TMZ: Jackson Family Upset Over MJ Charities

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TMZ: Jackson Family Upset Over MJ Charities

Post by ballongiraf on Thu Sep 10, 2009 3:33 am

Jackson Family Upset Over MJ Charities

Posted Sep 10th 2009 2:00AM by TMZ Staff

Michael Jackson's family is upset over the charities that are supposed to get 20% of Michael's estate — that's what family sources tell TMZ.

Here's the deal — the family's concern is premature. No charities have been picked yet and no money will be donated for somewhere between 1 and 2 years.

Under the terms of the trust, Michael gave charities 20% of the value of his estate. Problem is — no one knows how much the estate is worth and until it's determined, no money will go to any charity.

The creditor's claims are still being filed and we're told it will take between 1 and 2 years for the state and the probate judge to settle the creditor's claims and determine the net value of the estate.

As for who decides which charities get the 20% — we've learned the trust provides for a committee of three people who will make that decision — Katherine Jackson and co-executors John Branca and John McClain.

The trust doesn't specify how decisions are made if the committee is divided. It could be majority rule, it could be that each committee member gets to pick a certain number of charities or they could set other ground rules.

Go figure — Michael Jackson didn't account for the possibility that people in his world might disagree.

Read more: http://www.tmz.com/#ixzz0Qga1w65M

So now they are mad that half of the money goes to charities … because that'll mean they'll "only" get half......
For MJ's sake i REALLY, REALLY hope that this is a hoax, otherwise he has the most cold, money greedy family i've ever heard of!
Maybe this is why Katherine is so detemined to have the will contested?


Last edited by ballongiraf on Thu Sep 10, 2009 3:38 am; edited 1 time in total
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by Human_nature on Thu Sep 10, 2009 3:37 am

"Wherever. Whatever. Have a nice day."


Last edited by Human_nature on Wed Sep 16, 2009 7:51 pm; edited 1 time in total
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by ilprincipe on Thu Sep 10, 2009 3:40 am

Good morning.
I visited TMZ this morning already and read the same...
It will take time until the charities get to see some money...

there was another report on TMZ
it will also last until NEverland will be a tourist attraction....

http://www.tmz.com/2009/09/10/neverland-owners-make-trademark-move/

Delays...we know this from the last months...

for me another confirmation of a hoax Smile
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by ballongiraf on Thu Sep 10, 2009 3:42 am

yeah, it'll take time before the charities sees the money. I just hope that the reason why the family is "unhappy" is because that'll delay the pay-out (=help the hoax).

I also read the 2nd article you've posted; and it says that the family is also unhappy about that......
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by EarthAngel90 on Thu Sep 10, 2009 3:47 am

So they don't know the Estate's Monetary Value & Half of the Monetary Value is to the Charities of Michael's Choosing … So they are mad that half of the money goes out the charities … they will not the whole amount of money they get if they know it ????!!!! Not Shocked By That at all …. I have a feeling that Michael planned that for a reason
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by ballongiraf on Thu Sep 10, 2009 3:48 am

^ yeah, i think he did it for a reason too. He must've known how money hungry his family truly is.....
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by DreamsComeTrue on Thu Sep 10, 2009 3:51 am

That family trys really hard to make us believe they are cruel people! Everything that they are doing, it's not right!

I betthat they are acting!
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by Smelly on Thu Sep 10, 2009 3:52 am

LMAO DCT!!
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by marsheliamorgan on Thu Sep 10, 2009 3:57 am

doesnt it say in michaels will if ANYONE contested it,they would automatically become disinherited from the will?i know there was a clause in it to that effect somehow,so,if katherine contests the will IN ANY WAY,shouldnt or wouldnt she be disinherited?isnt that basically what she was trying to do with the executors of the will?wouldnt that also be considered contesting it?and she hasnt been disinherited so couldnt that mean also that michael IS behind this?i pray he is cause if he isnt these are cold hearted rotten family to disobey his last wishes after all he has done for them too,
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by DreamsComeTrue on Thu Sep 10, 2009 3:58 am

Smelly wrote:LMAO DCT!!

That's true! I can't see Katherine doing that! She's a good woman! If it was for Joe, I think he would have fight for every cent!
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by Give.In.To.Me on Thu Sep 10, 2009 4:01 am

I love the Jackson Family...they give out the best hoax theory diversions ever!!! MJ is teaching them well They are all in on it!
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by GirlSaturday on Thu Sep 10, 2009 5:54 am

So are they saying that money cannot be fully released for another 1-2 years? It read to me like the creditors will be paid first before the full value can be determined and split according the will.

ballongiraf wrote:Jackson Family Upset Over MJ Charities

Posted Sep 10th 2009 2:00AM by TMZ Staff

Michael Jackson's family is upset over the charities that are supposed to get 20% of Michael's estate — that's what family sources tell TMZ.

Here's the deal — the family's concern is premature. No charities have been picked yet and no money will be donated for somewhere between 1 and 2 years.

Under the terms of the trust, Michael gave charities 20% of the value of his estate. Problem is — no one knows how much the estate is worth and until it's determined, no money will go to any charity.

The creditor's claims are still being filed and we're told it will take between 1 and 2 years for the state and the probate judge to settle the creditor's claims and determine the net value of the estate.

As for who decides which charities get the 20% — we've learned the trust provides for a committee of three people who will make that decision — Katherine Jackson and co-executors John Branca and John McClain.

The trust doesn't specify how decisions are made if the committee is divided. It could be majority rule, it could be that each committee member gets to pick a certain number of charities or they could set other ground rules.

Go figure — Michael Jackson didn't account for the possibility that people in his world might disagree.

Read more: http://www.tmz.com/#ixzz0Qga1w65M

So now they are mad that half of the money goes to charities … because that'll mean they'll "only" get half......
For MJ's sake i REALLY, REALLY hope that this is a hoax, otherwise he has the most cold, money greedy family i've ever heard of!
Maybe this is why Katherine is so detemined to have the will contested?
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by Harleyblonde on Thu Sep 10, 2009 6:03 am

HELP!! you are all talking as if he is really dead. Please try to explain plots/schemes etc and how will he pay all his debts if everyone else gets the money??
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Re: TMZ: Jackson Family Upset Over MJ Charities

Post by GirlSaturday on Thu Sep 10, 2009 6:12 am

I am simply trying to understand the 'next steps" within the process. I don't have wealthy relatives or friends who "die" and leave wills that are potentially worth hundreds of millions of dollars. This is all new to me so I do have lots of questions.


Harleyblonde wrote:HELP!! you are all talking as if he is really dead. Please try to explain plots/schemes etc and how will he pay all his debts if everyone else gets the money??
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