All posts containing the tag: "allowance"
Posted Nov 6th 2009 4:10PM by TMZ Staff
Joe Jackson claims there was "no justification" for him to be excluded from getting money from Michael Jackson's estate ... and now he's asking a judge to grant him a monthly allowance.
Joe just filed papers in L.A. County Superior Court, claiming he's "entitled to his own independent family allowance."
In the docs, Leonard Rowe -- a guy who claims to have been MJ's manager -- says Michael used to give his mother Katherine up to $60,000 a month to live on, and that Michael instructed her to give half of it to Joe.
Joe claims Michael's estate has "earned more than $100 million dollars in the first seven (7) weeks following Michael Jackson's death" and is "well able to afford a family allowance for Joe Jackson."
Joe says he has $15,425 in total monthly expenses, including the following:
-- $2,500 eating out
-- $2,000 for air travel
-- $3,000 for hotel bills
-- $1,000 for groceries
-- $1,200 for rent
-- $50 in charitable contributions
UPDATE -- Howard Weitzman, one of the attorneys the Special Administrators for Michael Jackson's Estate, tells TMZ: "The Special Administrators have been made aware that Joe Jackson filed papers asking to be paid a family allowance from the Estate. It was quite surprising to learn of the request. Mr. Jackson's Petition will be considered as are all requests for money from Michael's Estate."
Filed under: Michael Jackson, Exclusives
Tags: allowance, estate, joe jackson, JoeJackson, michael jackson, MichaelJackson, money
Posted Oct 22nd 2009 6:32PM by TMZ Staff
Katherine Jackson's need for more power is not about her ability to control the estate -- she needs money for the electric bill.
Lawyers in the probate case just told the judge Katherine's allowance needs to be increased to pay the utility bills.
And, the lawyers say, Katherine made more money this year -- therefore, she needs to pay more taxes and needs more in the way of an allowance.
Katherine is currently pulling in $26,804 a month.
Story developing ...
Filed under: Celebrity Justice, Michael Jackson
Tags: allowance, esate, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, money, utility
Posted Sep 22nd 2009 1:05AM by TMZ Staff
In Hollywood, it pays to be Dakota Fanning's little sister -- 'cause the other Fanning child is officially pulling in a 6-figure salary.
We've just obtained a copy of Elle Fanning's minor contract for the upcoming flick "Somewhere" -- filed in L.A. County Superior Court -- which shows the 11-year-old is set to take in $125,000 for her role in the flick.
According to the docs, Elle and her mother were also put up in a five-star hotel during filming and given a $75 per diem -- which was treatment "no less favorable than that provided to any other cast member" ... well, with one exception.
The contract shows her co-star Stephen Dorff was granted one special and very specific request: A free room at the Chateau Marmont for the duration of the shoot.
Filed under: Movies, Celebrity Pay Dirt, Exclusives
Tags: allowance, chateau marmont, ChateauMarmont, elle fanning, ElleFanning, minor contract, MinorContract, movie, somewhere, stephen dorff, StephenDorff
Posted Sep 17th 2009 3:10PM by TMZ Staff
Up to now we didn't know how much Katherine Jackson was getting by way of allowance while Michael Jackson's estate gets probated. In legal docs just unveiled today, we now know the special administrators asked to pay her $26,804 per month.
As for the kids, the family allowance for them is $60,000 per month.
The docs also say "...the Estate assets consist of real and personal property exceeding $500 million and that the Estate is solvent."
Katherine and Michael's 3 kids will continue to get an allowance -- which is subject to change -- until the estate is probated. That could take between 1 and 2 years from now.
UPDATE: The docs also list Katherine and the kids' expenses separately.
Now, the kids' specific expenses are redacted -- but it doesn't matter, because the totals are still listed ... and they're HUGE:
-- Salaries and payroll benefits: $315,580 per year
-- Basic needs: $141,300 per year
-- Entertainment and other: $159,120 per year
TOTAL: $720,000 per year
Katherine's expenses per month:
-- Assistant: $4,722
-- Insurance for Asst: $475
-- Housekeeper: $2,080
-- Driver: $2,000
-- Payroll and Taxes on gross salaries: $1,760
-- Utilities: $3,260
-- Clothing: $3,500
-- Personal grooming: $1,000
-- Entertainment: $1,500
-- Car Expenses: $1,750
TOTAL (plus a few expenses we didn't list): $26,804 per month
Filed under: Michael Jackson, Exclusives
Tags: allowance, estate, katherine jackson, KatherineJackson, kids, michael jackson, MichaelJackson, money
Posted Sep 14th 2009 6:55AM by TMZ Staff
Michael Jackson's publishing catalog will not be sold to pump up the assets in the estate, according to sources familiar with the probate.
We're told several family members are questioning why the estate appears, as one put it, "in the red." Sources knowledgeable with the estate acknowledge a "huge amount of debt" as creditors claims continue to come in.
But, we're told, in the end, if all the assets were sold the estate would definitely be flush with cash. HOWEVER, sources say the publishing catalog -- notably the Beatles' songs -- will not go on the auction block. Sources say it's an asset that is worth way more to Jackson's kids in the long run than the cash it would generate now.
The honchos in the estate, we're told, are confident it will be fueled by an influx of cash over the next year or two -- the amount of time it will take to wrap probate up.
Until probate ends, family members will have to make due with their allowances.
Filed under: Music, Michael Jackson, Exclusives
Tags: allowance, beatles, beatles songs, BeatlesSongs, kids, michael jackson, MichaelJackson, probate, publishing rights, PublishingRights, songs
Posted Jul 24th 2009 5:50PM by TMZ Staff
We've now obtained documents filed yesterday in the Michael Jackson probate case.
The Special Administrators have recovered $5.5 million in cash from a former financial advisor. The documents do not name the advisor.
In the documents, the administrators predict Jackson has enough cash to pay off his estimated $400 million in debts -- and still have money left over for his heirs.
The docs also say Jackson's children are the beneficiaries of an insurance trust established by Michael Jackson. The proceeds have not yet been collected, which explains why lawyers for Katherine Jackson have asked for a temporary allowance.
The Special Administrators expect to generate tens of millions of dollars of revenue from various business deals that are now in the works.
Story developing ...
Filed under: Michael Jackson
Tags: allowance, children, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, money, probate, special administrator, SpecialAdministrator
Posted Jul 23rd 2009 1:30PM by TMZ Staff
Lawyers for Michael Jackson's estate, along with Katherine Jackson's lawyer, went to court this morning, seeking temporary financial allowances -- and Katherine claims she needs the money to live.
The matter was put off until August 3, when lawyers will all appear in court.
UPDATE: 2:29 PM PT: Lawyers for the estate wrote in a written declaration, "We are informed that Mrs. Jackson was also financially dependent upon Michael Jackson and that other than extremely modest social security benefits, Mrs. Jackson has no independent means of support."
The declaration continues: "Michael Jackson died 4 weeks ago. Therefore, there is an urgent need for the Special Administrators to be authorized to pay family allowance for the benefits of Minor Children in order to ensure that the Minor Children's needs for maintenance and support are met."
The document also says other than social security benefits which the kids have not yet received, they are totally dependent on the estate for their care and support.
Filed under: Michael Jackson
Tags: allowance, hearing, katherine jackson, KatherineJackson, michael jackson, MichaelJackson, money, probate
