Trusts and Estates Law in California…. Probate….. Inheritance…..
Rumor is that there is a will that puts everything in trust for his kids and his mom. So it will avoid probate. But his mother is saying that he died intestate and she wants to be executor….oh, wait. Just uploaded the will from 7online.com. I am ignorant of estate law. But still, this concerns me a bit….everything is in trust, yes. That’s good. But his kids are at the mercy of his executors into perpetuity. Is that a good thing? What if those three cowboys get greedy (the lawyer and the accountant and the music exec). Is Michael crazy? He put the fox, the mongoose and the rat in charge. Not these men specifically. But folks, there are some unsavory, dishonest accountants, attorneys and music execs….I don’t get it. This seems like a booboo. Why didn’t he provide for his kids specifically? Why didn’t he name alternate executors? Did he realize his estate would be worth in excess of one billion dollars?!
There will be a massive push back from the Jackson camp. I would push back hard if I were them. TESTAMENTARY INCAPACITY and UNDUE INFLUENCE, folks. That would be my argument and I”m sticking to it.
This is crazy. Michael messed up with this, I think. Not that I think he shouldn’t have provided for his estate by trust. That was good. But what are the terms of the trust? What specifically did his kids get? And these executors? Their fees and everything. I don’t know. To me, their powers are plenary and permanent. And I don’t like it. What state of mind was Michael in when he did this? Was he sleep deprived? I know. Not nice. But seriously. This is the serious stuff here. Somebody in the Jackson camp has to do something about this. And I am not advocating infighting among the Jacksons for Michael’s money when he clearly didn’t want to leave any to them. (WONDER WHY???). But we can’t have all of it in the hands of the attorney, the music exec and the fricking accountant. No way jose.
If you want to read more Michael Jackson posts, go here: http://www.divorcesaloon.com/index.php?s=michael+jackson
See the will here: http://abclocal.go.com/wabc/feature?section=news&id=6893847
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Just feel so bad, kwnoing Michael Jackson death is a homicide. I feel sorry for the family and fans, cause we loved him so much, and I’m sure his music will be on our mind forever!! It’s so sad, all my feelings for the family.
I think the money should go to charity. The children should lern the value of hard work.
These kids will inherit the earth, pretty much. Their father’s estate has just quadrupled in one week. He’s a billionaire. I’m not sure that people understand the scope of how much money this man is worth now that he’s dead. He died at exactly the perfect age, and under the right circumstances. This was an “expensive” death. Those kids stand to inherit more than they can even dream.
I think the way he handled the will is good. I am sure he provided for his other family members in the trust. There will be no need to mount a challenge.