TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Katherine Jackson Won't Inherit MJ's Estate

10/12/2009 11:50 AM PDT BY TMZ STAFF

TMZ has learned Michael Jackson intended to provide for his mother during her lifetime, but once she dies her share of the estate will go directly to MJ's three kids.

Katherine Jackson Michael Jackson

As we first reported, under the trust, 40% of Michael's estate goes to Katherine. The kids get 40% and the remaining 20% goes to charity. But we've learned ... Katherine Jackson will not get 40% outright.

The trustees -- John Branca and John McClain -- decide what money should go to the beneficiaries. Katherine has no voice in those decisions. Whatever remains in Katherine's trust when she dies goes directly to the children.

Bottom line -- Katherine will get a healthy stipend for the rest of her life ... now she's getting a hefty allowance and when the trust kicks in she'll probably get more. But she will not inherit 40% of her son's estate.

343 COMMENTS

No Avatar
31.

A.B.    

Does this mean she can ask for the full 40% in cash and assets and divide it between family members in her lifetime? Or does she only get the interest of 40% of the estate? There's a difference.

1748 days ago
32.

Tray    

I'm sure if there is a need for anything beyond the current allowance it will be provided. Michael wanted his mother provided for and that is exactly what is happening.... she's probably getting more now than when he was alive. As for the kids....twelve, eleven, and seven year old children don't need millions to live on. It appeared that in some ways Michael wanted them to live somewhat modestly. He didn't want them to be spoiled brats. However, if the estate continues as it is now those kids should be very financially secure adults. I have hoped all along that Katherine's part would go to the children upon her passing. That's the way he wanted it and that's the way it should be. It's very obvious that he didn't feel obligated to provide for his father and siblings. They started riding his little coattails when he was Blanket's age, and some of them are still trying to ride them in his death.

1748 days ago
33.

Michelle    

Of course it is but there was a crazy ass loan taken out on this house and Michael was trying to keep up the amouts on top of everything else but if u have been following this from day one u would know how much remodleing has been done or needs to be done but im just saying her money is to keep up the house not the kis money.... and there have been lots of things that need to happen and will happen befor it's up to par...they have to add a seperat building for scchooling a fild for out door sports and mayother thing.. the childrens teachers cost a bundle by themself since they are UCLA professors they dont coem cheap and the nannies and gards and cars and drivers and all the other things u would not think to include are there and u best belive it.. these are some of the most polished kids I have ever seen that includes speaking 6 different Langs...and can u imagin what it cost.. since thay have lived all over the world..dined with kings and princes...they cost of living when Michael was alive was threw the roof im sure and they have to maintain that if not better even I know that..and anyone who can't see that is crazy now mom is using her money to make the improvements not the childrens....

1748 days ago
34.

ELIZABETH    

JA JA JA JA JA ME ALEGRO QUE TODOS SE QUEDEN CON EL TREMENDO CUELLO POR TU DINERO, QUE SIGAN PELEANDO POR EL.

I LOVE MICHAEL TO MUCH.

1748 days ago
35.

Wow    

Why are people saying the "family" are leaches? The only people who have been trying to make money off of him is Jermaine and Joe. Latoya, Janet, and Rebbie don't need his money because they are all multi-millionaires. Latoya and Janet were smart with the money they earned and Rebbie's husband is a rich businessman. Jackie, Randy,Tito, and Marlon never leached off of Michael or tried to use his fame for their own gain. All of the nasty comments should be directed towards Jermaine and Joe because they are the two who constantly try to make a buck off of MJ.

1748 days ago
36.

OhWell    

Hey All You Jacko Fans Get Your Wacko-Jacko Mask For Halloween. Yes You Too Can Be Just Like
Your Beloved King Of Pop As He Is Right Now In His Coffin, Hurry These Are Selling fast Don’t Be Left Out

http://www.i-mockery.com/halloween/bag/wacko-jacko.php

1748 days ago
37.

lou    

To Michelle comments...

Obviously you do not have any info as to how the estate is run. First and foremost the will has a no contest clause - meaning the beneficiary cannot contest the will least they lose their inheritance. However, weeks ago the judge did allow Mrs. Jackson to contest the administrator of the will without her losing her inheritance. This is of course pending - the juge hoping for a resolution between parties Also, the $26,000 plus is for her personal expenses/allowance only, her manicure, her salon, clothes, entertainment, dining out - get the point -the house is owned by Michael, the insurances, cars, maintenance, help and other daily expenses are PAID BY THE ESTATE and each kid gets $20,000 amonth for their personal expenses, i. e. clothing, entertainment and whatever.

Branca and Mclain are the best executor of the estate - these people have been with MJ for a long time, Branca is responsible for creating deals for MJ ,all the way back to the 80s - like the Beatles/ATV catalogue, the Thriller behind the scene video, the 25% royalty fee of MJ the highest in the business and many more deals. Could you just imagine giving these task to any of the Jacksons. And of course as long as Katherine is alive - the trust will take care of her and after death, her portion will revert back to the MJ Trust ( for the kids and charity). One thing I am sure these kids do not have to work for the rest of their lives. One report states that MJ had sooo much music what is out there is only 20% of his catalogue.

All Karheine have to do is sit pretty collect her stipend plus the kids allowances each month and enjoy herself and her grandchildren. She does not have to worry where the next money is coming from to pay the bills.

There is a reason why Michael did not put any of his family in his will to manage his estate - this is sad , I know but the fact is, he does not trust them and I think since this is his family he knows better than any one of us.

MJs will is brilliant!

1748 days ago
38.

OhWell    

What the difference between Farrah Fawcett and Wacko Jacko? About 3 hours

1748 days ago
39.

admin    

look with your heart and more behind: http://www.lookin.biz

1748 days ago
40.

OhWell    

Jacko Was A Wacko.

1748 days ago
41.

Tray    

Calm down, Michelle. The kids will get everything they need and more. And if the house needs maintenance and improvements I'm sure that will happen too and it will be paid for by the estate.... especially considering the house is part of the estate. The $26,000 Katherine receives is for her regular monthly maintenance, including clothing, hair, entertainment, etc. Plus the kids get $60,000 for the same. I'm sure they don't expect her to use that allowance for something like a roof caving in or building a study room for the kids.

1748 days ago
42.

David Clarence Scott    

GOOD!!! He provided for others long enough and I am sick of seeing Jermaine every where trying to milk his death for more money. I love all of the Jacksons but enough is enough!! Jermaine needs to focus on his own career, not keeping Michael's legacy alive; he has millions of fans for that!

1748 days ago
43.

danica    

I think most people knew this when we read the will back in June. Why are you recyclng old news?

1748 days ago
44.

janicebyrne01    

I'm very relieved to hear that Michael's siblings and Old Joe won't get a penny fom the estate, either directly or indirectly. I totally trust John Branca and John McClain. Despite their ups and downs over the years, they were far more loyal and trustworthy than Michael's leeching family, especially Old Joe, Jermaine and La Toyota(motormouth). Michael wanted to provide for his children and I hope that they will get good advice from a Branca/McClain person(s). Well done Michael.

1748 days ago
45.

Michelle    

But that's just it they do..Didn't u hear Harvey that money is to take care of her and the her expenises..and a house repair falls under her's granted if she needs more she has to ask for it and look at what had to happen for them just to get that allowance...and yes Tmz gave u that little list internet and assisant's things of that nature but do u really think thats it? u think Tmz is really going to put eveything? nope thats just the stuff that make people go thats what they spent money on? but im just saying...

1748 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

Around The Web