Results 1 to 8 of 8

Thread: MJ Estate Developments for the MJ Kids

   
  1. #1
    Points: 2,426, Level: 29
    Level completed: 84%, Points required for next Level: 24
    Overall activity: 0%
    Achievements:
    1000 Experience PointsVeteran

    Join Date
    Jun 2017
    Posts
    12
    Points
    2,426
    Level
    29
    Thanks
    0
    Thanked 18 Times in 5 Posts

    Default MJ Estate Developments for the MJ Kids

    Hi everyone,

    I can't share much information about this - neither I have much more - , but just found some traces of the MJ Estate to make major developments lately in the name of MJ's kids.

    The MJ Estate started to set up a holding structure for the kids as early as 2013, by having companies in Nevada, Delaware and California to hold various properties. My assumption is that these companies will replace the old companies once the estate is dissolved and the kids will take over the control of MJ's estate.

    Then they acquired 4 real estate properties (besides the new family mansion in Calabasas that was purchased in 2012 for about 12M USD):
    Las Vegas 2016 for 840,000 USD
    California 2017 for $2,028,779
    California 2017 for $2,652,000
    California 2019 for $2,368,990

    The companies' name holding these interests have a nice reference to the company MJ set up back in 2007 to buy his "Wonderland" in Las Vegas. Also it looks for me that each property is used by one kid.

    And just before the pandemic they have established five new holding entities for the kids to hold various intellectual properties (probably investments, shares?).

  2. The Following 6 Users Say Thank You to LeslieMJ For This Useful Post:


  3. #2
    Points: 5,742, Level: 48
    Level completed: 96%, Points required for next Level: 8
    Overall activity: 1.0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Aug 2012
    Posts
    4
    Points
    5,742
    Level
    48
    Thanks
    0
    Thanked 3 Times in 2 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    When will they be taking over? Hopefully they will do a better job than the people currently in control

  4. The Following 2 Users Say Thank You to mjcollector1983 For This Useful Post:


  5. #3
    Points: 15,232, Level: 79
    Level completed: 77%, Points required for next Level: 118
    Overall activity: 10.0%
    Achievements:
    Veteran10000 Experience PointsOverdrive

    Join Date
    Jul 2003
    Posts
    26,552
    Points
    15,232
    Level
    79
    Thanks
    0
    Thanked 1,474 Times in 636 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    Thanks leslie

  6. #4
    Points: 47,342, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 15.0%
    Achievements:
    Three Friends25000 Experience PointsVeteran

    Join Date
    Jul 2011
    Posts
    5,996
    Points
    47,342
    Level
    100
    Thanks
    1,961
    Thanked 2,490 Times in 998 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    That's a great informative find. Thanks for sharing.
    Quote Originally Posted by LeslieMJ View Post
    Hi everyone,

    I can't share much information about this - neither I have much more - , but just found some traces of the MJ Estate to make major developments lately in the name of MJ's kids.

    The MJ Estate started to set up a holding structure for the kids as early as 2013, by having companies in Nevada, Delaware and California to hold various properties. My assumption is that these companies will replace the old companies once the estate is dissolved and the kids will take over the control of MJ's estate.

    Then they acquired 4 real estate properties (besides the new family mansion in Calabasas that was purchased in 2012 for about 12M USD):
    Las Vegas 2016 for 840,000 USD
    California 2017 for $2,028,779
    California 2017 for $2,652,000
    California 2019 for $2,368,990

    The companies' name holding these interests have a nice reference to the company MJ set up back in 2007 to buy his "Wonderland" in Las Vegas. Also it looks for me that each property is used by one kid.

    And just before the pandemic they have established five new holding entities for the kids to hold various intellectual properties (probably investments, shares?).
    God, I thank you for allowing Michael to continue to watch over his children:

    Prince Michael, Paris, and Blanket ("Bigi").


  7. #5
    Points: 7,353, Level: 57
    Level completed: 2%, Points required for next Level: 197
    Overall activity: 4.0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Aug 2012
    Posts
    800
    Points
    7,353
    Level
    57
    Thanks
    382
    Thanked 1,110 Times in 424 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    Thanks for posting this info.

  8. #6
    Points: 17,319, Level: 83
    Level completed: 94%, Points required for next Level: 31
    Overall activity: 99.9%
    Achievements:
    Created Blog entryTagger First ClassOverdrive10000 Experience Points1 year registered
    Awards:
    Activity Award
    NatureCriminal7896's Avatar
    Join Date
    Apr 2019
    Location
    United States
    Posts
    5,324
    Points
    17,319
    Level
    83
    Thanks
    2,166
    Thanked 1,076 Times in 788 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    I think you're right. I read somewhere by the time their 25 they will have the rights. Prince is 23 we got about 2 more years before he turns 25. I don't know for sure if this true but i'm going by your post and someone else said.



    a female with major depression,generalized anxiety,behavioral and emotional disorder,ocd mild retardation, and learning disability. i'm not contagious but my smile is.

  9. #7
    Points: 29,226, Level: 99
    Level completed: 54%, Points required for next Level: 774
    Overall activity: 17.0%
    Achievements:
    Tagger First ClassVeteranOverdrive25000 Experience Points

    Join Date
    Aug 2009
    Posts
    4,040
    Points
    29,226
    Level
    99
    Thanks
    4,868
    Thanked 4,643 Times in 1,725 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    Quote Originally Posted by NatureCriminal7896 View Post
    I think you're right. I read somewhere by the time their 25 they will have the rights. Prince is 23 we got about 2 more years before he turns 25. I don't know for sure if this true but i'm going by your post and someone else said.
    Not exactly...

    The children's shares will be held in separate trusts also with John Branca and John McClain serving as co-trustees.
    Until each child reaches 21, distributions are left to the complete discretion of the co-trustees.
    At 21, each child will receive all of the net income from their own trust and principal if the co-trustees determine that the net income is not sufficient to provide for the child's "reasonable care, support, maintenance, and education."
    Each child will receive one-third of the remaining trust principal outright at 30, another one-half outright at 35, and the remaining balance outright at 40.
    In addition, the co-trustees are given the discretion to accelerate principal distributions if a child is in need of funds to buy a home, start a family, or start a business.
    'We may not change the world in one day but we still can change some things today, in our small way.'[/SIZE][/SIZE]

  10. The Following User Says Thank You to myosotis For This Useful Post:


  11. #8
    Points: 17,319, Level: 83
    Level completed: 94%, Points required for next Level: 31
    Overall activity: 99.9%
    Achievements:
    Created Blog entryTagger First ClassOverdrive10000 Experience Points1 year registered
    Awards:
    Activity Award
    NatureCriminal7896's Avatar
    Join Date
    Apr 2019
    Location
    United States
    Posts
    5,324
    Points
    17,319
    Level
    83
    Thanks
    2,166
    Thanked 1,076 Times in 788 Posts

    Default Re: MJ Estate Developments for the MJ Kids

    so yeah that person was right.



    a female with major depression,generalized anxiety,behavioral and emotional disorder,ocd mild retardation, and learning disability. i'm not contagious but my smile is.

Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •