Jackson's Mother Will Keep Watchtower Afloat
by bluesapphire 8 Replies latest jw friends
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bluesapphire
http://news.yahoo.com/s/afp/20090918/en_afp/entertainmentusmusicjacksonmoney
Darniit if I can't insert a freaking thing!!!
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Black Sheep
Fri Sep 18, 5:15 am ET
LOS ANGELES (AFP) – Michael Jackson's mother and children are receiving more than 86,000 dollars every month from the late pop star's estate, according to court documents.
Under allowances approved by Los Angeles Superior Court judge Mitchell Beckloff, Jackson's mother Katherine is paid a monthly sum of 26,000 dollars while the singer's three children receive 60,000 dollars.
The allowances were confirmed at a hearing in August but the amounts were only disclosed on Thursday.
The administrators of Jackson's estate had requested a special allowance for the star's mother, noting that the 79-year-old's only other source of income was her pension.
Jackson, 50, died on June 25 after consuming a lethal cocktail of powerful prescription drugs . His death is being treated as a homicide.
Jackson, one of the most influential figures in pop music history whose four-decade career included the highest-selling album of all-time, "Thriller," had been preparing for a July concert comeback at the time of his death.
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straightshooter
Wow that is alot of money for raising children.
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Goshawk
Is it harder to be comfortably wealthy and be an active JW.
Goshawk
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On old marine once told me that the world is a sh*t sandwich, but the more bread you had the less crap you had to eat.
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AGuest
May you have peace! I would like to respond, if I may - thank you!
I personally don't think the title of this thread is fair for a couple/few reasons:
1. Mrs. Jackson and the kids are all beneficiaries of the Trust. By law, Mrs. Jackson can petition the [Probate] Court for release of funds from the trust, including a monthly living allowance. As guardian of the children, she must also petition on their behalf as well. This is what the whole "Katherine Jackson Going to Court for Custody" thing was about. What the media quite strategically left out is that although the will named her as guardian, she had to petition the court to establish that custody LEGALLY (i.e., create a legal record), so that she could conduct business on their behalf. (For those who don't know, both Debbie Rowe and Dr. Klein HAD to attend the hearings because a notice and summons MUST go out to ALL persons who MAY have an interest in the custody/well-being of the children. And it takes some time because the list may be long, all parties may not yet be known, and/or those contacted may not have responded by the deadline date and so a second notice may need to go out. Since Debbie Rowe is the older two children’s biological mother, she definitely HAD to be included. Since Dr. Klein made a public statement that he could be the father - or something to that effect - he also HAD to be included. Neither ever had any interest in seeking custody as that had all been worked out with Michael beforehand. Unfortunately, these truths don't sell tabloids or air time. The delays were most probably NOT due to Rowe, as the media suggested, but to the court trying to find out who BLANKET’S mother was, because she, too, would have to be notified. Since no one knows, most probably a notice was “published” in a local paper for a couple/few weeks – usually 4 weeks – and when she didn’t respond, they moved forward. I digress…)
2. As guardian and caretaker for the children Mrs. Jackson is entitled to, and most likely receives, additional compensation for caring for the kids (which is why her share is $9,000 more than theirs – most probably $3,000/month for each child). By law, however, she is entitled to that, under the trust.... as are the three (3) executors named in the trust (trust me, they’re getting a ‘pretty penny’ for their services. That’s why people agree to do it: probate is a tough thing on its own and executing a trust for a family that doesn’t want you to is even tougher). Probate executorship is not only a compensated position, but a protected one. In this case, although there are three (3) positions named in the trust, currently only two executors are performing; the third declined and it is for that position (which the media also failed to disclose) that Mrs. Jackson is petitioning… NOT some new position or to take one from someone. Michael's trust CALLS for three executors and states that should any one of those HE chose not want to sit, the other two must choose a replacement. Since there cannot only be two, Mrs. Jackson feels that, as his mother, she would be the best person. I have to say that I would agree, as there should be at least one family member involved. Michael is dead... he NEVER spoke ill of his mother... and so since she's caring for his children, I can't see where he would object. She can't do anything without the consent of the other two, anyway.
3. In order to get the amounts stated, Mrs. Jackson had to present evidence, including tax returns, receipts, affidavits, cancelled checks, credit card receipts, and witnesses, to justify the amount(s). Both the court AND/OR the executors could have objected and the court set different amounts. Could be she asked for more and this is what she got. Either way, this is what the court… and the trust executors (whose job it is to make sure the trust is administered accurately and honestly)… AGREED she should have, based on a review of her and the children's expenses (don't forget, there's a nanny, cook, tutors, music and dancing lessons, instruments and equipment etc.).
4. Although she can use her share(s) anyway she pleases (unless there is a clause in the trust that says it MUST be used for such-and-such and CANNOT be used for such-and-such), she can only use the children’s share(s) (1) in the way Michael stated in the trust, (2) in conformity with their previous lives – which she must show- and (3) as the court approves. She cannot use their money for her own purposes… she can’t even borrow from it!... AND… she MUST give an annual (or more frequent, if court-ordered) accounting. So…
5. Most likely, a CPA and attorney (and possibly more than one of each, given the size of the estate and the fact that the children are minors) must be hired, if such hasn’t been already… the cost of which must also be taken into consideration (because I am referring to CPAs/attorneys for her and the children, NOT for the trust, which already has attorneys… who work for and advise the executors – who may also have separate, independent counsel, as well).
Finally, while I get it that Mrs. Jackson is a “devout” JW, I don’t always get it that she’s so ensconced in it that she would unreasonably use Michael’s money this way. There was NO love lost between him and the WTBTS. I can’t imagine he wouldn’t know that his mother was the “type” to give money to them. If so, he either handled it in his trust… or didn’t care. Because, given Michael’s DA’ing, the accusations of child molestation, how he had his children, etc., all of which would cause the common JW to disown their child outright… and I’ve seen it done for far, far, less… she has always remained supportive and by his side.
Jermaine is a Muslim, as are a couple other brothers, I believe. Yet, I didn’t see her turn her back on him, either. I think the Organization is just a means for her to deal with an over-bearing, quite egotistical husband, a bunch of [talented] children, one or two of whom may have a bit of genius, at least as far as pop culture is concerned, the media, paparazzi, loads of money, etc. I think, under these circumstances, [she thinks] it helps to keep her “grounded.”
Again, I bid you peace.
A slave of Christ,
SA
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OUTLAW
Aguest/Shelby..
Good post..
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WTWizard
I wonder what I could do with just the part of that money that ends up in the Worldwide Pedophile Defense Fund. I bet that amount will be plenty--I could easily live on this amount of money (out of $26,000 a month for the mother and $20,000 per child, I bet something like $80,000 total will go into that Worldwide Pedophile Defense Fund). Taking that $80,000 per month, I would be able to buy a new house after only 3 or 4 months of savings (and have zero mortgage payments, ever), a new Lexus car after another month or so, and amply furnish the place within the year (getting good stuff, not the crap that the witlesses would want me to have).
Plus, that would be $80,000 a month that the Washtowel would not have toward protecting pedophiles, spreading the cancer worldwide (Nigeria, anyone), or plunging the whole world into the Second Dark Ages.