Jackson Family members demand Estate executors resign

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Comments

  • AdiAdi Posts: 1,834
    Yep Mary.....double meaning and double speak, read between the lines........especially in light of the article from last week.....what's real and what isn't:<br /><br />mjestaede.jpg<br /><br />[size=12pt]Michael Jackson's estate has made a fortune since the singer's death [/size]-- so much in fact ... it's nearly paid off $500 million in debt the King of Pop left behind when he died.<br /><br />Executors for the Estate filed legal docs -- obtained by TMZ -- which show [size=12pt]the Estate has generated gross earnings exceeding $475 million as of the end of May. [/size]<br /><br />According to the docs, [size=12pt]all of MJ's debts have been paid[/size], with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.<br /><br />It's not only good news for the Estate ... it's great news for the small army of lawyers who have been handling all the legal and business affairs.  Their fees -- from May, 2010 through November, 2011 -- exceeded $13.6 MILLION!<br /><br />[size=12pt]Two other things ... Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011.[/size]<br /><br />Final thing --There are still some unresolved creditors' claims and several lawsuits to clear up.<br /><br />All in all ... not a [size=14pt]bad [/size] turnaround. <br /><br />Michael Jackson Estate Clears MJ's MASSIVE Debt ... Almost | TMZ.com<br /><br />You go! go! go! MJ!!!  :icon_e_biggrin:<br />
  • leilani81leilani81 Posts: 484
    Am i missing some important post somewhere?<br /><br />Prince Michael's??? I thought their legal names had no "prince" in it? or has it? I need to go back and double check my memory seems to be blurring if prince is in the birth certificates
  • becbec Posts: 6,387
    Lol.<br /><br />Well of course it's nearly time for them to resign. MJ is coming back.<br /><br />Heehee.
  • hesouttamylifehesouttamylife Posts: 5,393
    Four years... that is significant even here.
  • MaryKMaryK Posts: 1,732
    on 1342618989:
    <br />Lol.<br /><br />Well of course it's nearly time for them to resign. MJ is coming back.<br /><br />Heehee.<br />
    <br /><br />sHa_yes2.gif<br /><br />picard_make_it_so_number_1_display.jpg<br /><br /> :icon_lol:
  • MaryKMaryK Posts: 1,732
    Seriously though I really hope that Mrs Jackson is doing better!  :icon_e_confused:<br />
  • I must be getting hoaxed out because I was concerned and confused by this letter but after seeing the comments here I feel better. I did think it odd that Branca would have the audacity to say he was Michael Jackson now. That doesn't seem to fit his character over the past 3 years. And the fact that they've been out in the open with fans when they haven't had to be should say something.<br /><br />I believe Branca's comment (reading between the lines) really is saying that Michael is the one that's been in control of the Estate (which we know he has to be).<br /><br />Well done Michael.<br /><br />Blessings
  • on 1342612170:
    <br /> :D<br /><br />Gotta love this.<br /><br />Seriously....anyone still not picking up on "Michael JOE" vs "Michael Joseph" must be blind  :icon_lol:<br /><br />And the family did not take any action against the forged will in three years and feel the sudden need to do it now? <br /><br />Yeah...sure....<br /><br />"THIS HAS TO STOP NOW; NO MORE!! "I AM MICHAEL JACKSON NOW......"<br /><br />Yes....you tell 'em Michael  :icon_mrgreen:<br />
    <br /><br /> :LolLolLolLol: :thjajaja121: Hello Michael!! We are waiting for you  :woohoo2: :michael-jackson:
  • loyalfanloyalfan Posts: 1,641
    Michael has given 3 years of his undivded attention to weadle out the people who betrayed and hurt him....so yes i too think he is clearing a path..............you go Michael...show no mercy to them,as they showed none to you xxxxxxxxxxxxxx
  • hesouttamylifehesouttamylife Posts: 5,393
    @Mary K - got your message but can't right now.  That function doesn't work on this computer.  If you could, would you or I can do it when I get home today.  Let me know.<br /><br />thanks
  • MaryKMaryK Posts: 1,732
    on 1342624094:
    <br />@Mary K - got your message but can't right now.  That function doesn't work on this computer.  If you could, would you or I can do it when I get home today.  Let me know.<br /><br />thanks<br />
    <br /><br />Apparently there is no such function (move a single post)<br />Please repost it to the other thread.<br /><br />Thanks<br /> :bearhug: :bearhug:
  • hesouttamylifehesouttamylife Posts: 5,393
    Can only do quick reply on this computer.  No cut, paste, smileys, move, etc. .  Will move it when I get home.
  • MaryKMaryK Posts: 1,732
    Paris Jacksoη ‏@ParisJackson<;br /><br />i am going to clarify right now that what has been said about my grandmother is a rumor and nothing has happened , she is completely fine .
  • reveron1958reveron1958 Posts: 514
    Strange. That contradicts Randy saying the letter is real<br /><br />Now look <br /><br />Paris Jacksoη ‏@ParisJackson <br />@randyjackson8 hello dear FAMILY member i don't appreciate you telling everyone things that aren't true thank you very much<br /><br />
  • It seems that piece by piece truth is getting exposed 'cause justice will prevail :bowdown: I think that now in this stage of the hoax investigations of different cases are running simultaneously. This case is probably one of those.<br /><br />
    “However, you did not hesitate writing a letter to Judge Palazuelos presiding over the AEG wrongful death case, wherein, you asked the judge to keep ALL documents handed over by AEG for discovery under court seal, clearly protecting AEG, but not protecting our mother nor our niece and nephews Paris, Prince and Blanket,” the letter contends.
    <br /><br />I've always wondered why Branca got fired and then was hired again prior to Michael's "death" :suspect: <br /><br />
    [size=12pt]A Superlawyer Returns, a Pop Icon Dies -- a Will Is Discovered<br /> [/size] <br />[size=10pt]At around 7 o'clock one evening during the third week of June 2009, John Branca arrived in Michael Jackson's dressing room at L.A.'s Fabulous Forum, where rehearsals were under way for the performer's "This Is It" concert. <br /> <br />It was their first meeting in three years. They immediately hugged, before Branca handed Jackson a letter to be signed, formally rehiring the superlawyer.<br /> <br />It was an abrupt reunion after a bitter split -- and just days before the show business legend died.<br /> <br />It was also the culmination of a 30-year-odyssey of unmatched highs and darkest lows, during which Jackson had cultivated deep distrust for the lawyer. At least twice, he fired him.<br /> <br />For his part, Branca had grown weary of Jackson’s chaotic life of profligacy, questionable advisers, crushing debt and scandal. Finally, he quit.<br /> <br /> “They hadn’t really spoken since 2006,” says CEO Randy Phillips of AEG Live, the promoter of Jackson’s “This Is It” concert series.  <br /> <br />So how did Branca’s and Jackson’s epic relation come full circle, as if according to a Hollywood script? <br /> <br />In fact, Branca had begun to seek a return to the fold no sooner than Jackson wrapped up the press conference unveiling “This Is It” in early March 2009. The lawyer phoned Phillips. ‘“I’d do anything in the world to be involved,”’ Phillips remembers Branca saying. The AEG executive was noncommittal then.<br /> <br /><br /><br />Later, however, Phillips and Frank DiLeo, Jackson’s manager from the 1980s glory days, phoned Branca. DiLeo himself had only recently been invited back onto the brain trust, exactly two decades after Jackson fired him in 1989, a year before Branca was booted for the first time.<br /> <br />By the time DiLeo returned, Jackson’s inner circle had shriveled practically to nothing -- no lawyers or accountants, for example -- with the July kickoff of “This Is It” just weeks away, DiLeo contended in an exclusive interview.<br /> <br />Only  Jackson’s then-manager, the “mysterious Dr. Tohme Tohme,” as the press sometimes described him, remained, DiLeo says. And soon Tohme Tohme’s status turned murky.<br /> <br />“Look, come back, it’s a little messed up,”’ said Jackson, as DiLeo remembers it.  <br /> <br />Phillips, too, was anxious to have Branca return to the fold. According to a well-placed music industry leader briefed on the matter, the lawyer's re-emergence appeared to lessen a potentially massive legal and financial predicament for AEG Live and Phillips.<br /> <br />Phillips was concerned that the company could be on the hook for tens of millions of dollars --productions costs, guarantees, ticket sales and more -- if the fragile Jackson were unable to perform his 50-date London run, according to the music industry leader.[/size]<br />
    read more on: A Superlawyer Returns, a Pop Icon Dies -- a Will Is Discovered | The Wrap Media,0<br /><br />I hope that Katherine Jackson has fully recovered from the mini stroke and that she's doing well  :bearhug: <br /><br />LOVE
  • AndreaAndrea Posts: 3,787
    on 1342641672:
    <br />Strange. That contradicts Randy saying the letter is real<br /><br />Now look <br /><br />Paris Jacksoη ‏@ParisJackson <br />@randyjackson8 hello dear FAMILY member i don't appreciate you telling everyone things that aren't true thank you very much<br />
    <br /><br /><br />A chip off the old block!  Michael LIVES for controversy.  :icon_mrgreen:
  • katoooooookatooooooo Posts: 371
    on 1342641672:
    <br />Strange. That contradicts Randy saying the letter is real<br /><br />Now look <br /><br />Paris Jacksoη ‏@ParisJackson <br />@randyjackson8 hello dear FAMILY member i don't appreciate you telling everyone things that aren't true thank you very much<br />
    <br /><br /><br />LOLLL is this family is going to be all agree once in this life?
  • hesouttamylifehesouttamylife Posts: 5,393
    QuoteModify<br />Executor or trustee disputes <br />                                      (This is a post from this morning that was placed in the wrong thread Posted FYI Only) <br /><br />Reasons to contest:<br /><br />The PR may not have acted in the best interests of the estate, failed to provide information or acted negligently. Other situations where people may find themselves at odds with a PR include:<br /><br />Disputes about the appropriateness of a particular investment or other administrative act.<br /><br />"Cases where a PR has a personal interest such as being a beneficiary under the will or intestacy or being a director or shareholder of a company in which the state is interested."<br /><br />Misuse of power by PR under a power of attorney, where a PR is partisan eg a friend or adviser to one of the principal beneficiaries.<br /><br />If a PR is dishonest.<br /><br />Where a PR is unreasonable.<br /><br />How long do you have to contest a will?<br /><br />There is a primary time limit for bringing inheritance claims of six months from the date of the grant of representation, but it is suggested that you do so within 6 months of the date of death. <br /><br />However, the law relating to the limitation on claims is complex and the simple message is that if you think you may want to claim, take legal advice as soon as possible. There may also need to be other urgent steps to be taken to protect your position.<br />"The time frame for contesting a Will is generally determined not by the date of death of the Testator (the person that made the Will) but rather from the date that you are served with Notice of Intent to submit the Will to Probate.  You are really filing objections to the Proabting of the Will as written.  The objection must be in writing and is usually accompnaied by a filing fee.  Each state's statute varies. <br /><br />Most people assume that a statute of limitations on contesting a will would begin counting down from the day of the person’s death. This isn’t so, and in fact, a full FOUR YEARS are allowed to pass between the death and the probate of the will. Thus theoretically, six years could pass between the death itself and the filing of a contest to the will. <br /><br /><br />THIS IS JUST FOR YOUR INFORMATION
  • MaryKMaryK Posts: 1,732
    What I have noticed, looking around on FB and Twitter, is that this latest development is infuriating parts of the fan community and those people who accuse the siblings of dishonest motives are back at the forefront again.<br /><br />Slander of the Jackson family (well at least part of it) became an issue again.
  • reveron1958reveron1958 Posts: 514
    Branca and McClain released a prompt statement refuting the allegations.  They deny that the will or their actions have been fraudulent and point out that three separate courts have rejected a challenge to the will.  The executors say the courts laid to rest any doubts as to the will’s validity.  They lament that the accusations have been brought in the midst of their remarkable progress in securing the financial future of Michael’s children.  Branca and McClain say they have diligently carried out their fiduciary duties.  They decry the Jackson siblings “false and defamatory accusations grounded in stale Internet conspiracy theories”.<br /><br />So, yes, it looks like the fighting over Michael’s Estate may soon return to court.  If so, it will likely be a short-lived battle.  The reason that Joe Jackson lost his legal challenges is because he is not a beneficiary and lacks legal “standing.”  Because he would not benefit from the estate, he could not challenge the executors.  Michael’s siblings will have the same problem if they try to bring suit.<br /><br />However, this raises an interesting point regarding the executor’s statement.  Because Joe did not have standing to bring his challenge to court, and because Katherine withdrew her claim before it was ruled on, no judge has ever decided the issue of whether Michael’s will was valid or not.  In other words, Branca and McClain’s statement in response to the Jackson siblings’ letter was somewhat misleading.<br />At this point, unless Katherine reverses course and brings a formal will challenge (which is likely too late at this point), no court of law will resolve the question of whether the will was validly signed anytime soon.  The Jackson siblings say that their mother, who is 82 and recently had a mini-stroke, is afraid to challenge the will in court.  If that is the case, that type of claim could only proceed if brought by Michael’s children.  Once they each turn 18, any of his children will have the legal right to challenge the will and the actions taken by the executors.  Michael’s son Prince is 15 years old.
    <br /><br /><br />Full article here: Michael Jackson's Siblings Promise New Fight Over His Estate - Forbes
  • reveron1958reveron1958 Posts: 514
    Regarding the mini stroke, I believe it is perfectly possible for Katherine to have had one, but not told the grandchildren incase they would worry. So therefore Randy could be telling the truth. <br /><br />Maybe they did not think the kids would find out.  :icon_e_confused:<br /><br />http://en.wikipedia.org/wiki/Transient_ischemic_attack<br /><br />BTW I was using my 'normal' head when I thought of that, not my 'hoaxy' one.  :icon_lol:
  • MaryKMaryK Posts: 1,732
    on 1342649181:
    <br />Regarding the mini stroke, I believe it is perfectly possible for Katherine to have had one, but not told the grandchildren incase they would worry. So therefore Randy could be telling the truth. <br /><br />Maybe they did not think the kids would find out.  :icon_e_confused:<br /><br />http://en.wikipedia.org/wiki/Transient_ischemic_attack<br />
    <br /><br />Well in this case I think they would have enlightened them before the letter was issued and acknowledged by Randy.<br />They KNOW that the kids are on the web.
  • reveron1958reveron1958 Posts: 514
    True, but they may not have expected the letter to be published on the net. <br /><br />
  • MaryKMaryK Posts: 1,732
    on 1342649732:
    <br />True, but they may not have expected the letter to be published on the net.<br />
    <br /><br />So how did that letter surface?
  • IWantYouBackIWantYouBack Posts: 208
    Not surprised about this at all. Time to open the doors for the big BAM! (If there is a BAM)
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