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Saturday, July 25, 2009

Monthly allowances for Jackson's mom.

Michael Jackson provided full financial support to his mother when he was alive and his estate should continue to do so after his death, the temporary administrators of the pop star's affairs plan to argue at a hearing next week.

In court papers filed Thursday, the administrators asked for approval to pay a monthly allowance to Katherine Jackson, 79. The specific amount requested is under seal.

"The special administrators are informed and believe that Mrs. Jackson has no other sources of income currently available other than Social Security income," lawyers for administrators John Branca and John McClain wrote in the filing.

Jackson's mother is caring for her son's three children, and the administrators requested an additional monthly allowance for them. Maybe all she wanted after all was money???

According to the court papers, the Jackson children are beneficiaries of an insurance policy "but the insurance proceeds have not yet been collected." Maybe the insurance won't give anything as the policy holder's death has no verified trace.

The allowances are among a host of issues Los Angeles County Superior Court Judge Mitchell Beckloff is to take up at a hearing Aug. 3. A 2002 will signed by Jackson appoints Branca and McClain executors and transfers Jackson's assets to a private trust that benefits his mother, his children and a number of charities. The judge has not yet ruled on the validity of the will, but he gave its executors limited control in the meantime.

The administrators' lawyers wrote in the papers that they are still analyzing Jackson's affairs but believe that he owns the family home in Encino where Katherine Jackson lives. The administrators are paying the mortgage, taxes, utilities and gardener fees at the home, their attorneys wrote.

Jackson's father, siblings and other relatives are not mentioned in the court papers, and the administrators' lawyers wrote that "no individuals other than the minor children and Mrs. Jackson are entitled to a family allowance in this estate."

Although Jackson owed creditors at least $400 million at the time of his death, his assets outweighed his debts by more than $200 million and the value of his estate has grown daily with the posthumous popularity of his music.

So what will happen to Jackson?

Only time will tell!


  1. I really want to know what will happen to his kids... but thanks for the comment! :)

  2. I feel sorry for the kids who have to endure this.


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