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Showing posts with label John Branca. Show all posts
Showing posts with label John Branca. Show all posts

Sunday, July 19, 2009

Katherine Jackson's Lawyers Filed Papers to Ask if She Can Object to Executors of Michael Jackson's Estate

Either Katherine Jackson, mother of the late King of Pop, is being manipulated or she just doesn't understand what's at stake. According to TMZ, attorneys Londell McMillan and Burt Levitch, who represent Mrs. Jackson personally, have filed legal papers on Friday asking a judge to rule if she can object to the appointment of the executors, John Branca and John McClain, named in Michael Jackson's will and still collect the money he left her. Huh? You will recall that her son left her 40% of his estate, so why start a fire where there's no need for one?

At issue is the "no contest" clause in the will, which means that anyone who files objections to the will automatically gets no money. McMillan and Levitch want to know if the "no contest" clause would apply if Katherine only objects to the executors Michael chose. I guess, since she's getting such a big chunk of his estate, that should be enough to keep her happy, so why the dust-up about the executors? This is a prime example of Mrs. Jackson not understanding the implications of mounting such a legal challenge. Stay tuned. There is more to come in this soap opera.

Monday, July 6, 2009

Katherine Jackson Loses Temporary Control over Michael Jackson's Estate, Judge Rules Will Valid, Leaves John Branca, John McClain in Control

Pool Photographer/Getty Images

The keys to the estate of Michael Jackson has just been taken away from his mother, Katherine Jackson. Over her objections, a Probate Court Judge Mitchell Beckloff today ruled that Michael Jackson's 2002 will is indeed valid and that, per the late entertainer's wishes, attorney John Branca and veteran music executive John McClain are the executors of his estate. Ouch. Joe Jackson just came up empty, for all the obvious reasons.


Lawyers for Jackson's mother wanted Judge Mitchell Beckloff to delay the decision. One of her lawyers, John Schreiber, argued that "there is concern over handing over the keys to the kingdom so quickly." Her attorneys also suggested that because McClain suffers from a disability, he is unfit to make decisions on Michael's estate, which is estimated to be worth more than $500 million. But Beckloff wasn't having any of those shenanigans. He refused, telling Schreiber, "Someone needs to be at the helm of the ship."

Katherine Jackson had been appointed temporary executor last week, when the family still believed the star had died without a will. That didn't last long because Branca surfaced with a five-page document written several years ago, that established him and McClain as executors.

Court spokesman Alan Paranchini confirmed that another will, dated from 1997, was filed with the court, also listing Branca as executor. But Katherine Jackson's co-counsels, Londell McMillan and Burt Levitch, said they didn't expect the judge's ruling to be affected, because the 2002 document would trump any older document.

Beckloff said he believed Branca and McClain would act in the best interest of the estate and be best equipped to sort through various complicated legal and financial problems, ranging from lingering IOUs and lawsuits to the fate of Jackson's biggest asset, his 50 percent stake in the Beatles' song catalog. There is no reason why Joe Jackson should be able to get his hands on the estate of Michael Jackson in a roundabout way.

Tuesday, June 30, 2009

Joe Jackson Reportedly Left Out of Michael Jackson Will in Longtime Lawyer John Branca's Possession

nationalphotogroup.com; Justin Sullivan/Getty Images

The question of whether Michael Jackson had a valid will at the time of his death may have been answered and probably complicated the situation a little more. Yesterday, his parents Joe and Katherine Jackson sought control of his estate, claiming in court documents that he died without a will. Um, not so fast. One drafted in 2002 has surfaced. According to the Wall Street Journal, the document, which will no doubt lead to a lengthy and ferocious legal battle in the months to come, divides the superstar's estate among his mother, his three children (Prince Michael, Paris and Prince Michael II) and at least one charity. This is a major slap to Joe Jackson, who wasn't named as an heir in this will.

It's unclear what custody arrangements, if any, Jackson made for his three children. But a court ruling yesterday gave temporary guardianship to Katherine. The will, drafted by Jackson's longtime attorney John Branca, may be filed in probate court as early as Thursday. So far, the family has not made any comments about this latest turn of events.

Branca reportedly represented the singer from 1980 to 2006, and was rehired by Jackson just one week before his sudden death. Branca and music exec John McClain, a longtime friend of Jackson, are named as executors.

According to the Wall Street Journal, while the pop icon died with roughly $500 million in debt, his assets are believed to dwarf that staggering figure by $200 million. Don't cry for Jackson because among his more prized assets are a 50 percent stake in Sony/ATV Music Publishing, and Mijac, a publishing catalog that includes both Jackson's and the Beatles' canons.

 
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