Michael Jackson Will Surfaces, Snubs Joe

Michael Jackson Will Surfaces, Snubs Joe

www.eonline.com

According to the Wall Street Journal, the document—which will no doubt be the centerpiece of a lengthy and ferocious legal battle in months to come—divides the superstar's estate among his mother, his three children (Prince Michael, Paris-Michael and Prince Michael II) and at least one charity.

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They are going to start fighting. Poor kids. Its always about the money. Joe just wants to push his new record label. Greed is always a bad thing. This is going to get bad i bet. Everybody will be suing everybody before its all over with. I really feel bad for the kids. Old Joe gotta be messing himself now.

www.eonline.com
(visit the link for the full news article)

I'm not suprised at all really that he left his father out of the will. What did the man expect after all the years of abuse he inflicted? I don't feel sorry for him at all. I do however feel sorry for the kids.

what are they fighting over? he's broke. Everyone wants a piece of the rumored $500 million debt?

I'm glad it snubbed his father. That dude clearly does not care about Michael other than his music legacy, success, and MONEY.

If anyone saw it on CNN he totally used the BET tribute to plug a Michael Jackson Blu-Ray

reply to post by Crakeur


Thats the first thing i thought too. Its going to be bad for the kids. Their "dad" was a giant star and they get left with nothing.

I agree, with admin They are not going to want anything to do with the debt, so why even bother reading the will...

To Janet I leave you my socks...

The music catalogs owned by his estate will generate billions in revenue. MJ owned his own music rights as well as those of the beatles.

reply to post by Crakeur


I read claims by some unnamed source that he has 200 unpublished songs that he left to his kids, perhaps that is what the fight is about. Millions can be made from album after his death, Tupac is still making music, I'm sure Michael will be still making music years from now too.

Originally posted by The Shade
I agree, with admin

They are not going to want anything to do with the debt, so why even bother reading the will...

To Janet I leave you my socks...

LOL!!

Actually tho, wouldn't the kids be entitled to any music royalties or anything like that or was he so far in debt that anything sold now goes to the bank?

Some of his fortune is protected, it has been confirmed. The children will inherit majority of the capital, but if his father contest the will we can expect a massive backlash. Not just in the courts, but by the public and fans.

I read it was closer to 100 songs. I also read that he was looking great and his rehearsals were godlike. I also read he weighed around 110 pounds, looked like death warmed over and was riddled with needlemarks.

I read that the kids with teh ex weren't his, or they were.
I read that he slept in a hyberaric chamber or he didn't.
He might have been a pedophile, or not.

Nothing with this guy is straightforward. That said, the music rights he owns (his, beatles etc) are worth a fortune but, here's the sad part, if you inherit the rights to all that music and you owe $500 million dollars, you have two options. Sell the rights to pay off the debt or whore out the songs, trying to make the money to pay off the debts immediately.

Also, if the rights are worth, say, $500 million, there might be some estate taxes to pay and you cannot transfer ownership from the deceased to the beneficiaries until the taxes and, perhaps other debts, are paid off.

So, the family will wind up with little is my guess because they will be forced to unload the assets to pay the debt and potential buyers will know this and take advantage of it. Paul, time to get your songs back.

For those of us that liked the Beatles and for those of us that liked Michael's music, be prepared to hear the songs you love while a car rolls by, a printer spits out photos, an old man gets an erection, a woman rinses her hair and so on.

Originally posted by Crakeur
what are they fighting over? he's broke. Everyone wants a piece of the rumored $500 million debt?

That is a media lie...

Imagine how much his assets are worth.. 2700 acres of wildlife in LA, the Beatles catalog, 1/3 of SONY entertainment... You do the math yourself

If I had $1billion I could borrow $500million from the bank.

Let alone what his albums will sell now that he's a dead legend.

[edit on 30-6-2009 by MichaelMysteries]

I hope he didn't leave anything to Billie Jean because the kid's not his son according to DNA tests.

Who get's the chimp?

Peace

reply to post by Crakeur

Exactly. It's probably a good thing they found the will since it was originally thought that there wasn't one. If he died intestate his estate would have gone to the state, meaning Cali taxpayers would have
inherited those debts!

I think they are really hoping the Elvis effect will kick in here and his sales will pick up so much that the estate can go back into the black before it is apportioned. No coincidence that radio stations are playing his songs constantly now, I wonder what increase they will see in royalties.

reply to post by Crakeur

I'm surprised he was even scheduling a tour, he has looked terminally ill for at least the past year. It was known for years that he had lupus and and another enzyme disease, systemic lupus usually kills in his age range.
Wonder if they have grilled Lou Ferrigno yet, supposedly he was the trainer who was working out with him to get him in shape for the tour.

I've always questioned if he actually was a pedophile but I always felt sorry for him, he's another cash cow no one cared enough about as a human to intervene when he got out of control. He pushed himself into the corner though by playing publicity stunts like the hyperbaric chamber and his supposedly "gay" persona that allegedly was an act. Once the public decides you are a freak there is no going back. His physicians all need to be investigated for allowing him to slide into that state, there were some reports a few years back that he was addicted to enemas to the point that he no longer had bowel control (which also is a sign of serious internal illness), if that was actually the case he should have been Baker Acted. A lot of his problems like obsessive plastic surgery were self mutilating acts.

He didn't own the rights to the beatles catalog he owned 1/2 and Sony owned the other half. He then subsequently took his half and leveraged it for a loan from Sony to help with his comeback.

I feel sorry that the children are left with debt, a legacy of a father who was a weird child molester, and that the only family they have left to care for them are a bunch of money grabbing has beens who are only going to raid what ever treasure Michael had to line their pockets.

Originally posted by MichaelMysteries
Imagine how much his assets are worth.. 2700 acres of wildlife in LA, the Beatles catalog, 1/3 of SONY entertainment... You do the math yourself

If I had $1billion I could borrow $500million from the bank.

Let alone what his albums will sell now that he's a dead legend.

and yet everything was being auctioned:
www.juliensauctions.com...

reply to post by therlloy


The spirit never dies

(second line)