Posted on 07/06/2009 8:02:08 AM PDT by COUNTrecount
LOS ANGELES -- Michael Jackson's family wants a judge to delay a hearing Monday to designate two men listed in the pop superstar's will as temporary administrators of his estate so that they can look deeper into his affairs, a person close to the family said.
The family also wants the additional time to wait and see if another will emerges, as well as to accommodate Jackson's memorial service Tuesday, said the person, who spoke on the condition of anonymity because the person was not authorized to speak publicly.
The person said Sunday that the family wants the delay in naming two men, attorney John Branca and music executive John McClain, who are designated in a five-page will filed Wednesday as administrators to shepherd Jackson's estate into a private trust.
Jackson's mother, Katherine Jackson, was granted some limited powers over the singer's estate days after his death. But because Branca and McClain are named as executors in the 2002 will, it's expected that they would be granted more authority to oversee Jackson's estate, estimated in court filings as being worth more than $500 million, in Monday's scheduled hearing.
Jackson's mother and those close to her want "time to further investigate the circumstances and individuals that were surrounding Michael Jackson during his final days," the person close to the family said.
In court filings, attorneys for Katherine Jackson ask Los Angeles Superior Court Judge Mitchell Beckloff to delay naming Branca and McClain as the estate's administrators. Attorneys for the two men argue their appointment is crucial to controlling Jackson's diverse financial interests and its liabilities, which include refunds due on a series of London concerts that have been canceled, and several lawsuits.
(Excerpt) Read more at nypost.com ...
Insert the phrase “money grubbing father” at each point where the word “family” is used and the article makes a lot more sense.
This is so improper. Unless a later will/trust has popped up the court would be derilict in its duty not to appoint these men as so stated in the will.
Unless the Jackson’s can bring forth evidence at the hearing, these men should be appointed post haste.
Those children will have nothing left after these leeches get hold of his money. In a lot of ways, I can kind of understand why Jackson was so weird. The people who were supposed to love him unconditionally saw him as a money tree. Very sad.
Another dead celebrity... another money-grubbing family. I hope a judge throws out this request and honors Jackson’s will as stated.
And what was up with those moving vans, looting the place the very day after he died? Reports were that they were hired by Janet Jackson.
According to the will, the two executors are suppose to give everything to his mother and children anyway.
Don’t see where this will make a difference.
Trusts for children can have a lot of limits, especially in California (see Olsen twins, Caulkins, etc.). In some cases the guardian is not allowed much access except for specified allowances. Depending on how the trust operates, the children’s portions may be virtually untouchable until they reach majority age.
Where there’s a will there’s a relative.
But absolutely nothing to the father. I'm sure he would like to have the executor under his control, for starters.
You're supposted to put your assets into Trust before you die and name a successor trustee to replace yourself in the trust.
Since there is no executor named and the "family" is petitioning a Judge, guess what court we are talking about??? It's called Probate.
This means that if the estate is trully worth millions, ZeroBama and Arnold are going to want about 60% of it.
You got that right. Watching his slimy father slink around---promoting himself and a record label---as his son lies dead is nauseating.
No wonder Michael was weird---- one story has his father dressed in a fright mask entering little Michael's room through a window as he lay sound asleep---then shreiking and screaming----scaring the dayights out of the little boy. Daddy Dearest also supposedly hung Michael upside down and beat him if he did not do as he was told.
Its my understanding that the perv had about a half a billion dollars in debt. Wouldn’t the people/institutions he owes money to have first crack at his estate, leaving nothing, when the dust settles?
This is going to be in the news for years to come.
His parents are still married in a common law California state.
Also, we do not know what the Trust says as the will only stipulates the rules of the Trust to be maintained. He may have an allowance to his father in the trust.
We just don’t know.
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