It’s Michael Jackson week on our blog. Maybe not officially, but MJ’s estate has been making headlines all week.
Now, the Jackson siblings are going after the executors of his estate, accusing them of fraud, mismanagement and of abusing their mother, reports CNN.
Janet and four other Jacksons sent a letter to the executors, outlining their complaints.
In fact, even Paris Jackson, Michael’s fourteen year old daughter, is voicing (or rather, tweeting) her thoughts on the fiasco.
The executors are John Branca and John McClain. The two have been responsible for taking the estate out of debt, as we mentioned on our blog earlier this week.
So, what’s the problem then?
Well, for starters, the executors are reportedly benefitting from the enormous success of the estate. According to Forbes, the executors cut a deal with the probate court, allowing them to earn ten percent from most deals they enter into on behalf of the estate.
Obviously, the Jackson siblings aren’t thrilled about this. In fact, they’ve even started contesting his will (come on, who didn’t see a Michael Jackson will contest coming?).
The siblings allege that Michael wasn’t even in L.A. the day the will was signed. In fact, the siblings allege that Michael had repeatedly told them how much he despised Branca and McClain.
While the case may be headed back to court, the issue, as Forbes puts it, is that the siblings lack standing to sue. As it appears, they were not beneficiaries of the estate and might not have the legal ability to bring a lawsuit.
Then again, if they allege that the current will isn’t correct and that they might stand to benefit from another version of the will, then they might have standing to sue. It’s still too early to say.
In any event, Jackson’s estate is worth so much that it’s no surprise to anyone that the will would find its way to court. Now, we can just sit back and watch and the events unfold and the controversy over Michael Jackson’s estate continues.
- Search Directory of New York Estate Planning Lawyers (FindLaw)
- Legal Documents— Michael Jackson’s Cases (FindLaw News)
- Michael Jackson’s Estate is Nearly Out of Debt (New York Estate Planning News)