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Michael Jackson Estate Pays 10% to Executors

2/4/2010 6:07 AM PST BY TMZ STAFF

Michael Jackson The executors for the estate of Michael Jackson just got their 10%.

John McClain and John Branca had asked the judge for 10% of the profits made from a number of estate-related ventures.

The judge just approved the fee request, stating that the arrangement actually could save the estate money -- because the traditional way of making deals with managers, lawyers, etc. costs a bloody fortune.

One item excluded from the 10% -- a portion of the profits from the movie, "This Is It."

The judge also gave McClain and Branca the right to green light deals without going back to court every time for permission.

The judge gave McClain and Branca props for raking in the dough for the estate .... calling their performance "extraordinarily impressive."

184 COMMENTS

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1.

King of TMZ    

Michael I love you.....

Thank you TMZ for keeping his news alive we love you for that

Michaeeeeeeeeelll!!! aaaaahhhh... :(

1666 days ago
2.

Shesh    

I miss you MJJ

1666 days ago
3.

Linda Lovelest    

* Good *

1666 days ago
4.

causeiamok    

Yeah WHATeva.
Settle this stuff.
AND LET'S GET ON WITH THE REAL SHOW
Shall we?

1666 days ago
5.

hoocheekoo    

I love MJ but sometimes he was a train wreck. Branca, in particular, always tried to take the professional high road and was very loyal to Michael in spite of the fixes he could get himself into. He also made Michael a ton of money! I think the stage has been set for a multi-billion dollar business over the coming years. Good for Michael's children, good for Branca and McClain, good for charity, and good for us.

1666 days ago
6.

restaurant management    

Wow! It sounds like no one was looking after the kids- I guess they will reward he judge in the future with $$$ for his campaign.

1666 days ago
7.

MJ The King    

If they were name official executor (after Katherine removed her challenged back in november) why dotty still go to court for every new deals? This is time consuming and will end up costing the estate lost of money.

TMZ, can you tell us why they still need the judge approval for new deals if they are already named executors?

1666 days ago
8.

tik    

Great job guys. This estate would be bankrupt if it weren't for you, that's why Michael left it in your hands, and not the hands of others. The children are also blessed to have you handling affairs, or they wouldn't receive an allowance.

1666 days ago
10.

Em    

Kudos to Branca and McClain - as long as their efforts keep Michael Jackson's memory alive, and they have both Michael and his children's best interests at heart, I hope they continue to keep up the good work. Despite what the rumors say about Branca, he and Michael were an amazing team throughout the years. I dearly hope greed doesn't take over integrity.

1666 days ago
11.

Kelley    

Am I the only one totally sick of all this Michael Jackson crap!! Enough already.

1666 days ago
12.

Rx    

I'm waiting for them to start selling Wacko Jacko toilet paper. That will be the only brand I ever buy.

1666 days ago
13.

Duh    

Chico - just want to make sure you get my message, it's on the last page of the last board.

1666 days ago
14.

nan    

does anyone know when the heirs get their cut instead of an allowance.now that the money is pouring in , do they just have to pay the creditors and divy up the money ?

1666 days ago
15.

Daphne Lorincz    

TMZ, can you tell us why they still need the judge approval for new deals if they are already named executors?

Posted at 6:17PM on Feb 3rd 2010 by marieant0811

I think it takes time to probate a will. I heard the whole thing could take up to 2 yrs. Meanwhile, there are business deals that the estate could make, so why not. This is how the estates could earn enough $$ to support MJ3 and KJ, plus lawsuits etc.etc.

1666 days ago
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