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Los Angeles court shuts down Katherine Jackson’s Recent Appeal Over Son Michael Jackson’s Estate; REPORT
Katherine Jackson, mother of Michael Jackson lost the battle in relation to her son’s estate. Read ahead to know more.
After the ongoing legal war related to her late son, Michael Jackson's estate, Katherine Jackson, 94 has lost this battle as a Los Angeles court has decided to side with the singer’s estate co-executors, which shuts down her objections over the sale of a catalog with a huge price tag, per People magazine.
According to the outlet, the attorney John Branca and A&R executive John Mclain, the co-executors of the pop icon's estate and trustees of the Michael Jackson Family Trust, received a verdict in their favor in probate court last year that allowed them to move forward with reported USD 600 million sale of half of the late singer’s music catalog to Sony. This was objected by Katherine multiple times.
The publication obtained the court document filed on August 21 (Wednesday), and it states the 94-year-old appeal was denied as her argument lacked “merit” and was not made previously to the probate county which approved the transaction because, after a review, it was concluded that the transaction did not go against the terms of the trust.
Katherine also says that before the Billie Jean vocalist passed away in 2009, he expressed to his family members that he desired to keep the assets of his estate in the family in perpetuity. However, the new filings state that this argument did not hold water as it was the singer's desire which was stated in his will that would control the outcome of the situation.
The court documents mentioned, “Here, the will gave the executors broad powers of sale, with no exception for the specific assets at issue in this case.” The filings also stated, “As such, the probate court did not err in concluding that Michael intended to allow the executors to sell any estate assets, including those at issue in the proposed transaction.”
As per the outlet, the will of the late vocalist states that his entire estate was to be provided to the Michael Jackson Family Trust, the beneficiary, which included, Paris, Prince, and Bigi (his three children) along with unnamed charities.
According to the documents, the 94-year-old is the life beneficiary of a part of a sub-trust, which lets the trustees give as much to the sub-trust as they feel is required. In the case of Michael’s mother, she is giving the capital of her “care, support, maintenance, comfort and well-being.”
When Katherine passes away, any assets which were kept aside for her would go to the children’s share of the trust.
According to the filing, the probate court permitted Branca and McClain in 2019, to carry on the singer's businesses even though the estate has not been distributed to the trust due to issues with the IRS.
They had asked to approve the translation with Sony in a petition back in November 2022, which was granted, even after the mother of the singer objected to it.
According to the outlet, Katherine argued that the estate did not need the money that the sale would bring in. She mentioned that the assets were valuable and would be elevated over time. However, the new documents state that she agrees that the probate court may allow McClain and Branca to go ahead with the same if they desire.
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