The vigorous infighting regarding the Michael Jackson estate has split the family, forcing them to draw lines in the sand – all for the sake of money.
STORY: MJ Estate & Katherine Jackson Both Release Statements!
Michael Jackson’s estate is now worth about $1 billion, which has divided the family and become a crucial conflict in the household.
The tale of the tape is as follows: Jackson’s siblings, namely Tito, Randy, Jermaine, Janet and Rebbie Jackson, versus their mother Katherine Jackson and MJ’s three kids, Paris, Prince Michael and Blanket.
Reports of arguing within the family have fueled speculation that the beef continues to be over who will control MJ’s estate or who can get control of his kids and subsequently take hold of the King of Pop’s massive fortune.
The latest incident happened last night, as police rushed to the Jackson family home after an altercation broke out between Janet Jackson and MJ’s daughter Paris, prompting Katherine Jackson and Michael Jackson’s estate to release statements on the matter.
Click through the next few pages as we break down why the Jackson family are preparing themselves for a war.
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Five of Michael Jackson’s siblings last week said his will was fake and the executors of his lucrative estate should step down. Jackson’s entire fortune was left to his mother and three kids.
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John McClain and John Blanca are estate lawyers and executors of Michael Jackson’s estate. MJ’s siblings, Tito, Randy, Jermaine, Janet and Rebbie Jackson, believed from the beginning that his will was fake and thinks that McClain and Blanca forged the King of Pop’s signature and disinherited them from it.
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Zia Modabber is the attorney of the Jackson estate and has been more than outspoken about the current family riff, saying:
“I believe that Katherine and the children who are benefactors of the estate fall on one side, and then Randy, Jermaine and Rebbie and Tito fall on the other side…They’re a group of people who have a great deal of questions about the administration of the estate.”
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Katherine Jackson has a business partner named Howard Mann who believes money is pulling the family apart. She also has a lawyer named Sandra L. Ribera, who issued a statement today:
“Jackson family members ambushed Katherine Jackson’s home after their vehicle tore through security gates on the tails of the SUV containing Michael Jackson’s children.”
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Katherine has been raising Paris, 14, and her brothers, Prince, 15, and Blanket, 10, since MJ’s passing. In his will, Jackson named only his mother and children as beneficiaries of his estate.
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MJ’s estate plan is a “trust-based estate plan,” which means that it has a “pour over” aspect – meaning the will “pours over” the assets of Jackson’s estate into the hands of the Trustees of the Michael Jackson Family Trust.
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If Katherine is unable or unwilling to serve as the children’s guardian, then Diana Ross is named to serve as the backup guardian. So in the event that Katherine passes away, none of the siblings will take over guardianship of Michael’s children.
