MsMo
Proud Member
- Joined
- May 21, 2006
- Messages
- 2,527
- Points
- 0
Speculations and so-called insider sources only...but IF true, I like the idea.
By James Desborough, 21/11/2009
Michael Jackson's nephew Taj has been secretly invited onto the board of executors looking after the star's $1bn fortune. Tito's son Taj, 36, has been asked by administrators John McLain and John Branca to decide on how to distribute his cash.
The deal - done behind closed doors - came hours after Katherine Jackson dropped challenging Michael's estate last week. Insiders say the move was "a trade off " to keep upset Katherine from months of legal battles against the will.
Music producer Taj will act as a voice for Paris, Prince Michael and Blanket in deciding on future MJ projects and deals. One insider claimed Taj - who became famous in 1990s boyband 3T - will have a veto vote.
However, Michael's furious dad Joe, 80, still wants to challenge the validity of the 2002 will, which empowered McClain and Branca to oversee his son's fortune.
This week LA Judge Mitchell Beckloff approved the estate set-up - after Katherine agreed to the set-up was fine. A source close to the family said: "Taj has been invited onto the board. It seems to be a trade off to keep Katherine from challenging the estate in the long term.
"She dropped her objection, ad now Taj will represent the family in estate matters.
"Taj is close to the children and to her grandmother, so this is a compromise to keep everyone happy. The children will have him as their mouthpiece on future decisions about their dad. "He is there to protect the family's interests."
Taj - who Michael described as his favourite nephew - has helped the three kids cope with their dad's death. The singer - who lived at Neverland in the 90s - had planned to work on a movie project after the This It Is tour. Taj said: "He had his next chapter mapped out. "He wanted to do this and get on to directing. The last words he said to me were, 'We're gong to do film after this.'"
Taj was one of the family members opposed to Michael's proposed burial at his Neverland estate, as "It brought so much pain to him."
This week Joe was rebuffed in a bid to get an allowance from the estate. Now he is determined to overthrow McClain and Branca, claiming the will was incorrectly filed. Family lawyer Brain Oxman has filed papers to the Superior court detailing inaccuracies in the paperwork. Oddly the will appeared to be signed by Jackson in Los Angeles in 2002. At the time the star was in New York. Other paperwork shows that Jackson demanded Branca resign as his lawyer in July 2002. He also ordered private investigators look into his business dealings.
Other paperwork shows that Branca banked large percentages on Jackson music and commercial deals in the 1990s. Jackson also paid Branca $15m (£11m) to sever a deal for percentage rights on the Sony/ATV catalogue. Joe says that his involvement in the will is "a conflict of interest". Another statement claims the 2002 three page will was completely inappropriate and insufficient for dad of three Jackson, who had multiple business interests.
http://www.newsoftheworld.co.uk/news/610450/Taj-Jackson-in-charge-of-estate.html
By James Desborough, 21/11/2009
Michael Jackson's nephew Taj has been secretly invited onto the board of executors looking after the star's $1bn fortune. Tito's son Taj, 36, has been asked by administrators John McLain and John Branca to decide on how to distribute his cash.
The deal - done behind closed doors - came hours after Katherine Jackson dropped challenging Michael's estate last week. Insiders say the move was "a trade off " to keep upset Katherine from months of legal battles against the will.
Music producer Taj will act as a voice for Paris, Prince Michael and Blanket in deciding on future MJ projects and deals. One insider claimed Taj - who became famous in 1990s boyband 3T - will have a veto vote.
However, Michael's furious dad Joe, 80, still wants to challenge the validity of the 2002 will, which empowered McClain and Branca to oversee his son's fortune.
This week LA Judge Mitchell Beckloff approved the estate set-up - after Katherine agreed to the set-up was fine. A source close to the family said: "Taj has been invited onto the board. It seems to be a trade off to keep Katherine from challenging the estate in the long term.
"She dropped her objection, ad now Taj will represent the family in estate matters.
"Taj is close to the children and to her grandmother, so this is a compromise to keep everyone happy. The children will have him as their mouthpiece on future decisions about their dad. "He is there to protect the family's interests."
Taj - who Michael described as his favourite nephew - has helped the three kids cope with their dad's death. The singer - who lived at Neverland in the 90s - had planned to work on a movie project after the This It Is tour. Taj said: "He had his next chapter mapped out. "He wanted to do this and get on to directing. The last words he said to me were, 'We're gong to do film after this.'"
Taj was one of the family members opposed to Michael's proposed burial at his Neverland estate, as "It brought so much pain to him."
This week Joe was rebuffed in a bid to get an allowance from the estate. Now he is determined to overthrow McClain and Branca, claiming the will was incorrectly filed. Family lawyer Brain Oxman has filed papers to the Superior court detailing inaccuracies in the paperwork. Oddly the will appeared to be signed by Jackson in Los Angeles in 2002. At the time the star was in New York. Other paperwork shows that Jackson demanded Branca resign as his lawyer in July 2002. He also ordered private investigators look into his business dealings.
Other paperwork shows that Branca banked large percentages on Jackson music and commercial deals in the 1990s. Jackson also paid Branca $15m (£11m) to sever a deal for percentage rights on the Sony/ATV catalogue. Joe says that his involvement in the will is "a conflict of interest". Another statement claims the 2002 three page will was completely inappropriate and insufficient for dad of three Jackson, who had multiple business interests.
http://www.newsoftheworld.co.uk/news/610450/Taj-Jackson-in-charge-of-estate.html
