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Michael Jackson -- Who Gets What

7/2/2009 7:35 PM PDT BY TMZ STAFF

Michael JacksonWe've learned who's getting what in Michael Jackson's trust. Here's how it breaks down.

Katherine Jackson will get 40% of the assets.
Michael's 3 kids will get another 40%.
And the remaining 20% goes to several children's charities. We're told the charities have not been designated yet and are not specified in the trust.

We've also learned the California Attorney General is filing legal papers right now in the probate case -- the docs relate to the charitable gifts. The A.G. regulates charities in California.

A lawyer for the A.G.'s office will be in court at the next hearing.

170 COMMENTS

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61.

SJ    

First off - no one gets squat until all liens and other claims against the estate are satisfied (these will include any outstanding legal fees, which will be greater than are the norm, since this estate will remain unsettled for some time - as a lawyer, I can assure you of that; Under CA Bar regulations, a lawyer may charge a slightly higher rate as the particularity of the work demands and this estate will prove to be specific and highly demanding to oversee and/or pursue - this is why you spend 7 to 10 years or your life and a quarter of a million dollars to become an attorney) and MJ was in deep trouble in these regards as to liquid assets. Thus the pour over, or rather the lack thereof, must be found elsewhere. Charitable trusts are typically the LAST to be taken from (this is relative to the legal constructs by which the trust was established - often trusts are used as a matter of tax sheltering and as a means to otherwise keep creditors from reaching certain assets.) In other words, the kids and the Jackson Family Trust may be getting a greatly reduced piece of the pie, and it may be many years before they see anything from which they may freely take.. That's the way life goes.

1882 days ago
62.

keikoman    

is anybody thinking about the kids? it seems to be ALL about the money with EVERYONE involved. has everyone forgotten the first words out of katherines mouth with her conversation to the nanny "where's the money? and made a beeline to get custody of the kids and the estate. also lying in the petition saying Joes address unknown. she may be the sweetest women around but as long as Joe is in the picture which he obviously is .he will still be controlling the family as always. debbie rowe is no better.it's all about the money. there's got to be an alternitive. now the jackson is going to charge 25.00 to go to a public viewing.i think that makes my point. money, money. money.

1882 days ago
63.

the truth hurts huh    

Hey Sara #66 ...... So what brilliantly PERFECT country do you come from - that doesn't have ANY "bastards and sons of bitches" ???? Thanks for leaving American WOMEN out of your insults though! Oh - I guess I might have to agree with you on most MEN being retarded - but not just Americans!! LOL

1882 days ago
64.

agnieszka    

AWWWWWWWWW....! 100 MILLION dollars will be given to charity!!!!!

He's such an angel!!!

1882 days ago
65.

Angélica Michéli Deggerone de Quevedo    

I am unconditional fan of the Michael, I am following everything that is happening e I am horrified at insensitive e greed of father Joe, if using to advantage even though of the death of the son to gain money. I am shocked! It would have to be imprisoned, for sensationalism!! E the danger that the children it Michael are running being next to this monster. That journalists if sensetizes and makes justice for Michael, would surprise me to nothing if they said that he was the father of it that it ordered the death of Michael. Michael forever!!!
Angélica Micheli-Curitiba/PR-Brasil

1882 days ago
66.

crystal    

Hope Joe Jackson croaks and never get a dirty cent of Michaels money. When his mother passes on, and not that im wishing that, his kids will get the remainder of the 40%. You did right by your kids Micahel and by donating the other 20% to childrens charities. No one else deserved anything.

1882 days ago
67.

thinkaboutit    

Those kids of his will need all the money they can get to pay for the years and years of therapy.

1882 days ago
68.

No.    

Number 75...

Either you're an incredible idiot, or you're a talented actor doing a great job of acting like one. Tell us, which is it?

1882 days ago
69.

Just-Be-Fair    

I can't believed all this people !!!!! Michael is not even buried and they already work in his will, THIS IS SICK .... He probably wasn't the best example for a lot of people, maybe a lot are sick to here about him , and many just enjoy the gossip and to know ALL THE BAD THINGS that people say about him .....

But please he was still a HUMAN BEING that deserved respect, he wasn't a criminal , if he change or not his color ( think about all the people that spend hours under the sun to get dark ?? ) or the many that had plastic surgery ?? , and Who say that father is who give you life... FATHER IS WHO RAISE YOU stop with all this gossip , leave this guy RIP, why don't focus on the good things he's done, and will still do even after dead, and I am not talking about his music, or legacy, I am talking about his generosity and love for this world and compassion , that many of us don't have. LEAVE HIM ALONE AND GIVE HIM A DECENT FUNERAL FGS..

1882 days ago
70.

Cali MJ Fan    

@ #30-- OMG, you would give Joe the money? **faints**

To again clarify-- MJ has stipulated int he trust (as reported by mainstreams network news by way of info from the Trust (not the Will) that 40% each to Katherine and Children... and then when (many years from now God willing) Katherine passes, then her 40% goes to the children.

To those referencing his debt-- have you seen Billboard charts lately? MJ's estate will soon be out of debt once John Branca & McClain become executors-- they are brilliant and have MJ's and his children's best interests at heart. MJ REALLY did a fabulous job setting up the people around him in the end ... it is just sad he didn't do this while froma drug rehab program so he could still be here for his children.

Michael, you are loved and greatly missed. May your soul soar high and free in the white light of your angels.

1882 days ago
71.

.............    

Could you imagine if some pale-faced eccentric creep came over and said he would like to invite your children over to his house to play with his dog, spend the night playing video games, and who said, "Don't worry! I;m such a child because my father always abused me and made me work on the farm, so I never had a childhood. Sharing my bed is me jsut showing love and I'm gonna give them milk and cookies, play a little music.....AHH.aaaaaaahhhhhh....it will be very sweet. It's called the Shirley Temple Room".

GAh!!!!!!! My skin would crawl and I would call the police. Amazing what people will ignore and overlook because someone was once a cute child star and is now rich and famous. Insane.

1882 days ago
72.

thinkaboutit    

Why do you people always refer to other posters by the post number? That never works as they always get changed for some reason.

1882 days ago
73.

cyrussky    

i wonder if his wife deb was made to sign papers saying she gave her kids as gifts being how powerful mj peeps where as all the others that had to sign papers to shut them up

1882 days ago
74.

RK    

The ''thriller'' might be gone, but the thrill will never leave. RIP MJ, we all love you so dearly.

1882 days ago
75.

ly9512    

He can't give 100% to his kids. He needs to give something to his mother. She raised him to be an amazing person and never doubted or ridiculed him. He always said "To me, my mother is perfection". So its no big news he would leave that much to her.

The kids will be WELL OFF with 40% on top of which they'll get from the MJ estate. He's anticipated to be the highest paid dead celebrity and a portion of that money will go to his children. So keep buying those records, kids.

1882 days ago
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