All posts containing the tag: "Inheritance"
Posted Oct 13th 2009 1:05AM by TMZ Staff
Everyone expected the Jacksons to wage internal war over who gets what part of Michael's estate ... but Randy Jackson claims they already have enough money.
Randy was reacting to our story yesterday -- revealing that Katherine Jackson's 40% cut of Michael's estate will go directly to MJ's three kids when she dies. That means the kiddies will end up with 80% of the estate -- the remaining 20% goes to charity. So Michael's bros and sisters will inherit nada.
Here's Randy's take:
"The family is fine with it. Who cares about the money? We have enough money. If I cared about the money, I'd be doing a reality show and doing interviews."
Filed under: Michael Jackson, Exclusives
Tags: estate, inheritance, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, money, randy jackson, RandyJackson
Posted Oct 12th 2009 10:50AM 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.
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.
Filed under: Michael Jackson, Exclusives
Tags: estate, inheritance, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, paris jackson, ParisJackson, prince michael, PrinceMichael, trust
Posted Jul 30th 2007 5:23PM by TMZ Staff
Hotel heiress Paris Hilton doesn't need to worry about family patriarch and precious grandad Barron Hilton cutting her out of his will.
A story published in the UK said the ex-con party princess was in jeopardy of losing her mega-inheritance because sullying the family reputation, saying that grandpa was cutting her out of the will. TMZ has confirmed that's baloney.
After the socialite was sprung from the klink, she spent a few days at grandpa Hilton's family compound in Beverly Hills. It's rumored that Paris stands to inherit somewhere in the neighborhood of $30 million.
Filed under: Gossip/Rumors, Paris Hilton
Tags: Barron Hilton, BarronHilton, Beverly Hills, BeverlyHills, estate, Fortune, Heiress, Inheritance, Money, Paris Hilton, ParisHilton, will
