Michael Jackson's mother has claims her son's estate has left her practically penniless but is that really the case?
The Michael Jackson estate has spent $159 million so far cleaning up his finances and taking care of his mother and three children. Let’s recall Katherine Jackson’s assertion — particularly through new business partners– that she’d been left high and dry by the executors. In fact, the estate paid off the mortgage on her Encino home, called Hayvenhurst, and is currently renovating. The estate is paying for temporary digs for Mrs. Jackson, her employees, and the children in beautiful Calabasas, California.Jacked from Showbiz 411
It also turns out that Michael –no surprise here–filed no tax returns for 2006, 2007, or 2008. So the estate and its accountants, according to a petition filed with the court, has rectified all that. According to the petition, the estate has also loaned Mrs. Jackson large sums of money so that she and the children can live properly. The funds will be repaid when her trust account, left to her by Michael, is funded.
The estate has also fended off 65 different lawsuits, including one by a man who said Michael stole his formula for healing herpes. Most of the suits were frivolous, but all had to be dealt with. According to the petition, the estate has also restructured Michael’s famous gigantic loans, reducing the debts considerably.
One thing that Michael Jackson’s super fans might take note of –the executors came in and revised the agreements Michael had signed with AEG Live. Of course, those agreements were not made with Michael’s current lawyers, but through his former manager Tohme Tohme. When Michael died, he was already in debt to AEG for $40 million. That number came from expenses Jackson had incurred before even starting to perform in London.
10 comments:
Damn this is so messed up, first she looses her son and then to have to deal with this for years is just sad.
I guess it's true more money, more problems!
This old ass GREEDY bitch is not broke or going penniless, and even if she was ITS HER OWN DAMN FAULT, she supports, Randy, Jermaine, Latoya, and all their damn kids, and don't forget Joe.
Don't fall for this crap people, she spends a lot of money on her family.
"This old ass GREEDY bitch"? You all are just as bad as the people who are after Michael's money. How can you call the man, a dead man's, mother, who gave birth to him, an old greedy bitch? SAD! This world and the people in it are hopeless. Continue your journey, Michael Jackson... This world did not deserve you!
The whole thing is a damn mess and until the truth comes out about what happened to Michael, nobody is ever gonna have a days peace. seriously! All the leeches etc can just duke it out. All that matters is that MJ's children are taken care of and they will be....Michael made sure of that.
@4:25..how dare you call an old woman an "old bitch"...what did she do to you? I don't give a fart if it was your own momma your talking about!--Your ignorant ass ghetto hoodrat! Go and get an education and a damned clue bish!
this old bitch desperate for a nose or somethin????
I dunno. that is all.
Show some respect for others!!! Damn, I'm so tired of these disrectful ass bloggers who don't know facts and just vent out their ignorance online! Her son was blessed with a talent, he was the one onstage singing and dancing his ass off...if he want his mother to benefit from him so be it!!! Lay off the Jackson's they sacrifice alot by sharing their son with us!!!
You think this old ignorant woman can read to lie about the finances?
Don't feel sorry for her she probably doesn't understand what's going on. MJ probably paid for everything directly but also gave her pocket money. Right now the estate is probably paying everything directly and even making sure she has food in the fridge but she's not getting any pocket money. They need to pay off debts. I think the shits going to hit the fan once everything is paid off and they start making money.
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