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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!

MJ's Dad non-abuser?

LOS ANGELES, California- Michael Jackson's father told CNN's Larry King Monday night that he never beat his son or made any significant mistakes in raising him.
Joe Jackson told CNN's Larry King he suspected foul play was involved in his son's death last month.
Joe Jackson Pictures, Images and Photos
Joe Jackson told CNN's Larry King he suspected foul play was involved in his son's death last month.

Joe Jackson also said the rumor that he wanted to take the singer's children on tour as the Jackson 3 was "a bunch of jive."

Jackson repeated his suspicion that foul play was involved in his son's death last month, but he conceded he did not know what happened. He said he had been blocked from seeing or talking to his son in the days before his death.

There were indications in the interview with Jackson, who was in Las Vegas, that he was not being included in all of the family's activities in recent weeks.

When King asked about the findings of the private autopsy -- which daughter LaToya Jackson last week said she's seen -- Joe Jackson answered "Well, they have not showed it to me, Larry. I'll put it like that."

He also said he did not know where his son's body has been kept since the memorial service.

"You'd have to ask somebody that knows," he said. "I don't know."

Jackson denied that he was legally separated from Katherine Jackson -- his wife of 60 years -- although he did say he spends most of his time in Las Vegas. His wife lives in the family home in Encino, California.

He denied a report that he had agreed to sign a document saying he would not be involved in helping raise Michael Jackson's three children as a way to help his wife retain custody of them.

"I've never said I was going to sign any papers to that effect," he said.

Debbie Rowe, Michael Jackson's ex-wife and mother of his two oldest children, has not said yet whether she will challenge Katherine Jackson for custody.

Joe Jackson appeared careful to avoid any hints that he might encourage the children to enter show business, saying "they have to be what they are, kids, at the moment."

"I can't get into that right now, Larry, because, I mean, I just can't," he said.

Is he saying the truth???

The World MAY never know.

Poor Millionaire?

How's this for a twist?

michael Pictures, Images and Photos

Yesterday we broke the story that the Special Administrators of Michael Jackson's estate filed legal papers saying they just recovered $5.75 million is cash from a former financial advisor. The advisor is Dr. Tohme Tohme, who got involved with Jackson in the last year-and-a-half of his life, and he claims the money was "a secret."

In an interview last night, Dr. Tohme said the money came from recording residuals and that "It was a great secret between Michael and me." What? Didn't we hear before MJ's death that he was going more and more into debt?

Dr. Tohme claims the money was going to be used for a future Las Vegas "dream home."
MJ's plan was to buy a house? What, why not use it to pay for debts?

Tohme says Michael implored him, "Don't tell anyone about the money." He says when the singer died, he came forward and said he had the stash.

Now we should watch for more people that are doing this ,right???