Yes, that's what they thought at first, that Michael had no will. They didn't seem displeased with that. They were very quick to announce that Michael died without a will, so I'm assuming that's what they wanted?
Yes, Malnik said that and surely he knew he'd be required to prove it. Anyone can SAY they have a copy of Michael's will, but I don't know why someone would even say that, if they couldn't prove it? We don't know why he backed away. No one here knows that.
This seems within the realm of possibility. I'm ruling nothing out at this point, if it seems possible. Not likely, but possible. . .
If that is what happened, I wonder who was listed as executor? Just wondering.
Right. We may never know. I'm not going so far as to say the current will is not legitimate, because I have no real way of knowing, nor does anyone else on this board. However, I've wondered why there are no copies? An attorney ALWAYS makes copies of a will (as my own attorney did). It would be "normal" for Michael to have a copy in a safe somewhere in his house. Since the house was not secured, I guess we'll never know about that.
The one thing invalidating BOTH wills (unlikely to happen) would do is remove Branca and McClain as executors. They seem to have an adversarial relationship with the family as it is.
1/ if a recent will existed, there will be many people involved, lawyers, witnesses and executors, not just Malnik.
It's impossible to shut up everyone.
2/ they have an an adversarial relationship with some members of the family : Joe and Randy. Why ? Because they want to run the estate and put their hands on the money.
THose two have been doing a great job with the estate so far, stop the nonsensical bickering folksMichael Jackson Estate Pays 10% to Executors
Posted Feb 3rd 2010 6:00PM by TMZ Staff
The executors for the estate of Michael Jackson just got their 10%.
John McClain and John Branca had asked the judge for 10% of the profits made from a number of estate-related ventures.
The judge just approved the fee request.
One item excluded from the 10% - profits from the movie, "This Is It."
The judge also gave McClain and Branca the right to green light deals without going back to court every time for permission.
The judge gave McClain and Branca props for raking in the dough for the estate.
Read more: http://www.tmz.com/#ixzz0eW7J8hzJ
Compensation approved for Jackson estate admins
By ANTHONY McCARTNEY, AP Entertainment Writer – Wed Feb 3, 6:53 pm ET
LOS ANGELES – Two men administering Michael Jackson's estate will receive a total of 10 percent of the its profits minus several sizable assets, a judge agreed Wednesday.
Superior Court Judge Mitchell Beckloff approved the compensation for attorney John Branca and music executive John McClain, who have been administering the singer's estate since shortly after his death on June 25.
Branca and McClain will each receive five percent of the estate's profits, minus earnings from the recent "This Is It" movie and Jackson's interest in lucrative Sony-ATV music catalog.
Beckloff approved the arrangement after discussing it with various attorneys representing Branca, McClain, Jackson's children and the singer's mother, Katherine Jackson.
None raised any objections to the arrangement.
Howard Weitzman, an attorney for Branca and McClain, said the men would be fairly compensated but likely receive less money than if they received guideline amounts for administering Jackson's estate, which has an estimated value of more than $500 million.
"They will be fairly compensated," Weitzman said.
Katherine Jackson's attorney, Adam Streisand, agreed.
"I think that this is very reasonable," he said. "There is an incentive for the executors to grow the business and that will, of course, affect their compensation."
Weitzman noted that Branca represented Michael Jackson throughout his life and that McClain is a childhood friend of the singer.
Beckloff is retaining some oversight over the payments and scheduled a progress report for September. But he expressed faith in Branca's leadership of the estate. The judge recalled a hearing last year in which Branca testified by phone about his business connections and a deal Jackson merchandise and a memorabilia exhibition.
"I found him extraordinarily impressive," Beckloff said, noting that's not a distinction he normally draws about people from a phone conversation.
http://news.yahoo.com/s/ap/20100203/ap_en_mu/us_jackson_estate
