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Michael Jackson Estate

Katherine and MJ's Kids to

Score $30 Million

9/13/2011 4:49 PM PDT BY TMZ STAFF

0913_jacksons_kids_getty_EX_2
A huge development in the Michael Jackson Estate case.  The Executors have done so well making money for the Estate since Jackson died, they want to fund the Michael Jackson Trust to the tune of $30 million for the benefit of Katherine Jackson and Michael's 3 kids.

TMZ has obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust.  According to the docs, the Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.

In addition to funding the trust, the Executors are asking the court's permission to sell the longtime family home on Hayvenhurst Avenue in Encino, CA.  According to the docs, Katherine wants to sell the house and, although no price is mentioned, the property was valued at $4,150,000 when Michael died.

The docs say Katherine wants the Estate to purchase another home and she's eying several properties, but we're told the home she really wants is the Calabasas house in which she and the kids are currently living.

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263 COMMENTS

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136.

Eleonora49    

Flying along, along on a wild Bird's wing. Flying high, way up into the Sky. Touching the clouds, kissing the nights Moon. Seeing the earthly beauty from way above. Touching the clouds, kissing the winds. Flying along, along on a wild Bird's wing. Landing high above a Mountain high. See our earth with loving beauty so untold, wild and full of mysteries still to be found. Bird so great and wonderious, fly, fly so unbound to take us to the heavenly winds to see the Rainbows and the Trees. Feeling Raindrops on my nose and on my lips. Feeling God's gift under a Bird's golden Wings. How wonderful the earth is. Feel, feel the beauty that's around.To Michael Jackson with LOVE.

1043 days ago
137.

What I Think    

Jacko
Sitting
In the wall
If he stand
Do he fall
Rotting corpse
Should be in ground
Karma has
Brought death around
Mighty glad he went away
His death has brought
A brighter day

To Michael Jackson with HATE.

1042 days ago
138.

mymjj5.    

Hi Brigha from UK!!!
Excellent post and observation!!!

1042 days ago
139.

sofi    

Hi Cherwood,your post is excellent.

1042 days ago
140.

Eleonora49    

Who cares about money? We just wish Michael was back alive and happy !!!!!Then I like to say Mrs jackson should move where the children would like to live and where theyre safe and happy !!And where the Taxes are lower!!!!!Some how maybe even neverland would be nice for the children and it is big.I would ask the children where would they like to live and take it from there.

1042 days ago
141.

Chico    

Could it be that Cherwood has decided to support the Estate? I remember those days when you weren't too sure...glad to see that you now see that Branca truly has MJ's legacy and his children as his top priority. Some of the fan site owners went to a dress rehearsal of Cirque in Montreal this weekend, and the reviews are just amazing. Branca's admirable job as the executor of the will, along with McClain, just goes to show us that Michael knew what he was doing all along. He truly was an amazing entertainer, humanitarian AND knew what he wanted for his legacy. (You know I'm just teasing, Cherwood, but I am glad to see that you can see clearly that Branca has pulled MJ's debt into a place where NOBODY, NOT AN ENTERTAINER, will be able to touch.) Good to see you here, Cher. Gearing up for the trial. JUSTICE FOR MICHAEL JACKSON.

1042 days ago
142.

Dose Of Reality    

- If MJ was convicted he would be alive today.
- If he was convicted in 1993 he would probably be alive and free.
- If he couldn't find corrupt doctors to feed his addictions he would be alive today.
- If he would have gotten treatment for his sexual dysfunctions many pubescent boys would not have been molested.
- If MJ wasn't a sexually dysfunctional person addicted to prescription drugs and medical procedures you would still have your hero making decent music and dancing well from the 90's until today.

But none of that ever happened, your hero failed you and most importantly himself and you are left with just the memories of his heyday. You even worshiped him in his later career because you were so desperate for him to relive his credible talent because he did nothing for such long periods of time. You even chose to believe anything positive said about him while denying the obvious flaws.

He said he loved his fans yet blamed his fame for his own flaws. His fans loved him to such and extent that they would forgive his monstrous ways. Where did that get everyone? Your paper hero is gone and you are all suckers for worshiping him.

1041 days ago
143.

SaraJane    

BnB: 4 hours ago

Mr BnB what suddenly brought you out of the woodwork? Ah yes……The Murray case….
Here you are yet again with your evil venom against Michael Jackson.
His innocence has been proven beyond a shadow of a doubt again and again.
The evidence that PROVES his INNONCENCE is exhaustive, but of course you know that already...
You try to convince people who know better i.e. his millions of fans through research and commitment or people who have an interest in MJ out of curiosity but they know ALREADY he was innocent of any crime.
That is BLATENTLY obvious to those who have researched the facts.

You have made a fool of yourself yet again BnB and your need for attention is quite obvious however, you have wasted your energy!!

No one will take the bait this time…...:)

LoL !!!!!!!!!!!

1041 days ago
144.

Kathysprings    

@ Chico
Branca's admirable job as the executor of the will, along with McClain, just goes to show us that Michael knew what he was doing all along.
____________________________________________________

You call charging MJ's fans up to 245.00 per person
for Cirque/fanfest an amazing job.

bump that ! You would think at that price Mike himself
would be performing, but he's not.
I wonder how Mike would feel about having his fans charged
up to 245.00 per person.
The estate does not need my money and I don't plan on
giving it to them.
bump that !!

1041 days ago
145.

Cherwood    

A place of YES - Pt.2.......
-Hey Kim! Not sure why Katherine needs to sell Hayvenhurst--especially since NONE of the proceeds will end up in HER pocket, thank God. I think it may be her attempt to disconnect herself from the past and the rest of the extended family who she regrets having to kick out of the house. However, I hope she realizes that she will have NO RIGHTS over the Calabasas home no more than she did Hayvenhurst since the Estate is purchasing it....
Maybe it is also too hard for the family to deal with Michael being gone from there, OR maybe it's simply the Executors wishes that they move so they can sell Hayvenhurst to SOMEONE who wants to turn it into a museum.....only thing is, that SOMEONE would have to purchase many of the surrounding homes as well in order to rezone for traffic that a type of "Graceland" would bring.....
-Hey Nan, that post ROCKED!! You wrote:
"Michael Jackson was not broke..he was being robbed by people who were giving him loans at exorbitant rates to break his back to get his assets..he always wore the same clothes and beat up loafers off stage..was very humble.....the money was being stolen by handlers ,Sony, some supposedly caring friends like the spoon bender and lets not forget tom sneddon and henchmen on this thing..and yes..sneddon reputation will be under scrutiny ......... that of a corrupt,bigoted distinct atty..... the f.b.i. files and court transcripts are on line..what a complete disgrace to his office ..
i believe their is a federal level investigation started by the atty general on mr sneddons actions.."
Now you KNOW we have to discuss this thing about Sneddon being under FEDERAL INVESTIGATION for his actions while in office--it's ABOUT TIME!! Do you have the article/do***ent you got this from?
-Raw Shoshanna, I'm with you on that one, but I'm sure the Estate HAS to go through PROBATE before paying anything out--meaning they HAVE to settle ALL CLAIMS before paying the benficiaries. From what I can see, they're asking if they can put the money into the MJFT, but that doesn't mean Katherine and the Children will get that money right away. They're receiving an allowance that's been deemed more than enough to maintain the lifestyle they're accustomed to.....
-Janar, here you go again....as a SO-CALLED FAN of Michael's, I would think you would understand that he didn't SEE color in anyone and this is why he appealed to ALL races. I'm black also, and grew up in the same era he did so you have to realize there was a TOTALLY different mindset back then. Michael worked most of his LIFE trying to overcome the RACE card--people telling him what he could and couldn't do as a young Black man. That is also what ultimately made him stronger: he refused to let ANYONE tell him what he was capable of....
And why are you dwelling on his marriages and children? You DO realize this is 2011, don't you? Michael didn't a THING to appease white media...WHAT? The same Media who tried to label him a freak, addict, and criminal? C'mon now, he knew they weren't on his side ever since 1987 when he released the 2nd best-selling Album of that era, purchased Neverland and turned it into an Amusement Park, and purchased the "Holy Grail" of Music: The ATV catalog.......
Bottom line, there's NOTHING for anyone who is TRULY a Michael Fan/Supporter to believe about what you and that IDIOT Jemma said. For one, both of you need to go back and do some research and you'll realize nothing matters except for the fact that MICHAEL LOVED PPB unconditionally, and they loved him the same way. I firmly believe that without THEM, he may not have made it through the 2005 tragedy. Knowing they were ALWAYS there at home, waiting for him is what kept him going. If you're EVER in a position even CLOSE to that, you'll realize that it's great to have friends, family, or Fans, but there's NOTHING that can compare to a young child who is dependant and looking to you for their sustenance, love, EVERYTHING......
.................SIZZLING..................

1041 days ago
146.

sofi    

Hi Cherwood.i need your expertise again,if of course it doesn't take up much of your time.My question is:

We know that Michael had the Trust for his children and mother,is the 30 million that the executors want to put in the trust what remained after paying the debts?

1041 days ago
147.

Ness    

I wonder how much the leeches and grubbers Branca and the rest of them have earned so far??? I still believe the Michael's will is not valid AND IS FRAUD!! These lawyers were fired by Michael before his tragic and unnecessary death.

1040 days ago
148.

Pegasus    

Cherwood:


As always, you bring so much insight into things to all of us here. Thank you for that!

1040 days ago
149.

Pegasus    

Cherwood:

I have to say, if it was not for you, MiMi, HN, SaraJane, and others - putting out all the information that you guys do - a great many of us would be left in the dark about alot of things. My many Thanks to Each and Every One of You!

1040 days ago
150.

canreadbutnotwrite    

Yes Pegasus, that's an great idea, I also will say 'THANK YOU' to you all too
L.O.V.E.

1040 days ago
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