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Michael Jr, Paris & Prince to start taking over estate when each turn 30

It's not actually known who leaked it, as far as I know Oxman is the main suspicion. I'd put money on it being him to be honest.
 
blankyluvdoodoo said:
so there is no news about who leaked it or if estate is taking any action about it? :thinking:
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It's hard to take any legal action without knowing (or have proof) who actually leaked it.. Law allows room for media to protect their sources..
 
How would releasing that document be of benefit to someone who

is claiming the will to be fake ( Brian)?
 
brian aint clever enough to realise that lol considering the tone of the article ie crying casue the family havnt got anything.then its come from someone on that side. randy/oxman etc and oxman seems to have a histroy over the last few months of leaking stuff to the NOTW
 
rainny said:
How would releasing that document be of benefit to someone who

is claiming the will to be fake ( Brian)?
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as far as his (well Joe's ) lawsuit against the will goes, this makes no difference as the court / judge already knew the trust. You and me seeing the trust document will not change/ affect the legal outcome..

Plus he can always release it and then claim it's fake/invalid as well..
 
ivy said:
as far as his (well Joe's ) lawsuit against the will goes, this makes no difference as the court / judge already knew the trust. You and me seeing the trust document will not change/ affect the legal outcome..

Plus he can always release it and then claim it's fake/invalid as well..
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Thank you, Ivy.

The judge already knew the trust, but Oxman/Joseph have been asking for the

support of the fans. I would think that now some of the people who were

thinking the will to be fake will give it a second thought.

Brian expecting the fans to believe that the trust is also fake after releasing

the document would be stretching it a bit too far on his part. Wouldn't it? LOL

Well, we're talking Brian Oxman, so who knows what he thinks or even if he

does at all.
 
Until they are 21 the children are also getting shares from the net income. When 21 they can apply for their benefit - meaning when they are 21 they can request to get their full share (in other words get the money from the estate and the executors). If they do such a request they get 1/3 of the principal when they are 30, 1/2 of the principal when they are 35 and remainder of it when they are 40.
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so 21 is the earliest age they can ask to start getting a % of the money left to them?but if the request is agreed to they aonly start getting the % at the age of 30? until they are 30 they will keep getting what they get now ie an allowance? can the kids request that the allowance go up? and at what age can they do that. and ontop of that if they need xtra money they can ask for that aswell.

now those % mean income but what is it interms of actual control of the estate ie they take over making decisions from branca etc will that ever happen?
 
elusive moonwalker said:
so 21 is the earliest age they can ask to start getting a % of the money left to them?but if the request is agreed to they aonly start getting the % at the age of 30? until they are 30 they will keep getting what they get now ie an allowance? can the kids request that the allowance go up? and at what age can they do that. and ontop of that if they need xtra money they can ask for that aswell.

now those % mean income but what is it interms of actual control of the estate ie they take over making decisions from branca etc will that ever happen?
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Read post # 14....

Their allowance has been increased twice since last June, so I am pretty sure as they grow up and get more expenses, their allowance will reflect that.
 
If the Beatles catalog is worth $1 Billion in 17 years when Prince turns 30, and the children control 1/3 of their portion of the estate principal at age 30, that seems to mean that for instance Prince when he turns 30 will control or receive 1/9 (1/3 x 1/3) of the Beatles catalog. Just wondering how that is going to work from a practical standpoint. Michael never wanted to sell the Beatles catalog. Or how they would divide up the Beatles catalog among the 3 children. The same could be said for Neverland. Unless of course, all 3 children wanted to retain the status quo. But in the real world, that might to difficult to achieve, everyone has different ideas about how to run things. If this has been covered in another post, excuse me, I didn't read every one.
 
elusive moonwalker said:
so 21 is the earliest age they can ask to start getting a % of the money left to them?but if the request is agreed to they aonly start getting the % at the age of 30?
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correct

elusive moonwalker said:
until they are 30 they will keep getting what they get now ie an allowance? can the kids request that the allowance go up? and at what age can they do that. and ontop of that if they need xtra money they can ask for that aswell.
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they'll be getting an allowance/ income from the estate until they are 30. The amount can definitely be increased (as long as the estate is in probate they need judge's approval). executors is supposed to provide them enough money suitable for their lifestyles, cover their expenses as well.

and yes they can always ask for extra money - no age limit on that. The trust explicitly says life related expenses such as education, marriage, buying property and opening and participating in business.

elusive moonwalker said:
now those % mean income but what is it interms of actual control of the estate ie they take over making decisions from branca etc will that ever happen?
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I have heard at other places that people claiming that they are only getting money and not the assets however this is not true. When you look to what they are getting at 30-35-40 years old the term used is "trust estate"..

the below is the explanation of legal jargon

The property that is transferred to a Trust becomes the Trust estate (also called the Trust corpus, Trust res, or Trust principal). A Trust estate consists of all of the property, rights, and obligations that are transferred to the Trust.

All real or personal assets transferred to the trustee(s) under a trust agreement as the body or object of the trust. Also called trust assets, trust corpus, trust estate, trust fund, trust object, or trust res.
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so if you read the document you'll see that

- until 30 years old they get their share from "income" - meaning they only get money
- starting 30 years old they get their share from "trust estate" - meaning that they get ownership of the property and assets in the trust.


note: I'm not an estate lawyer but that's how I read it.
 
Re: Michael Jr, Paris & Prince will start taking control of their father's estate when each turn 30

Dangerous Incorporated said:
I'm confused. In the beginning it says MJ is both trustee & trustor? Then when it says that should the trustor be declared mentally or physically incompetent, the trustee will do...... and describes what the trustee will do. How can that be if they are the same person?

Joseph again!
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His official middle name is Joseph.

http://www.youtube.com/watch?v=bDX7rrLtcL8
 
I always knew Michael knew what he was doing with his finances. These documents prove this. I think giving the MJ3 access to their money at 30 is a very shrewd idea.
Love you and miss you MJ.
 
Re: Michael Jr, Paris & Prince will start taking control of their father's estate when each turn 30

elusive moonwalker said:
yeah this keeps croping up and its been said many times by usa fans that in cali or the usa as a whole shortened versions of the name can be used on legal docs the same as the full name.both are accepted
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I don't understand why DI keeps bringing it that up...as a long time MJ fan, she should know his LEGAL name .

And it has always been Joseph...sometimes they use the shortened Joe or only the initial J.

What stan doesn't know MJ's legal name? Geeeezzzz
 
I don't understand why DI keeps bringing it that up...
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cause he/she is into the conspiracy stuff and use that as some sort of evidence that things are fake
 
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elusive moonwalker said:
cause he/she is into the conspricay stuff and use that as some sort of evidence that things are fake
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well, it is not evidence supporting the conspiracy if we know it is not true.

She should pick up Michael's autobiography. I might have very poor memory, but I think he wrote his full name in that book.


I give up this ish.
 
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Memefan said:
well, it is not evidence supporting the conspiracy if we know it is not true.

She should pick up Michael's autobiography. I might have very poor memory, but I think he wrote his full name in that book.


I give up this ish.
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elusive moonwalker said:
cause he/she is into the conspiracy stuff and use that as some sort of evidence that things are fake
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Guys don't bring up any conspiracy related stuff. I know you guys aren't discussing it but just don't bring it up in here.
 
not bringing anything up. there is no converstion on it. answering a question nothing more
 
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