Michael Jackson’s will, drawn up in 2002, leaves the bulk of his estate to his mother, Katherine, his children, and to charity. Jackson’s dad Joe is not mentioned at all. While Jackson had around a 1/2 a billion in debt from some estimates, his holdings are worth quite a bit more and he surely has a fortune in memorabilia remaining along with his share of the Beatles song catalog and the rights to his own songs. A Reuters report estimates that his estate is worth $1 billion, while the Wall St. Journal says it’s worth “possibly $200 million more than he owed,” or around $700 million. That’s no small fortune with $200-$500 million at stake.
The Wall Street Journal reported Tuesday that Michael Jackson’s most recent legal will, a document signed in 2002 which names a lawyer and a former music executive as executors of the pop star’s estate, may be filed as early as Thursday.
The will reportedly divides Jackson’s immense estate among his mother, three children and one or more charities, but does not name his father, Joe Jackson, according to people close to the late singer.
The singer died suddenly last Thursday at the age of 50. His parents, who filed Monday for custody of his children, have suggested a will might not exist.
According to the Journal’s report, the 2002 document names lawyer John Branca and veteran music executive John McClain as executors. Branca, who authored the will, was Jackson’s main attorney from 1980 to 2006, and was rehired by Jackson the week before he died. Neither Branca nor McClain could be reached by the newspaper for comment.
People familiar with Jackson’s finances told the Journal that the singer died with something in the region of $500 million in debt, but that his estate is likely worth an even greater sum – possibly $200 million more than he owed.
No confirmed legal will has surfaced yet for the global star, but the celebrity news Web site TMZ.com reported Monday that Jackson’s lawyer has a copy of a will and he intends to file it with the court.
[From CBS News]
That’s strange that Jackson re-hired the lawyer who drew up his will just a week before he died. He probably needed his help with tour details, and it makes for an odd coincidence. Jackson’s parents filed court papers yesterday to probate his estate, or essentially settle it. At that time they listed him as “intestate” or without a will, but now that a will has allegedly been found it may make matters easier. The papers asked for Katherine to be the administrator of the will, but if an attorney has been named executor things could go a little easier – or not. Remember how it took a full two months James Brown’s body to be buried as his family and executors battled over his estate?
MSNBC’s The Scoop reports that no matter what happens with Jackson’s estate his kids will be taken care of. He had a whole catalog of new, unrecorded songs, perhaps up to 200, and he left all rights to his children. They could be worth up to $100 million.
Newspapers worldwide are running front page photos today featuring Jackson’s final rehearsal just two days before he passed. It’s claimed that he was outwardly healthy and enthusiastic about his upcoming 50 date tour, although his former nanny, Grace Rwaramba, supposedly claimed he thought he was signing a contract for just 10 performances, not 50. Jackson’s trainer, TV’s Incredible Hulk Lou Ferrigno, said he was “in great shape” before his death.
I saw the a splice of an interview where Jackson himself said ‘I went to bed agreeing to do ten shows when I woke up it was 50’ he seemed distraught over the thought of 50. Like a said i just saw a clip but it was before he died and on t.v. so… the nanny is right
I remember thinking is was odd someone ‘tricked’ him into more shows ala Brit Brit’s handlers
While it’s good that his father isn’t mentioned in the will, since the parents are together, isn’t that essentially the same thing? He’ll get his hands on the money anyway. What a piece of work Joe is. The recent interviews with him are very revealing. He obviously cared nothing for Michael.
The parents are still legally married, but they’re not “together” – if that makes any sense.
Lem, MJ was so out of it with his addictions that he probably signed all kinds of things without knowing what they were. That’s what he said about one document he’d signed, he argued he didn’t even remember signing it. I don’t think he would have signed on for 50 shows at all, ten would have been more than enough.
That said, Joe Jackson is a horrible man. True the Jacksons wouldn’t be where they are without his initial guidance (the good and the bad), but boy did he hurt them permanently. It makes you admire Michael that much more, that he could be such a charitable loving man having come from that monster. He clearly takes after his mother, who he always cited as an influence. If it is true that Michael cut him out of his will, it would be completely unsurprising and frankly, a nice little slice of revenge. Especially with Joe running all over the place promoting his new record company after his son just died. What a cold turkey.
The best one can hope is that Joe dies long before Katherine. He is her husband, so he could still get his
greedy hands on her money.
Do not trust him at all.
He was a drug addict folks and he over-dosed – plain and simple – why after so many days is this still news. A drug addict died of an overdose – next story already.
very glad he left the father out of his will. what a callous son of a gun that Joe is.
if my father beat me every time i missed a step or skipped a beat or even sang out of key, i wouldnt leave him a pot to piss in. i dont think joe realizes the extent of damage he did to his children, especially to michael.
Thought I read somewhere that the original publishing agreement for the Beatle song catalog only covered 50 years, so the bulk will transfer back to Paul McCartney and Yoko Lennon in 2013. It may be crap though. It was in connection to an article about how angry Paul was with Michael and the article said MJ promised in his death that Paul could have the catalog. Can’t provide a link – just something I remember reading.
BTW – while you all of you are blasting Joe – someone should point out that his mother is no better. About 2 hours after she learned he son died – she’s in Target shopping! She’s stood by and has done very little to help her son and I wonder how many mothers out there would be up for a shopping trip to Target hours after one of their children died suddenly. The entire family is sick and these kids deserve better.
Hey Linda,
FYI – It has not been reported that he died of a drug overdose. He was taking “prescribed medication” so if anybody is to blame it will be the doctors for prescribing it. Think back to Elvis…he DID die of a drug overdose. Why are people so quick to put down Michael Jackson when he just died but praise Elvis? They are no different. Let Michael rest in peace.
Okay Linda,
If you have nothing to say about Michael and the Jackson family, maybe you shouldn’t even bother with posting comments. Enough is enough.
So what if Katherine was in Target; they do sell cleaning supplies and everything else under the sun. The reality is that life does go on and you can’t put her on trial for going to the store.
Linda I’ll concede a point or 2 in favor of Katherine, not really being mother of the year. I don’t know anything about Target buy maybe she needed milk. She’s still housing a pack of children. When one parent is as bad as Joe the other gets a hall pass by default usually.
as far as it still being news… well he was a super-star. We still speak of Joplin and Hendrix and Phoenix and Belushi and Elvis and Cobain. We will speak of Winehouse and Richards and Lohan and Crack-is wack Houston when they die. It doesn’t need to be about the drugs.
We talk of Kennedy & Monroe. We talk of Bonnie & Clyde. We talk of Bruce Lee & David Carradine. Heck we’re still looking for Capone and Lindburg’s baby.
Nature of the beast baby.
Zoe. what I don’t get is what do ‘those people’ get out of keeping the ‘star’ drugged and confused. I see what that Lufti got but say Anna Nicole. She could have made more $$ were she functional. These rumors of the deadly demerol shot. Why kill the money man. Unless you have seen a will leaving you a chunk you might not otherwise get if he were to ‘live it out’. It makes no sense to me to kill the mic that feeds you.
seems to me he wasn’t in the health for 50 shows. Seems to me he knew it. Why not then expand into some ultra-mega-monster venue and play the 10 or 15. He’s the talent. If he can’t do 50 then he can’t do 50.
I thought that in the interview with CNN at the BET awards the man conducting the interview asked Joe Jackson about recently celebrating his 60th anniversary in Las Vegas, and Joe Jackson confirmed they had…
I can understand if they are still legally married, but not “together”, but if that is the case I cannot understand why they celebrated their annivesary??
@ Linda:
This is the BIG one, the biggest one of all. It will be a long time before there’s a next story. I am excited about the prospect; I’ve been waiting for YEARS to get the scoop on MJ. My only hope is that the truth isn’t muddled by a whole bunch of false reports that are pushed out and then never recanted.
But you are right, Katherine isn’t a whole lot better than Joe. She let him beat those kids, she let him push them and finally, she let him cheat on her endlessly. If reports are to believed, he would get in on his kids’ sloppy seconds back when the Jackson 5 was touring. He had at least one child with a mistress — and Katherine promptly found the woman and beat the $h!t out of her. Really? Beat the $h!t out of Joe, not the chick he cheated with. All of that is long past, and while I think Katherine showed her kids a lot of love, she let a lot happen.
“i dont think joe realizes the extent of damage he did to his children, especially to michael.”
@mel-I think he DOES realize it; he just doesn’t care.
It would be nice if Paul McCartney finally got his songs back.
I read that Michael Jackson’s cardiologist was living at his house. It doesn’t make sense that he would have a cardiologist living with him if he didn’t have a major heart problem. Nobody whose heart was perfectly fine would have a cardiologist, he would have a different kind of doctor.
PJ, Michael didn’t steal the songs from Paul, so there’s nothing to “get back.” Paul was too cheap to pay 47.5 million that was being asked for the Beatles songs, so Michael scooped them up. Fair and square.
I think it’s hilarious that what Paul didn’t want to pay for his own band’s legacy he later CRAPPED out on that one-legged tart he married to feel young one last time. LOSER.
(I originally posted this as part of a comment on the Heath thread.. but I’ll post the relevant part again here…)
—
Am I the ONLY person who is wondering if Michael Jackson may have committed suicide? His doctor seems like a complete skeeze.. (he “couldn’t find a PHONE” to call 911!?! are you kidding me?)… but what IF he is telling the truth that he didn’t inject him.. what IF Michael took an overdose or injected himself? Yes, I realize it is pure and total reckless speculation.. but that is just what has crossed my mind, and it ain’t like I am a talking head on the news saying it.
Would love to hear if anyone else has even pondered that. I think Michael was perhaps just OVER it all.. that it just wasn’t worth it any more, and was feeling the burden of all the heartache in his life being insurmountable with no end in sight – in addition to the unimaginable pressure of the tour coming up in TWO weeks.. at age 50.. lawsuits in every aspect of his life… $500 million in debt…physical pain… a sycophantic evil father of epic proportions.. a past filled with abuse and being used and lied to… never had a childhood… it goes on and ON! a little more than even a superhuman could withstand in my opinion (of which he was one, at least in talent).
and the last nagging question for me.. why did he JUST re-hire his ex-lawyer of many years ago, a week before his death – who is the one who just happens to have his will, and just happens to be the executor of it???
questions….
and Lem… I couldn’t agree more. Why kill the money man? Perhaps the doctor gave an accidental overdose injection.. then freaked the f out… thereby stalling and not calling 911, because he was trying to save not only Michael, but his own ass too. But he has denied that completely. And the police have given no indication whatsoever of them considering him a “suspect”, and I think we would be getting that vibe by now if that was the case. And the evidence WOULD bear that out. Forensic evidence would reveal if the doctor did give a lethal injection.
no matter the outcome – in the end, Michael’s heart just gave up. I find all the irony in the world in that, and at the same time – none at all.
THE TRUTH IN THE MATTER IS WE ALL HAVE A COMMENT TO SAY,BUT NO IS SEEING THE BIG PICTURE HERE THE NAME IS DEATH.WE HAVE SO MUCH TO SAY. WHAT IF IT WAS YOUR FAMILY IN PAIN SUFFERING,AND GUILT HIS FARTHER WILL BE JUDGE ON ALL HIS WRONG DOING AND THOSE WHO MAY HAVE HAD HIM KILLED.SO WHO ARE WE TO JUDGE MJ LET HIM AND HIS FAMILY REST IN PEACE.WE AS PEOPLE JUST DONT KNOW WHEN TO QUITE.IF WE THINK ABOUT IT NOT ONLY DID HIS PARENT DID HIM WRONG SO DID THE PEOPLE. THINK ABOUT THE KIDS LOOK HOW PEOPLE ARE STILL KEEPING UP DRAMA HE RAISED THOSE KIDS SO THEY ARE HIS KIDS IT DOESNT MATTER WHAT A PIECE OF PAPER MAY SAY. IF THE KIDS DIDNT KNOW NOW THEY DO.MICHEAL J. MADE THE SONG MAN IN THE MIRROW WE NEED TO REALLY LISTEN TO THAT SONG.
Geez,maria no need to shout.
The Man in the “Mirrow”? 😆 wait! that changes everything!
Linda you are a real a**hole you dont know anything about the man if you would do your home work you would find out that MJ had lupus and vitilgo, you need to look up lupus maybe you could understand what MJ went threw say what you know not what you hear. rip MJ