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Jacko’s Will, Net Worth Found
The saga continues: The Associated Press reported today that contrary to previous statements from his parents, a will has surfaced for debt-ridden Michael Jackson, and that he had a net worth of $237 million in recent years. The existence of the will was announced just a day after Jackson’s mother, Katherine Jackson, petitioned to become the administrator of his estate. "If there is a will and if the will is a valid will, the whole petition to be named administrator will just fall away,” said an estate lawyer and partner at a New York law firm. Meanwhile, documents dated March 31, 2007 reveal Jackson’s lofty net worth—-and the fact that only $700,000 of that amount was in cash. While his assets totaled $567.6 million, including a 750-song catalog worth $390.6 million, the five-page report claimed that Jackson owed $331 million in debt. A Jackson family lawyer said that Jacko’s advisers are currently looking for additional documents.
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Can please stop calling Michael Jackson Jacko. It is not professional that a columnist is so disrespectful. How would you like for someone refer to you as jack ass.
tee-hee! well-played!
I agree with Jon Stewart. The man's dead now, show a little respect. Can you stop calling him Jacko? Or are you guys in some kind of writer's rut?
I agree... it's time to stop this.
micheal jackson knew the type of drugs he was taking and the effects of these drugs the jackson family also knew what he was doing the final publicity stunt for mj what a farce they have made of life another way of making more money!!!
NO!!!!! My eyes and brain cannot bear any more! I think TDB has a MJ fetish they need to scratch in order to feel like a teenager again. Have a beer and get a life.
Of course after death any person's death the vultures circle; the more valuable the net worth the larger the pack.
This estate needs an independent administrator to handle the complex issues surrounding his children, his debt, his net worth, his posthumous earnings beyond royalties, many other issues that are legally complex.
An independent administrator should cover the best interests of all. If the parents or any person who believes they should be named in the estate and are not does seek counsel an attorney would tell them they have no interests and the only guarantee for any part of his estate is litigation. His lifestyle can certainly be grounds for diminished mental capacity.
The children and if there are others they will be first and unless dealt can tie up the estate in litigation for years. There are lots of issues and legally there is no time to mourn. Legally lawyers don't care. If you are offered a condolence it's offered with an ulterior motive.
The estate could be tied up in litigation for some time and the parents may not see the end result. It may be better to have a different family member or co-administrators.
Lets talk about Jacko's unintentional suicide. The little bastard was trying to get out of work and killed himself. How ironic is that?
Ok, but how is it "ironic"?
Don't ya think?
Thank you.
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