catalog, merger of Sony ATV, negotiation of royalties from MJ's music etc.

During 2003 Michael was managed by Dieter Wiesner (see http://www.dieterwiesner.com/michaeljackson.html). Later during the trial he did not have any manager, Randy did most of his job dealings. So MJ#1WhoIsIt you might want to blame Dieter Weisner and/or Randy J. for the dealings with this accounting firm.
 
Branca was not his manager. he was his lawyer (for music interests)


lol; Yes you are Right, dont leave out Branca first title "Estate Planner" and from the looks of it he has never forgotten those skills, I can say he's a man of Many Talents, I guess this could go on all day but its becoming boring now, the handwriting is on the wall as they say it all comes out in the wash, facts being what they are and continuing to stick to the facts, Im sure we ALL just want who's responsible for causing Michael Jackson's Murder to receive their Just Reward, whatever the Executor's get 10% or whatever Im sure they deserve what they will get; one thing we all can say John Branca knows his True Calling, I guess we all will just have to wait another day or at least on LA's County DA.


"While working as an estate planner at the firm of Kindel & Anderson, Branca came across a Time Magazine profile of Elton John which mentioned entertainment lawyers. Branca realized that this field of law was his true calling.

http://en.wikipedia.org/wiki/John_Branca
 
Yes there was a breaking down of the % that branca and mcclain would recieve i read that so did the poster that remember it as 3% it was not 10%, I am looking for the section of the will that state the children get 40% katherine get 40% and charity get 20% to see is that were it is written about the percent that the executive of the estate get.

Once again there's not such % on the will. The percentages reported from katherine, kids and charity are reported based on the trust by TMZ and such sites but no one saw or knows the full details the actual trust as it is private.

3% is the amount of payment seen as kinda industry standard in regular sized estates - it is the minimum amount that most banks charge for the duty or being an executor. But it is not a set amount as different states can have different amounts at their own trust laws and/or size of the estate can grant higher payments. It is possible that media reported that they would get "at least" or around 3% as it is seen in practice but by no means it is number determined or mentioned by Michael.
 
The firm he was suing were in association with Randy Jackson.
That greedy son of a Joe that is after the estate, the same one who blackmailed Michael along with his business associate and pressured him into signing the Sony ATV catalog off. Your arguments go flying out of the window, nothing but a whole load of bull and nonsense, IU would be the right place for you.
How can you blame randy for the law firm that michael was suing? randy dont work for that firm, you cant blame randy and the jackson family for every thing you dont like, just dont make any sense, when you should look at the fact that branco work for that firm. thats what obvious.
 
How can you blame randy for the law firm that michael was suing? randy dont work for that firm, you cant blame randy and the jackson family for every thing you dont like, just dont make any sense, when you should look at the fact that branco work for that firm. thats what obvious.
Please inform yourself about this issue. :)
 
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