mdiegee210
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Will Michael's estate one day own Neverland 100%?
Thanks Windy and Ivy.
I thought Janet bought LV house for Katherine, but Joe is living there now? Shouldn't Janet fork over the money for it upkeep?
Gary home, I thought cousin lives there?
Will Michael's estate one day own Neverland 100%?
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?
It is crazy that on top of all the money Katherine gets she also has a loan of over 6 mil. How does she repay? Does the estate take a few thousand out of her allowance each month. She is already in her 80s, so they will have to take a large amount to ensure all is paid back.
These professional fees, do they involve the attorneys that she is using to sue AEG? It would be interesting to see what her bills for professional fees were before 09. Why is she the only one covering the expenses of the house in Gary. I thought this was a family house, but it seems only Michael pays for it. The home in Las Vegas, who owns it? Katherine or the family? Here again Michael pays for it, and who is living in the home right now? Here we have the estate asking the judge to allow the increases, and yet the estate is attacked.
I have a question does the loans all have to be paid off before estate is closed? Is that the reason for needing another year to finish.
Btw the estate is obliged to send the copy of the accounting documents to the beneficiaries- children's guadian ad litem and Katherine. I am sure both of them have seen this already. The executors did a great jobs and I felt sorry for them to deal with those greedy, delusional, irrational, useless Jacksons and their sense of entitlement.
Will Michael's estate one day own Neverland 100%?
Katherine is making it clear that the additonal money goes to properties that neither she or the Estate owns so why is it expected that the judge will grant her increase?
Joseph Jackson is living at the "Sky Las Vegas Condominiums."
http://www.skylasvegas.com/
Condo payments $15,569 (unless it is the townhouse/condo Alejandro is living in)
Sky Las Vegas is a 45-story luxury condominium located directly on the Las Vegas strip next to the Sahara resort hotel. The homes at Sky range from 870 to 5500 square feet and feature luxurious touches and amazing views. Amenities include valet parking, fitness center, business center, spa, billiard room, concierge services and over an acre of green space including a pool and gardens.
http://www.highrises.com/las-vegas/sky-condos/
Joseph Jackson is living at the "Sky Las Vegas Condominiums."
http://www.skylasvegas.com/
Condo payments $15,569 (unless it is the townhouse/condo Alejandro is living in)
Sky Las Vegas is a 45-story luxury condominium located directly on the Las Vegas strip next to the Sahara resort hotel. The homes at Sky range from 870 to 5500 square feet and feature luxurious touches and amazing views. Amenities include valet parking, fitness center, business center, spa, billiard room, concierge services and over an acre of green space including a pool and gardens.
http://www.highrises.com/las-vegas/sky-condos/
sure
I think it was always 87.5% share. The media reported that MJ was partners with Colony capital and I guess everyone assumed it was 50-50. Estate accounting has always shown it as a 87.5% share
They make money from sony/ATV - I think it's $82 Million in this accounting (Memefan can correct me if I'm wrong) but remember most of that income is going to pay the loan on it.
Condo payments $15,569 (unless it is the townhouse/condo Alejandro is living in)
Condo payments are probably for MJ's condo. Alejandra & her kids live there.
Nothing to do with Joe..so let's not get carried away.
They make money from sony/ATV - I think it's $82 Million in this accounting (Memefan can correct me if I'm wrong) but remember most of that income is going to pay the loan on it.
They received $16M from Sony/ATV and $9.5M was used to pay the loan.
You can refer to Schedule D (p7 of 65) Ref# 9 or the MJ ATV publishing company Income Statement on schedule C-9 (p65 of 65).
Correct me if i am wrong, but all Sony/ATV payments go to that trust account.
The $84M listed on Schedule I (p53 of 65) is the Ending value of Mijac Trust. But last year, Mijac Trust brought in $37M in revenue.
I'm reading the Creditor's Filed Claims page and something got my attention: Jackson (sic) Malachi was claiming an unknown amount of money in 8/25/09. The claim was rejected in 4/9/10.
Ivy's summary is on point, i think it's important for all to understand that the estate won't be "debt-free" at the end of 2012. The Sony/ATV debt (300M before it was refinanced) is still there...The estate seems to have a payment schedule with Sony that wasn't made public. I am sure it is being paid, we are just not privy to all the information.
We can speculate payments are taken directly from Sony projects' royalties, because I looked over all RECEIPTS, and there is nothing from Sony. That's what led me to believe payments are taken directly to pay off the 300M loan.
...
8) Schedule C-9 (p65 of 65)
Gross revenue in MJ ATV Trust: $17M and $9.5M used to pay debt
Thanks for going through this and explaining things. still beyond me why they are paying for jerms x and kids how longs that gonna last for. it really is a joke when jerm and co have the gaul to accuse branca.
Thanks for going through this and explaining things. still beyond me why they are paying for jerms x and kids how longs that gonna last for. it really is a joke when jerm and co have the gaul to accuse branca.
are they paying alejandra? I think they offered the condo to her if she agreed to not writing a book but she declined it.
the main payment of Lindley condo is the mortgage payment. They also pay utilities - gas and water - but it seems to be minimal. Condo might be unoccupied.
I haven't had a chance to read this yet but does it take into account earnings from some of the smaller deals that the Estate have done such as Panini trading cards, Bravado merchandise, Playmates dolls etc etc?
They are saying they have made $30 million in the last 6 months? Am I reading that right?
Probate basically means pays debts that the person owes and then transfer the remaining assets to the beneficiaries. Estate still needs time to close all the debts and ongoing creditors claims and lawsuits and such.
I want people to be aware of this. Running an Estate isn't something that Executors do whatever they please with no one seeing what they do. They are by law required to file accounting for Judge to oversee them, they are required to give notice to the beneficiaries of the accounting. Beneficiaries can also ask for more detailed information to audit the Estate. So actually any wrongdoing is actually highly unlikely given the fact that everything they do is under supervision and can be looked into.
Malachi Jackson - full name Prince Michael Malachi Jet Jackson- was the guy that claimed Michael was his father and asked for paternity test, Estate denied the request.
7) I haven't been able to locate the $30M that was transferred to the MJ Family Trust. It might have been done after, I can't recall when the request was submitted to the probate judge.