BREAKING NEWS: Michael Jackson Wasn't So Broke After All
Posted on Jul 24, 2009 @ 08:00PM
Michael Jackson may have died owing an estimated $400 million, but in new court documents obtained by RadarOnline.com, the executors of the singer's estate assert there are "assets consist of real and personal property exceeding $500 million and that the estate is solvent."
Executors John Branca and John McClain also state they were successful in recovering over $5.5 million dollars in cash from a former unamed business advisor. RadarOnline.com has learned that the funds were in a personal Michael Jackson account and have been transferred to the Trust account.
Click Here For The Court Documents
The executors asked the Court to approve an allowance for Michael's mother Katherine Jackson and his three children, although the amount in blacked out in the documents.
Katherine has lived in the so-called Jackson family compound for 30 years with Michael paying all his mother's bills. The house, in L.A.'s Encino district, was owned by Michael and is now the property of his estate, which will continue to pay the mortgage and maintenance bills.
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Comments
KATHERINE JACKSON RESPECTFULLY IS THE WORST MOTHER IN THE WORLD.
Posted Sat, 07/25/2009 - 2:41pm
MJ has paid enough in Calif State taxes and his estate will continue to be a cash cow for the State..Let them pick up the memorial tab...RIP MJ
Posted Sat, 07/25/2009 - 6:21am
Lots of people are cash cows for the State of California. Should the State pick up the tabs for their funerals as well? Do you know how many bodies are not being picked up from coroners in CA right now? Research please.
Posted Sat, 07/25/2009 - 10:34am
The whereabouts of MJ's assets and cash flow should not be a mystery: he would have to have had CPAs to file taxes, etc. CPAs are strictly regulated in California by the state.
Posted Sat, 07/25/2009 - 1:16am
DaveK...you are obviously not from LA. The taxpayers picked up the tab for his memorial. Ignorant would be you...you couldn't pour pizz out a boot if there was a hole in the top and the directions were written on the toe.
Posted Fri, 07/24/2009 - 11:14pm
"Since he has money let him pay for his own funeral and memorial."
You can't be THAT ignorant. His memorial was paid for by family (and perhaps AEG provided the use of the stadium). Taxpayers did not pay a dime for his funeral or memorial.
Posted Fri, 07/24/2009 - 9:24pm
"With all the money Jackson had, in one way he left his kids Homeless."
That's just stupid. His estate may be worth half a billion dollars. He also owns his mothers house, so it is his house, his mother just lives there.
Posted Fri, 07/24/2009 - 9:23pm
why would Mom and Dad have to file bankruptcy when Sonny was paying for everything for over 30 years and even giving money allowances.. And just how many "extended family" members live with Gramma and leeching of Michael?
Posted Fri, 07/24/2009 - 9:18pm
How many times has his mom's house come thisclose to foreclosure? Why did she and Joe file bankruptcy? Cause NO ONE in the Jackson family wants to handle their finances responsibly.
Posted Fri, 07/24/2009 - 8:43pm
With all the money Jackson had, in one way he left his kids Homeless. He did not own a home of his own.
Posted Fri, 07/24/2009 - 8:29pm