Katherine Jackson Wins

Thursday, September 24th, 2009

Associated Press reported that Katherine Jackson, the mother of Michael Jackson, can now challenge her son’s estate administrators without risking her inheritance share.  This is the ruling of Mitchell Beckloff, a Superior Court Judge, last Friday.  In the ruling, it states that Mrs. Jackson can remove the estate executors - John McClain (music executive) and John Branca (lawyer) - or challenge their authority without being disinherited.

Although there’s a family trust provision that calls for anyone challenging the will to lose their share in the trust, the judge ruled the complete opposite.  Previously, the lawyer of Mrs. Jackson raised concerns about a few deals that Mr. McClain and Mr. Branca have negotiated, including the involvement of Michael’s concert promoter, AEG Live.

According to Londell McMillan, Katherine’s lawyer, “We hope that this outstanding administration matter is resolved, without need for further costly obligation - this is for the best interests of Mrs. Jackson and Michael’s children, who are the true beneficiaries.”

The family trust gives 40% to Mrs. Jackson, 40% to Michael’s three children, and the remaining 20% will be given to charities.  Judge Beckloff also approved around $1 million annual allowance for the family - Mrs. Katherine Jackson, Michael’s daughter Paris, and his sons Prince Michael and Blanket.

Tags: administrators, AEG Live, Associated Press, Blanket, estate, Family Trust, inheritance, John Branca, John McClain, judge, Katherine Jackson, lawyer, Londell McMillan, Michael Jackson, Mitchell Beckloff, Paris, Prince Michael, trust
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