On June 25, 2009, news of Michael Jackson 's death aged 50 shocked the world. He'd suffered a heart attack in LA just days before he was due to begin a 50-date comeback tour. 15 years later, fans across the world are celebrating his legacy.
Jackson was over $500 million in debt at time of his death age 50 in 2009. His estate executors filed for reimbursement for costs incurred since 2018. READ MORE: Michael Jackson was over $500 million in debt at the time of his death in 2009.
The new petition comes after executors attorney John Branca asserted that Jackson's estate was burdened with debt and nearly bankrupt at the time of his death in a March court filing.The King of Pop owed money to more than 65 creditors when he died age 50 from cardiac arrest, according to court documents filed on Friday, June 21, per People
The new filing states that every six months, the attorneys managing the estate must seek court approval to receive 30% of their compensation, while they retain the remaining 70%. Jackson's son, Bigi, aka Blanket, 22, prevented his grandmother, Katherine Jackson, 93, from using the family's money to fight an ongoing legal battle.
A judge ruled against the grandmother and grandson with Blanket aka Bigi wanting to let the issue go while arguing that if Katherine wants to continue in court, she should use her million dollar allowance to pay legal fees, not the estate's money. Thanks to a 2002 will, Michael Jackson left his entire fortune to his mother, Katherine, shown here in 2005, and his three children. Katherine was also appointed as guardian
Michael Jackson's estate: A timeline 2002: Michael Jackson signs a will that bequeaths his fortune to his mother, Katherine, and his three children, Prince, Paris and Blanket.2012: Katherine mysteriously goes missing for ten days and the children's custody is handed over to a family member. 2024: Blanket ends a legal battle in which he was teamed up with his grandmother and tells her to use her own money if she wants to continue, not his father's estate.
The same year, Randy Jackson alleged that the executors of his brother's will, John Branca and John McClain, forged his brother's signature on legal documents. The letter also claimed that Michael was in New York City on the day that the will was signed in Los Angeles. Jackson purchased the ATV portion of the catalog in 1985 for $41.5 million, and he later merged it with Sony.
It would turn out to be the last will Jackson made, to Branca's surprise and to the chagrin of much of the Jackson family, who were cut out of both Jackson's money and control of his legacy. Another issue emerged in 2018 when Paris and Janet allegedly got into a feud over who would pay for the funeral of family patriarch, Joe Jackson, shown left
'Janet has said she'll pay for it because she believes Paris paying for it would be an embarrassment to the family,' the insider told Radar Online at the time. The same year that Joe Jackson died, Janet was accused of a snub against her niece when Paris was not in attendance at the Billboard Music Awards where the Rhythm Nation singer was given a lifetime achievement award.
Tvshowbiz Michael Jackson Paris Prince
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