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The Jackson Family and The Michael Jackson Estate

CherubimII

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What do you think it would take for the Jackson Family to
reconcile their with The Michael Jackson Estate?

I think Katherine has already done so;
I really don't care. I'm just asking. :dont_mention_it:
 
Well, the Jackson family, aside from Katherine, Michael Jr, Paris & Blanket, don't have to reconcile with the estate as they are not beneficiaries.

So who cares what they think? MJ did not give a rat#$@$ about their opinions when he was around, so I hope the estate respects MJ's wishes, and continue not to give a rat@#$# about them

To answer your question, in order to reconcile the estate & the rest of the Jacksons, Branca & McClain would have to break their promise to MJ and hand over his estate to the siblings.
 
To answer your question, in order to reconcile the estate & the rest of the Jacksons, Branca & McClain would have to break their promise to MJ and hand over his estate to the siblings.
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Well then may they never reconcile. :dont_mention_it:
 
What do you think it would take for the Jackson Family to
reconcile their with The Michael Jackson Estate?
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get a pay off
 
One word: money.

Part of the family only cares about money.
 
Apart from Katherine and those kids none of them have any kind of connection or dealing with the estate. People can b*** f*** and moan, that's the way it is, and people should get used to it
 
Finally, the estate said no in January and the guardian ad litem also. There will be a hearing on May 26. Each side will present their evidence.
 
I think along with Kathreine , the 3T has a say about the Estate business ,right?
 
Ohood said:
I think along with Kathreine , the 3T has a say about the Estate business ,right?
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I don't think 3T has any say - it was reported by some tab that Taj was appointed to a board, but did not say which one. As far as I know it was never confirmed by any legit source.
 
for all we know MJ left a portion of his money to his family members...the trust is still private
 
^^^^^^^^

co-sign he left his nieces and nephews parts of his money plus his kids hopefully nothing goes down ugly in court MJ doesn't own his family no money only his kids
 
We don't know the details of the trust but we do know who the beneficiaries are: Mrs Jackson, Prince, Paris and Blanket and charities.

The cousins are named as contingent beneficiaries. In other words if something happened to PP&B before they reached majority, the contingent beneficiaries would become the beneficiaries of the trust. That is it.
 
Annie123 said:
We don't know the details of the trust but we do know who the beneficiaries are: Mrs Jackson, Prince, Paris and Blanket and charities.

The cousins are named as contingent beneficiaries. In other words if something happened to PP&B before they reached majority, the contingent beneficiaries would become the beneficiaries of the trust. That is it.
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We can't even say that for certain as we don't know the details of the trust. The trust could be written in a way that they could become beneficiaries after Katherine (get Katherine's share). Or like you said it could be written that they would only become beneficiaries if something happened to all original beneficiaries. Both are possible.

By definition contingent beneficiary One who receives the proceeds or benefits of a Trust or Estate only when a specified event occurs.
 
Randy has confirmed that after the death of Katherine, the children inherit everything:

Randy Jackson: Money, That's Not What I Want

Everyone expected the Jacksons to wage internal war over who gets what part of Michael's estate ... but Randy Jackson claims they already have enough money. Randy was reacting to our story yesterday -- revealing that Katherine Jackson's 40% cut of Michael's estate will go directly to MJ's three kids when she dies. That means the kiddies will end up with 80% of the estate -- the remaining 20% goes to charity. So Michael's bros and sisters will inherit nada.
Here's Randy's take:
"The family is fine with it. Who cares about the money? We have enough money. If I cared about the money, I'd be doing a reality show and doing interviews."
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http://www.tmz.com/2009/10/13/randy-jackson-michael-jackson-money-katherine-jackson-estate/

Katherine Jackson Won't Inherit MJ's Estate

TMZ has learned Michael Jackson intended to provide for his mother during her lifetime, but once she dies her share of the estate will go directly to MJ's three kids. As we first reported, under the trust, 40% of Michael's estate goes to Katherine. The kids get 40% and the remaining 20% goes to charity.

But we've learned ... Katherine Jackson will not get 40% outright. The trustees -- John Branca and John McClain -- decide what money should go to the beneficiaries. Katherine has no voice in those decisions.

Whatever remains in Katherine's trust when she dies goes directly to the children. Bottom line -- Katherine will get a healthy stipend for the rest of her life ... now she's getting a hefty allowance and when the trust kicks in she'll probably get more. But she will not inherit 40% of her son's estate.
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http://www.tmz.com/2009/10/12/micha...jackson-kids-inheritance-trust/#ixzz0mHnAzBHz

ivy said:
We can't even say that for certain as we don't know the details of the trust. The trust could be written in a way that they could become beneficiaries after Katherine (get Katherine's share).
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Ivy ... sorry, but saying "the trust could be written in a way that they could become beneficiaries after Katherine," do you are not contradicting the Will?

The Will of Michael says the 3T and the others cousins are named as "contingent remainder beneficiary of the Michael Jacskon Family Trust"

The Will of Michael-LINK:

http://hosted.ap.org/specials/interactives/_documents/jackson_will.pdf
 
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To answer the original question AGAIN...Katherine seems to be fine with the estate. She just convinced the execs to turn over an MJ condo to Alejandra & her spawn.


.
 
One question: Are 3T (TAJ, TJ and Taryll) the only Michael's nephews listed as "contingent beneficiary"?

I know some of Michael's cousins are also "contingent beneficiary".
 
MJStorm said:
One question: Are 3T (TAJ, TJ and Taryll) the only Michael's nephews listed as "contingent beneficiary"?

I know some of Michael's cousins are also "contingent beneficiary".
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Yes,according to court documents, 3T are the only nephews.
 
dianadebraga said:
Randy has confirmed that after the death of Katherine, the children inherit everything

Ivy ... sorry, but saying "the trust could be written in a way that they could become beneficiaries after Katherine," do you are not contradicting the Will?

The Will of Michael says the 3T and the others cousins are named as "contingent remainder beneficiary of the Michael Jacskon Family Trust"
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No I am not contradicting the will. The will says that they are the contingent beneficiaries (no arguments there) but the will does not mention after what event/condition that they would become the beneficiaries.

I just mentioned a legal possibility depending on the way the trust is written. (The trust which is private and we have not seen). I also mentioned the other possibility as well. In short I'm just trying to give general info about the law.

I know that stories but there's no requirement that says I have to believe everything that TMZ reports or Randy Jackson says.
 
ivy said:
No I am not contradicting the will. The will says that they are the contingent beneficiaries (no arguments there) but the will does not mention after what event/condition that they would become the beneficiaries.

I just mentioned a legal possibility depending on the way the trust is written. (The trust which is private and we have not seen). I also mentioned the other possibility as well. In short I'm just trying to give general info about the law.

I know that stories but there's no requirement that says I have to believe everything that TMZ reports or Randy Jackson says.
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OK, I understand what you said, I do not say amen to everything the TMZ reports too and especially what Randy Jackson says.

But the way Randy Jackson been behave since the death of Michael - especially - in relation to the Will, I really believe in this report from TMZ. And the whole answer of Randy to report did not surprise me too.
 
ivy said:
We can't even say that for certain as we don't know the details of the trust. The trust could be written in a way that they could become beneficiaries after Katherine (get Katherine's share). Or like you said it could be written that they would only become beneficiaries if something happened to all original beneficiaries. Both are possible.

By definition contingent beneficiary One who receives the proceeds or benefits of a Trust or Estate only when a specified event occurs.
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Yes you are right. There was a "report" about the contingent conditions but it is not in any document we've seen.
 
those folks especially randy, joe, toya etc wouldn't be going all gaga if they were left a dime it's obvious. but ya believe whatever u want
janet is able to take care of all her 30 nieces and nephews and 6 grand nieces/nephews as she's a multimillionaire with no one to take care off but dogs she can leave all her money to them.
 
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twinklEE said:
those folks especially randy, joe, toya etc wouldn't be going all gaga if they were left a dime it's obvious. but ya believe whatever u want
janet is able to take care of all her 30 nieces and nephews and 6 great nieces/nephews as she's a multimillionaire with no one to take care off but dogs.
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Oxman did a little interview with FoxNews, I guess it was sometime yesterday afternoon.

He started talking about the civil suit, but ended up RANTING about the estate. LOL!

He uses the word WE alot, these are some of the things he said:

"WE have no involvement in the estate on behalf of LaToya or Janet." (I wonder how Janet feels about Oxman using her name while ranting about Michael's estate.)

"It's being administrated for the benefit of the administrators and not for the family."

"It's not being done the way WE would really want it to be done."

He is also complained because none of the family is involved in the Cirque du Soliel shows, but he never mentioned that Ms. Katherine gave that deal her sign of approval.

And lastly, he talks about the ESTATE going forward with the auction which will be held in Vegas in June and how everybody is so upset, but he fails to mention that REBBIE JACKSON is also selling two items at that auction (and to my knowledge, the estate has nothing to do with that particular auction.)

Remember that movie "Dumb & Dumber," well in my opinion, Oxman could have played both parts, they didn't need two actors, all they needed was one Oxman. LOL!
 
Big Apple2 said:
Oxman did a little interview with FoxNews, I guess it was sometime yesterday afternoon.

He started talking about the civil suit, but ended up RANTING about the estate. LOL!

He uses the word WE alot, these are some of the things he said:

"WE have no involvement in the estate on behalf of LaToya or Janet." (I wonder how Janet feels about Oxman using her name while ranting about Michael's estate.)

"It's being administrated for the benefit of the administrators and not for the family."

"It's not being done the way WE would really want it to be done."

He is also complained because none of the family is involved in the Cirque du Soliel shows, but he never mentioned that Ms. Katherine gave that deal her sign of approval.

And lastly, he talks about the ESTATE going forward with the auction which will be held in Vegas in June and how everybody is so upset, but he fails to mention that REBBIE JACKSON is also selling two items at that auction (and to my knowledge, the estate has nothing to do with that particular auction.)

Remember that movie "Dumb & Dumber," well in my opinion, Oxman could have played both parts, they didn't need two actors, all they needed was one Oxman. LOL!
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LMAO@the bold part :rofl: :lol:
I agree 100% though.. Oxman is definitely soemthing else.
He's a jackass I wonder where he got his law degree from cuz it's unbelievable. the university should be ashamed of themselves for giving such a clown a degree in law.
I know, I read about that. Funny how Oxman refuses to acknowledge facts and rather opts to go by fiction (same as the oxman, randy joe ''fans'') I'm not surprised by him ignoring Katherine supporting this either, I mean that's the same man who called her despicable some 5 months ago in court..
I still remember how happy Oxmans was on June 25, to get some face time, he had this big fat grin on his face, I felt like going through the TV and slapping the living ish out of him.

As for the involvement part I wonder what kind of involvement they want? All of them are in their upper/mid 50s and not Michael Jackson
 
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