Jul 1, 2009

DETAILS OF MICHAEL'S WILL




So MJ's will was filed in court today and the details have been leaked:


  • His mother Katherine will be the legal guardian of his 3 children; should his mother pass, then Diana Ross will become their legal guardian
  • He is worth more than $500,000,000. All of the estate consists of non-cash, non-liquid assets, including primarily an interest in a catalog of music royalty rights (includes The Beatles, Bob Dylan, Niel Diamond, Lady Gaga, The Jonas Brothers ) which is currently being administered by Sony/ATV, and interests in various entities.
  • The Michael Jackson Family Trust (his 3 children and Katherine) will receive all of his estate
  • Some will be distributed to charities
  • Six relatives, which include Tito's three sons, are listed as contingent remainder beneficiaries. Meaning, they'd only share the estate if Michael's children or Katherine passed away before Michael did.

UPDATE:


The Jackson family put out a statement saying the public viewing of Michael will not be held at Neverland Ranch and that memorial services and public viewing details will be given shortly.


It's rumored that the public viewing would be held at the Los Angeles Staples Center but that's not yet confirmed.


According to E! News, Michael's body is currently being held at the Forest Lawn Memorial Park and Mortuaries in the Hollywood Hills, where he's expected to be buried.



I feel bad for all those people who bought hotel rooms all near and around Neverland Ranch! I read that some hotels sold out completely in 20 minutes!




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