Several friends have been burned by Michael Jackson in his death.
Michael Jackson has been dead for years now.
But as you have likely read in my previous posts on this subject, the "King of Pop" is still making money for his estate.
A lot of money.
What will happen to this money?
According to a recent Trust Advisor article titled “Michael Jackson Estate Reveals Mr. Hyde Side: Dead Star Now Fighting His Friends,” it will definitely not go to his publicist or former management team.
After several years, they lost a battle with his estate.
What was the battle over?
In short, quite a bit of income.
There were no legal documents to back up this claim.
Deals on a handshake do not count, especially when one of the main parties is dead.
Ties were severed and winner takes all—i.e., the estate.
The executors of the estate are working to maximize the inheritance for the heirs.
Who gets what?
The mother of Michael Jackson will receive 40 percent of the income of estate.
When his children respectively turn 30, they will each receive the rest in three installments.
Because debts are now paid, the estate can focus on growth.
And grow it will.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Trust Advisor (April 3, 2017) “Michael Jackson Estate Reveals Mr. Hyde Side: Dead Star Now Fighting His Friends”