Celeb News: Michael Jackson's Children's Trust is Empty

RIHDRAKEBRITUSH

Maybe Janet and Randy were on to something. Three years after Michael Jackson's death the trust fund set up for his children Prince, Paris and Blanket is sitting on empty...

From NY Daily News

Quote:

The planned trust fund for Prince, Paris and Blanket remains empty three years after Jackson’s tragic demise, despite almost $600 million generated posthumously from Jackson’s music, legendary likeness and salvaged assets.

Lawyers and accountants are still sorting through the singer’s towering pile of debts and legal bills, and the process could take another two to five years, one lawyer told the Daily News.

In the meantime, Jackson’s kids live on a family allowance tightly controlled by estate executors and overseen by a judge.

“The probate is still pending, and although almost all of Michael’s personal debt has been or is about to be paid in full, the estate is technically still in debt,” estate lawyer Howard Weitzman said. “Once all of the creditors’ claims, taxes and pending litigations have been resolved, the trusts will be funded per court order.”

http://www.nydailynews.com/entertain...icle-1.1150263

Smooth Criminal

Quote:

Originally posted by RIHDRAKEBRITUSH

Maybe Janet and Randy were on to something. Three years after Michael Jackson's death the trust fund set up for his children Prince, Paris and Blanket is sitting on empty...

The queen obviously wants those brats' wellness. Lessers, wake up.

hugox

here we go again....Even dead MJ is just the symbol of MONEY. What ever you say about MJ in magazines...people buy it !
The fortune of MJ was around 6 billion dollars when he died.

Sure there was a debt of 300 millions cash but because of the war with Sony...

So many trials are coming that we will ear a lot from tabloids and lawyers.....again

RIHDRAKEBRITUSH

I wish this will be over

hugox

No it won t be over before 10 years...

2 trials are coming between Jackson family ( but not the estate), producer, AEG....

Now we are going to ear a lot of BS. What is false? What is right?
Everything will be a strategy to try to have money during trials !