Related links
-
Michael Jackson: Share your thoughts
Share your thoughts.
Jackson family attorney L. Londell McMillan said he saw the 2002 will for the first time last week.
"We are in the process of reviewing it. We did not see it prior to the filing. We wish we had known about it earlier," McMillan said.
Experts said the personal bankruptcy of Jackson's parents in 1999 could work against Katherine taking control of the estate.
Court documents show Katherine and Joe Jackson filed for Chapter 7 and listed nearly $24 million in debts that included court judgments, auto loans and credit cards.
The only valuable asset listed was a house in Las Vegas then valued at $290,000. The bankruptcy was terminated in March 2007, but the documents gave no further details.
"I think it would be a negative factor but not necessarily a disqualifier," said Beth Kaufman, a Washington, D.C.-based attorney specializing in estate tax issues. "It could indicate that she is not capable of sound financial management."
More details emerged about the recent state of Michael Jackson's finances. The Associated Press reported that Jackson claimed to have a net worth of $236.6 million as of March 31, 2007.
Jackson reportedly refinanced loans later in 2007 that increased his debt by tens of millions of dollars. The Sony/ATV Music Publishing joint venture Jackson was part of also spend hundreds of millions acquiring new songs.
The legendary pop star died June 25 after being rushed to UCLA Medical Center in cardiac arrest.
An autopsy completed by the Los Angeles County coroner was inconclusive, pending results of toxicology tests.
The coroner's office said there were no signs of foul play or trauma to the body, but that more tests were needed to determine the exact cause of death. Those include toxicology tests that could take up to eight weeks to complete.
The pop star's family reportedly ordered an independent autopsy. A private lab could get results sooner than the usual four to six weeks it takes the coroner's office to get toxicology reports.
The second autopsy could allow the family to get some information about Michael's death almost immediately, including signs of heart, brain or lung disease or fresh needle punctures.
Rev. Al Sharpton, a family friend, said the family was getting a second autopsy because they wanted to be sure they have all the facts, not because they have any specific suspicions.
The Jackson family wants to know who was around Michael in the days before he died. They think it's possible that handlers from concert promoter AEG Live might have been with him, but it's not clear if this is the case. AEG was organizing a multimillion-dollar series of 50 Jackson concerts in London that were slated to begin next month.
"We are in the process of reviewing it. We did not see it prior to the filing. We wish we had known about it earlier," McMillan said.
Experts said the personal bankruptcy of Jackson's parents in 1999 could work against Katherine taking control of the estate.
Court documents show Katherine and Joe Jackson filed for Chapter 7 and listed nearly $24 million in debts that included court judgments, auto loans and credit cards.
The only valuable asset listed was a house in Las Vegas then valued at $290,000. The bankruptcy was terminated in March 2007, but the documents gave no further details.
"I think it would be a negative factor but not necessarily a disqualifier," said Beth Kaufman, a Washington, D.C.-based attorney specializing in estate tax issues. "It could indicate that she is not capable of sound financial management."
More details emerged about the recent state of Michael Jackson's finances. The Associated Press reported that Jackson claimed to have a net worth of $236.6 million as of March 31, 2007.
Jackson reportedly refinanced loans later in 2007 that increased his debt by tens of millions of dollars. The Sony/ATV Music Publishing joint venture Jackson was part of also spend hundreds of millions acquiring new songs.
The legendary pop star died June 25 after being rushed to UCLA Medical Center in cardiac arrest.
An autopsy completed by the Los Angeles County coroner was inconclusive, pending results of toxicology tests.
The coroner's office said there were no signs of foul play or trauma to the body, but that more tests were needed to determine the exact cause of death. Those include toxicology tests that could take up to eight weeks to complete.
The pop star's family reportedly ordered an independent autopsy. A private lab could get results sooner than the usual four to six weeks it takes the coroner's office to get toxicology reports.
The second autopsy could allow the family to get some information about Michael's death almost immediately, including signs of heart, brain or lung disease or fresh needle punctures.
Rev. Al Sharpton, a family friend, said the family was getting a second autopsy because they wanted to be sure they have all the facts, not because they have any specific suspicions.
The Jackson family wants to know who was around Michael in the days before he died. They think it's possible that handlers from concert promoter AEG Live might have been with him, but it's not clear if this is the case. AEG was organizing a multimillion-dollar series of 50 Jackson concerts in London that were slated to begin next month.
I never believed any of the allegations against Michael Jackson. It is sad that so many judged him / when all he tried to do was good. He was an ANGEL on earth. We lost a lot of years of Michael's charm and magic because of bogus lawsuits. Just very sad. Michael Jackson was a True Miracle.
Bella @ 2:50 PM PDT, Jul 20, 2009
you were simply put a blessing.
erik @ 12:42 PM PDT, Jul 20, 2009
he could of been purple with poka dots and I would love him still
christina @ 11:37 AM PDT, Jul 20, 2009
more comments