Katherine's attorney, Burt Levitch, claims there are numerous bank accounts of Michael's that are being controlled by third parties. He says the bank accounts are used "to pay expenses of [Michael's] parents' home." Levitch says these bank accounts need to be controlled so third parties don't misspend the money.
Levitch also says there is worry about Michael's stake in the Sony-ATV Music Publishing Catalog -- which includes Beatles' works -- that Levitch says is the most important asset in the estate. Levitch says no one is now representing Michael's interests and he wants Katherine to step in her late son's shoes.
Levitch says at least one person is claiming to have a power of attorney to act on Michael's behalf. Although a power of attorney would have ended when Michael died, Levitch worries that not everyone knows that and assets could be misappropriated.
And the family is questioning whether a will really exists, because no one has informed them of that fact. We're told attorney John Branca, who was re-hired by Michael three weeks ago, is in possession of a will.
Katherine has the right under the order "to control tangible personal property currently in the physical possession of a third party, and to marshall and secure such assets."