Est. 1998
Judge Decides On Will & Estate
In an important hearing today in Court in Los Angeles, Judge Mitchell Beckloff made decisions in some of the more crucial aspects of Michael’s will which was dated 2002.
Katherine Jackson was given permanent custody of Michael’s three children Prince, Paris and Blanket. She was also given an allowance for them from Michael’s estate and one for herself. These allowances were limited to 83.5% of what she had asked for as the judge considered that some items had been duplicated. The agreement also gives Debbie Rowe visiting rights.
The judge also admitted Michael’s will into probate and named John Branca and John McClain as co-executors, a decision that Mrs Jackson did not agree with. After a brief recess in court, she withdrew her petition to be put in charge of the estate.
Also in court was Dr Arnold Klein, Michael’s dermatologist who raised objections to the custody of the children. He stated that he wanted to oversee the children’s medical and college needs. Judge Beckloff told him he had no legal basis to object to an agreement made last week between Mrs Jackson and Debbie Rowe .
Later in the hearing, Mr Branca and Mr McClain were ordered by the judge to give a copy of Michael’s concert contract with AEG to Mrs Jackson, on the understanding that she would keep the contents of the contract confidential.
Mr Branca and Mr McClain also revealed that Michael’s life insurance had been paid to the executors and that they had also received millions of dollars from Dr Tohme Tohme which he had been holding at Michael’s request.
The business dealings which have been started by the two executors should bring in many millions of dollars which will benefit the Michael Jackson Family Trust. The court records regarding money were redacted, meaning that the amounts allowed were not to be made public knowledge
At the next court hearing the Judge will consider Mrs Jackson’s filing whether she can disqualify the present executors on grounds of ‘their capacity or potential conflicts of interest’. The Judge said he needed more information about the motion, including a copy of the private trust that contains a “no contest” clause stating that anyone who challenges Michael’s will should be disinherited.
The judge added that he thought the law allowed Katherine Jackson to challenge Mr Branca and Mr McClain based on narrow arguments and scheduled an August 28th hearing on the issue.
Source: Associated Press & MJWN
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