MJ Estate Second Accounting - Document & Summary & Discussion

I don't trust barack. He's in this neverland deal to make a packet. If the estate wants him out, they'll have to pay him alot.

Thanks alot ivy, windy and memefan. It does seem that even in death mj has the most scrutinised finances in hollywood. Pity the media aren't accurate in reporting them.

So on latoya's i know who killed mj booktour last summer where she was saying to everyone who wd listen that her mum hadn't 'received a penny' from mj's estate, they had in fact received around $6m that year. And chris hunt of global live feeling the need to hand over to a grateful mrs j at a press conf a cheque for $150k for mj's children as if they were having to run around in bare feet. So disrespectful to mj and how he worked to set up his estate to provide for his children, never mind to the executors.
 
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Bonnie I forgot about that. She wanted to talk about her finances or lack of it to Oprah too, forgetting that there were documents that would show how much money she received.

I am excited about the interactive museum too. In fact any museum will be welcome.
 
From Leslie

Prince Paris Blanket LLC
A little tidbit: The funds from The Michael Jackson Estate to the children are distributed to a Delaware company, called "PPB LLC" (as "Prince Paris Blanket LLC"). It has been registered on November 4, 2010. Already over 10 million dollars has been moved to the company's account.

Another two entities are registered for the same, or almost the same purpose: PPB II LLC in Delaware (August 15, 2011), and PPB (NV), LLC in Nevada (June 27, 2012).

If I should speculate, I would say that the Estate will not only distribute funds through these companies, but will move MJ's (maybe debt free) entities under these new companies/trusts. The multiple names, especially if registered in different states may refer to that.

http://lesliemjhu.blogspot.com/2012/08/prince-paris-blanket-llc.html
 
Re: Prince Paris Blanket LLC

Yes of course its good for the children :) its setting up companies in Prince Paris and Blankets name
most likley to transfer assets to. It protects them and the assets transfered into their names.
 
Re: Prince Paris Blanket LLC

But why? Even without transfering the assets into new companies these assets will one day become the Kids possession, right? Protection against what? Isn't the Estate quite safe the way it is?
 
I dont think it means the estate assests are not safe. It could for thier future personal needs, monies set a side for them to draw off from. as monies each have specific uses when runnign the estate. They could be planning on placing assest that are in the trust and MJJ companies directly into thier names .. Thay know what they are doing and why.
Im no expert. maybe some can do some research.
 
Whether or not they would transfer the assets to the new trust is a speculation on Leslie's part. However Executors is supposed to put the income they bring in aside for MJ's kids. So they are doing that. This also again shows us that the debts are paid / being paid and Estate is now in a position to do distributions to the beneficiaries.
 
Lots of corporations set up business in Delaware and Nevada because of the big tax breaks they are given.
 
^^ Michael Jackson interactive museum in Neverland:w00t::tongue_roll::stars::jumpy:
one can only :pray:


So ok i have to admit i have been reading frank cascio's book bout mj ( i just needed to see what he had to say) and im sure i saw he wrote that michael told him that is what he wanted to happen with neverland. I think he said he was gonna make it into like a museum and have is voice narrating the visitors way around neverland
 
Santa Ynez Valley in Spring
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COMMUNITY GROUP “NEVER!” FORMS TO OPPOSE CONVERSION OF FORMER NEVERLAND RANCH TO “GRACELAND-LIKE” ATTRACTION

SANTA YNEZ, CA, JULY 23, 2009— With enthusiastic community support, a Santa Ynez Valley community group has been formed with the sole mission of opposing any attempt to convert Michael Jackson’s former Neverland Ranch into a commercial venue or Graceland-like tourist attraction.

WHO: Never! was founded by Santa Ynez Valley residents in response to broad community encouragement, and its mission has already received the support of the following community groups: Buellton Is Our Town, Preservation of Los Olivos (P.O.L.O.), Santa Rosa Road Ag Alliance, Santa Ynez Valley Alliance, and Santa Ynez Valley Concerned Citizens. Residents, farmers, ranchers, and business owners are represented.

WHAT: The mission of Never! is to oppose all attempts, including the creation of a burial site, to convert the beautiful and secluded former Neverland ranch into a commercial venue or Graceland-like tourist attraction.

WHY: The development of a Graceland-like tourist attraction is totally out of character with the remote and rural Santa Ynez Valley. In addition to inadequate roads, none of the essential urban services (fire protection, police services, medical facilities, or gas stations — not even a sewer system) are available within ten miles of the location. Further, the county-wide precedent that would be set by approval of this project would open other large ranches for urban development and put at risk the beauty and rural character for which Santa Barbara County is known and loved.

“Michael Jackson came to the Santa Ynez Valley for the peace and quiet,” said Bob Field, spokesman for Never!, “and when he lost that, he left, never to return. The vast majority of Valley residents live here for the same reason. Ironically, development of a Graceland-like tourist attraction would destroy precisely what Michael loved about the Valley.”

Santa Ynez Valley in Summer
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Never! believes that the development of such a facility in a large urban area, such as Las Vegas or Los Angeles, would be a far superior option for the Jackson family and for the millions of Michael Jackson fans. “It could be developed much faster, cost far less, and be available to many times the number of visitors”, said Mr. Field. “Only the multi-billion dollar real estate investment firm that bought this ranch on speculation would significantly benefit from imposing this on the Santa Ynez Valley.”

Never! has asked representatives of this investment firm (Colony Capital, LLC) to put the property back under the protection of the State’s Williamson Act, which offers very significant property tax breaks in return for a ten year commitment to keep the land in agriculture.

While the owners have been non-responsive to date, Mr. Field says he “remains hopeful.”

Struggles over land-use proposals in Santa Barbara County have been known to go on for five to ten years, or longer. “Never! is announcing early in hopes of preempting a conflict,” said Mr. Field, but quoting Winston Churchill he adds: “we will never give in, never, never, never……”

CONTACT: info@nevereverland.org

Santa Ynez Valley in Fall
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Never!

BACKGROUND :

In 1988, seeking a place to find peace and quiet, Michael Jackson bought the beautiful and secluded Sycamore Valley Ranch in the Santa Ynez Valley, and renamed it Neverland. Seventeen years later, when he lost that peace and quiet, he abruptly left the Santa Ynez Valley, never to return.

In 2008, a multi-billion dollar real estate investment firm (Colony Capital, LLC) bought the property for $35 million (with Michael Jackson a partner of unknown remaining interest) and simultaneously changed the name back to Sycamore Valley Ranch. Sadly, as we all know, Michael Jackson passed away in June 2009, suddenly and tragically.

Now, it appears that a small number of people may be trying to capitalize on the unfortunate circumstance of Michael’s death, by enabling (or pursuing) a Graceland-like conversion of this remote ranch. Repeatedly asked, the owners have refused to rule out the possibility, and have acted in ways which make it look like it might be the goal: although they had immediately removed the name Neverland from the property in 2008, they recently distributed free hats that say “Neverland 2009”.

In addition, on July 10 and 11, the owners hosted a number of by-invitation-only tours of the ranch for about 150 county politicians and opinion leaders — the press was denied access. While being well fed, invitees were given comforting reassurances that there were no current plans and no desire for a burial, or for a conversion of the ranch to a tourist attraction. (After speaking with attendees, this version of events was reported by media including the Santa Barbara News-Press and KEYT.)

However, for some reason, within six hours of the first report of the meetings and the reassurances appearing on the web, someone apparently representing the owners felt compelled to issue a written statement containing none of the reassurances and making it explicit that they had not “rejected any options”. (see Etling Examiner article)

INTRODUCTION TO NEVER! :

Not surprisingly, the above incidents have alarmed this community.

The overwhelming majority of Santa Ynez Valley residents, whether they have stayed here for multiple generations, or moved here more recently, have chosen to live in the rural Santa Ynez Valley for the same peace and quiet that attracted Michael Jackson.

Never! is a grassroots organization formed in response to the outcry from residents. Never! will give voice and staying power to the great majority of people of the Santa Ynez Valley who are committed to preserving this community’s rural character.

The sole mission of Never! is to stop all attempts, including creation of a burial site, to convert this secluded ranch into any type of tourist attraction — this precedent setting, urban-style development of our agricultural lands will be vigorously opposed.

Never! is proud to announce that its mission has already received support from the following community groups in the Santa Ynez Valley: Buellton Is Our Town, Preservation of Los Olivos (P.O.L.O.), Santa Rosa Road Ag Alliance, Santa Ynez Valley Alliance, and Santa Ynez Valley Concerned Citizens.

THE PROBLEM WITH A BURIAL SITE AT THE RANCH

The problem with creating a burial site at the ranch, and why it will be resisted, is that the site would immediately become a tourist attracting “shrine”. This is certain to become such a nuisance and safety concern that the property value would be destroyed for any other uses. Therefore, an attempt to create a burial site is seen as a deliberate first step towards the development of a Graceland-like tourist attraction.

THE PROBLEMS WITH THE “GRACELAND” IDEA :

1) The specific problems with this development idea relate to its huge impacts, and the total lack of necessary urban infrastructure to support it.

The number of visitors easily could reach 5,000 to 10,000 per day (Graceland and Hearst Castle reach 4-5,000 per day each) — the population of the entire Santa Ynez Valley, all five towns included, is only 22,000. This volume of additional visitors would overwhelm the community. The nearest local town is tiny, with a population of only 1,000 people, and it does not have a gas station or a sewer system.

In addition, the ranch is located in a high fire danger zone 12 miles from a fire station. It is 11 miles from the nearest sewer system, police station, gas station, and a tiny hospital. The nearest public water supply is 5 miles away. All of the roads serving the Valley are two lane rural roads; the narrow and winding five mile road to the ranch is not close to meeting the published County Design Standards.

It will take years and cost a small fortune to develop the necessary infrastructure — if the environmental impacts don’t prohibit their development altogether.

2) The general problem introduced by this idea is the precedent that it would set, which is colossal in its negative implications.

As a prerequisite for this project, the County would have to amend its General Plan to allow, for the first time, urban developments on Ag-zoned properties, county-wide. This longstanding County prohibition is the primary reason that Santa Barbara County has not gone the way of sprawling over-development — like other southern California coastal counties.

Once this door is opened, there is no good way to predict the number of requests that would come in from developers with dreams of large-scale urban projects on County agricultural lands. It is not legally supportable to treat property owners so differently that these requests could be denied.

THE SUPERIOR ALTERNATIVE :

A far superior alternative — for the Jackson family, for the millions of Michael’s fans, and for the Santa Ynez Valley — is to develop a Graceland-like attraction in a major city like Las Vegas or Los Angeles. Permission could be obtained in far less time (and at less risk), it would be far less expensive (because the necessary infrastructure already exists), and it would be many times larger (due to ready access to millions of residents and visitors).

The only significant beneficiary from doing this development in the Santa Ynez Valley is the multi-billion dollar real estate investment firm that bought the ranch on speculation.

A REQUEST OF THE CURRENT LANDOWNER :

Never! has made a request of the ranch owner: Please renew, without delay, the land conservation agreement (commonly known as “Williamson Act” contract) with the State of California.

(The “Williamson Act” contract is the premier agricultural land conservation tool in in the State of California; it offers dramatically reduced property taxes in trade for restricted development for a rolling ten year period of time. Disturbingly, the current contract covering this ranch has been placed under formal notice of non-renewal and, unless it is renewed, will expire in 2012.)

At a recent series of private meetings with about 150 local politicians and opinion leaders, representatives of the investment company stated that they did not want to see the ranch broken up, did not think it possible to adequately secure the ranch for a Michael Jackson burial site, and did not think the development of a Graceland-like scene was appropriate for the Santa Ynez Valley.

There are no fees associated with reactivating a Williamson contract, it significantly reduces property taxes, and it meets all of the owner’s publicly stated goals.

The Santa Ynez Valley community would be immediately relieved and forever grateful if the owner were to renew this Williamson Act contract without delay.

Santa Ynez Valley in Winter
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http://nevereverland.org/additional-information/
 
Good news about the LLC's and it is significant that it is in the children's names. I hope Randy and co notices that too.
 
The amount of money Katherine spends for houses, loans, supporting cubs etc, I happy to see they have set separate LLC for kids, so at least theywill have something before it is all spent on something else that wasn't Michael's intention.
 
dematteo_augustsy.jpg

“Neverland” Position Statement

[24 July 2009] The mission of the Santa Ynez Valley Alliance is to work collaboratively with individuals, groups and government to protect the rural character of the Santa Ynez Valley and support good stewardship of natural and agricultural resources through education, comprehensive planning and public participation. The Alliance supports the Williamson Act and it’s Agricultural Preserve program, works to ensure that growth is supported by comprehensive planning and infrastructure, and discourages urban or suburban sprawl.In 1988, the late Michael Jackson chose to purchase a large cattle ranch and residence in the Santa Ynez Valley because its remote location provided him with a private retreat distant from fans and media. The large acreage of Sycamore Valley Ranch, with almost 2,700 acres abutting Los Padres National Forest secluded from public view, offered privacy the pop star could not find in urban areas. Although Jackson expanded the residential footprint with a zoo, trains and amusement park rides and renamed the property “Neverland,” the great bulk of the ranch was still grazed by cattle. The acreage remains under Agricultural Preserve contract but is scheduled to be released in a few years. In 2005, Jackson left the Valley with no plans to return. Financial problems forced Jackson to mortgage and ultimately relinquish control of the property, although his estate maintains a minority interest. Jackson’s furniture, animals, rides, and trains have been removed from the site. Although the theater, train station, and empty cages distinguish the residential envelope, the property essentially remains what it always has been: large-acreage, agriculturally zoned, grazing land. It has now been suggested that the property be renamed “Neverland” once again and developed as a tourist attraction. Some have gone so far as to suggest that the remains of the late pop star be interred on the site and the property converted into a Graceland-style business. The Valley Alliance seeks to discourage the expansion and diversification of inappropriate non-agricultural uses on agriculturally zoned land such as Sycamore Valley Ranch. The Agricultural Element specifically points out the potential conflict with agricultural uses posed by “expanding residential, ranchette and tourist land uses” in the Santa Ynez Valley. The development of urban visitor-serving uses and facilities in a remote rural area is inconsistent with adopted County policy and not supported by existing infrastructure.
Figueroa Mountain Road, where the property is located, is a small rural road serving a handful of residences, a few ranches, two schools, and Los Padres National Forest. The intersection of Figueroa Mountain Road and Hwy. 154, which would be used to access the potential project, has limited sight distance and has been the scene of numerous traffic fatalities. At both Graceland and Hearst Castle, guests can number up to 4,000 or 5,000 on a single day. For comparison purposes, the population of the entire Valley is only 22,000. The nearest township, Los Olivos, is more than 5 miles from the property and is home to fewer than 1,000 residents. Los Olivos has a shortage of public facilities, including a sewer system. In order to protect groundwater from contamination the area has been deemed a Special Problems District and visitors must use portable toilets. Public services are already stretched to the limit within the Valley. Response times for fire protection services in Ballard and Los Olivos are already inadequate. The ranch is in a High Fire Hazard Area and it is more than 11 miles to the nearest Fire and Police stations. It is more than 10 miles to the nearest sewer system, gas station, and small hospital.Although the property is located outside the Santa Ynez Valley Community Plan boundary, commercialization of the property is clearly inconsistent with the primary goal of the Plan: preservation of the Valley’s rural character. The Environmental Impact Report for the Community Plan demonstrates how seriously existing development potential will impact Valley roadways in the next 20 years. Valley roads are already burdened with commuters, tourists, casino visitors, wine tasters, and service vehicles. Additional traffic-generating development will only exacerbate future problems.The public costs to construct the necessary infrastructure and provide ongoing services for such a project would far exceed any revenue the community might expect to receive.
Infrastructure development would encourage more growth that would result in more impacts to the community. The majority of jobs at a “Neverland” tourist attraction would be poorly compensated service workers who could not expect to find housing within the Valley. Most workers would find it necessary to commute from more affordable housing markets and would therefore add to traffic impactsThe dramatic intensification of non-agricultural uses that would accompany such a project could serve as a precedent to undermine agricultural land use and existing County policy. It would encourage other property owners to exit the Ag Preserve program and pursue speculative non-agricultural development. The Alliance supports the Ag Preserve program and good stewardship of agricultural resources. The Alliance is dedicated to protecting the rural character of the Santa Ynez Valley and works to ensure that growth is supported by comprehensive planning and infrastructure. The Alliance cannot support the intensification and diversification of inappropriate non-agricultural uses on agriculturally zoned land in rural areas. For all these reasons, the Santa Ynez Valley Alliance is opposed to the development of a “Neverland” tourist attraction on the Sycamore Valley Ranch property.
http://www.santaynezvalleyalliance.org/
 
Thank you for this Ivy.
The estate mentioned at one point that the children would receive $30million into their trusts every 6 months... maybe I missed it but I don't see that here. The first deposit of $30million was in Sept 2011 and another less than 6 months later if I remember correctly. Does anyone know anything about this?

Hate to say it without the documentation but I read someplace that the Estate said that the children's trust already has 90 million.
 
Thank you, thank you!
I just couldn't understand this siblings antics for I know from personal experience that Estate's have Accountants Statements, etc. and so much more this one that goes to probate court.
 
certainly this is wrong here but I don't know a better place for that...


I have a question about lesliemjhu and I’m worried about Leslie.

Maybe knows somebody why Leslie shut up her blog.

The last entry in Leslie’s blog was about the business in Asia by D. Wiesner with Michael’s HIStory-logo.
One or two days late Leslie’s Blog was away….

I’m worried because in June I wrote in the german forum mj.net about Wiesner’s Asia connections too and I get a mail by the forum owner. He wrote Wiesner had called him because my articles about Wiesner are too negativ; Wiesner is thinking about a report to the police against me IF I not call him by phone.
I wrote retour I don’t will speak with Wiesner and he can go to the police…
After that I was banned in the mj.net forum.

Wiesner works with intimidations and threats.
Maybe there is a correlation between the last entry in Leslie’s blog and the shut down of it.

If somebody is in contact with Leslie: Please ask her, wheter she is okay!!!!
(and please send a mail to me)
 
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Mneme;3698050 said:
certainly this is wrong here but I don't know a better place for that...


I have a question about lesliemjhu and I’m worried about Leslie.

Maybe knows somebody why Leslie shut up her blog.

Bubs;3696803 said:
I contacted on Leslie and she replied its a temporary thing/problem.

.....
 
Mneme if Weisner can try to intimidate you in this way, can you imagine what he did to Michael who had more resources that he wanted to exploit?
 
Mneme;3698050 said:
certainly this is wrong here but I don't know a better place for that...


I have a question about lesliemjhu and I’m worried about Leslie.

Maybe knows somebody why Leslie shut up her blog.

The last entry in Leslie’s blog was about the business in Asia by D. Wiesner with Michael’s HIStory-logo.
One or two days late Leslie’s Blog was away….

I’m worried because in June I wrote in the german forum mj.net about Wiesner’s Asia connections too and I get a mail by the forum owner. He wrote Wiesner had called him because my articles about Wiesner are too negativ; Wiesner is thinking about a report to the police against me IF I not call him by phone.
I wrote retour I don’t will speak with Wiesner and he can go to the police…
After that I was banned in the mj.net forum.

Wiesner works with intimidations and threats.
Maybe there is a correlation between the last entry in Leslie’s blog and the shut down of it.

If somebody is in contact with Leslie: Please ask her, wheter she is okay!!!!
(and please send a mail to me)

Mneme, sorry to hear you were banned from the forum. If you wrote the truth about Weisner, even if it was negative, it is not your fault. He's the only one responsible for his own actions. Don't feel bad, keep your head up, and be proud of yourself for speaking the truth. I'm proud of you.
 
Mneme if Weisner can try to intimidate you in this way, can you imagine what he did to Michael who had more resources that he wanted to exploit?

Things cannot be too good for Dieter if he has time to spend in fan forums.
Joe has no problems working with him, and wasn't Prince sent to Germany to show up in Wiesner's publicity charade?
He is as much crook as Mann and Co.

Maybe we should open another thread in trial and tribulations section for Wiesner?
 
Many thanks for your answers about Leslie!
I’m quite relieved now. Really: I got into a light panic but only about Leslie who stays in Hungaria and is alone there….

@Bubs: There is a time and a place for everything. The wheel of time turns for Wiesner too…. We must only wait.
 
I saw this reported:

http://abcnews.go.com/blogs/enterta...r-michael-jacksons-kids-remains-empty-report/
Sep 3, 2012 2:13pm
[h=1]Trust Fund for Michael Jackson’s Kids Remains Empty: Report[/h]
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Credit: Lester Cohen/WireImage/Getty Images.

Although Michael Jackson has made nearly $600 million since his 2009 death, the planned trust fund created for his three children remains empty, according to the New York Daily News.
The paper reported today that lawyers and accountants believe it could take years before they’re able to sort through all of Jackson’s debts and legal bills and put money in the trust fund. In the meantime, Paris Michael, Prince Michael, and Prince Michael II (better known as Blanket) live on a $70,000 per month family allowance controlled by estate executors and overseen by a judge. Katherine Jackson, who was re-established as their legal guardian in August after a guardianship dispute earlier this summer, has control over those funds.
The Daily News said Jackson’s family trust calls for the King of Pop’s three kids to share 50-percent of the trust balance, while the other half will go to Katherine Jackson during her lifetime. The 82-year-old Jackson family matriarch also has yet to receive anything from the trust.
RELATED: Who’s Who in the Jackson Family Feud
Meanwhile, a batch of emails obtained by the Los Angeles Times shows that the people plotting Michael Jackson’s 2009 comeback were seriously concerned about his stability. 250 pages of messages between executives at the Anschutz Entertainment Group (AEG), the group financing Michael Jackson’s 50-show engagement in London, describe the pop king as “drunk and despondent” and an “emotionally paralyzed mess.” The emails will likely factor into two lawsuits set to go to trial next year.
 
jrsfan;3702101 said:
I saw this reported:

http://abcnews.go.com/blogs/enterta...r-michael-jacksons-kids-remains-empty-report/
Sep 3, 2012 2:13pm
[h=1]Trust Fund for Michael Jackson’s Kids Remains Empty: Report[/h]
transparent.gif
Email
transparent.gif
3 Smaller Font Text Larger Text | Print

gty_prince_paris_blanket_jackson_thg_120903_wblog.jpg
Credit: Lester Cohen/WireImage/Getty Images.

Although Michael Jackson has made nearly $600 million since his 2009 death, the planned trust fund created for his three children remains empty, according to the New York Daily News.
The paper reported today that lawyers and accountants believe it could take years before they’re able to sort through all of Jackson’s debts and legal bills and put money in the trust fund. In the meantime, Paris Michael, Prince Michael, and Prince Michael II (better known as Blanket) live on a $70,000 per month family allowance controlled by estate executors and overseen by a judge. Katherine Jackson, who was re-established as their legal guardian in August after a guardianship dispute earlier this summer, has control over those funds.
The Daily News said Jackson’s family trust calls for the King of Pop’s three kids to share 50-percent of the trust balance, while the other half will go to Katherine Jackson during her lifetime. The 82-year-old Jackson family matriarch also has yet to receive anything from the trust.
RELATED: Who’s Who in the Jackson Family Feud
Meanwhile, a batch of emails obtained by the Los Angeles Times shows that the people plotting Michael Jackson’s 2009 comeback were seriously concerned about his stability. 250 pages of messages between executives at the Anschutz Entertainment Group (AEG), the group financing Michael Jackson’s 50-show engagement in London, describe the pop king as “drunk and despondent” and an “emotionally paralyzed mess.” The emails will likely factor into two lawsuits set to go to trial next year.

I'll make this really really simple

Law says "first pay ALL the debts then you can give money to beneficiaries" . That's the rule that everyone has to adhere.

MJ Estate still has debt to pay. You all see the second accounting that they need at least one more year. That's a fact.

MJ Estate also asked for permission from the judge to make a initial $30 Million transfer to the beneficiaries account. Court only approved it on February 2012. Estate is also in the process of forming PPB Inc etc for the distributions of assets.

In short it will all happen in due time and anyone that cannot understand "first all the debt should be paid" is not that bright.

And MJ's kids do not live on $70,000 per month ($980,000 for 14 months), with all the perks and additional stuff they were paid $2,139,194 for the 14 months (Nov 2010- Dec 2011) which equals to $152,800 per month which is double the allowance number reported.
 
Ivy thank God there are people like you who have the patience to respond to a Daily news article like the above^^. I hope we all know that the Daily News does not research rumors before spewing it out on paper. Why such drivel is posted here when we have the figures from the accounting which quickly refute some of the nonsense in that article, I do not know.
 
Ivy thank God there are people like you who have the patience to respond to a Daily news article like the above^^. I hope we all know that the Daily News does not research rumors before spewing it out on paper. Why such drivel is posted here when we have the figures from the accounting which quickly refute some of the nonsense in that article, I do not know.

Now TMZ has picked up and posted this garbage on their website. Anyone who can't see this BS is designed to divide, smear and trash Michael's legacy is as blind as a bat.

Ivy rules, rocks & rolls!!! Long live King MJ.
 
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Randy and the other three planted this story. It has their paw prints all over it.

Who ever leaked this is so stupid. Did they forget that executors did asked permission from judge to fund family trust, but obviously he said no as Ivy already said it, depts has to be paid first.

For reference for those who didn't know it, here it is:
Last week the co-executors of Michael Jackson's estate, John Branca and John McClain, filed a petition with the Los Angeles probate court asking the probate judge for permission to fund the Michael Jackson Family Trust with $30 million in revenues generated by the estate. This is a testament to the money-making machine Michael Jackson's estate has become despite the fact that the King of Pop died millions of dollars in debt. The Michael Jackson Family Trust provides that 50% of the requested $30 million will be set aside for Jackson's three minor children, Michael Joseph "Prince" Jackson, Jr., Paris Katherine Michael Jackson, and Prince Michael "Blanket" Jackson II, and the remaining 50% will be set aside for the benefit of his mother, Katherine Jackson.
http://wills.about.com/b/2011/09/21...ly-trust-with-30-million-sell-encino-home.htm

Maybe executors can pay the depts a little faster if K stops spending a fortune to her lawyers and some siblings start paying their own child support:doh:
 
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