I heard earlier on the news that The Gloved One died without leaving a will…or at least they can’t seem to find one…and so the issue of custody of his children is complicated.
How is this even possible? With all the lawyers and legal advice the man had at his disposal, and with the custody agreements with his ex-wife and the surrogacy situation, how is it none of his lawyers had him draw up a will? All the contracts he entered into, and partnerships, and businesses…and no one required a will? Or if not a will, at least a document giving his wishes about custody.
My brother’s neighbor was an estate lawyer. He died of a heart attack in his early 50s- intestate. I suppose he and MJ thought they were too young to die.
Howard Hughes apparently died without a valid will and that makes even less sense. Hughes was far wealthier than Jackson and died at 70 after prolonged poor health.
As a life insurance agent, I can safely say that being a wealthy, intelligent individual surrounded by brilliant legal minds and a huge estate which cries out to be managed does not insulate oneself from the crushing possibility that, when it comes to managing said estate, one is a complete dumbfuck.
Trust me - it happens more often than you’d believe.
This was a guy who was notorious for backing out of contracts, spending far beyond his means, and was in enormous debt. From what I’m hearing, he didn’t even have his own personal bank account – the children’s nanny usually got money out of the account, and gave it to him in cash.
He had no acknowledged children or pretty close relatives, maybe he just didn’t care all that much what became of his money after he died.
Jackson, on the other hand, is a father of 3, and it would be practically criminally irresponsible if he didn’t make sure they were cared for in the event of his death.
I just read an article form the AP which stated that Michael Jackson had set up a trust to cover his children, and it’s not touchable by creditors.
So if you set things up right, you don’t need a will. Wills as you know are easily contested, especially when, as it appears everyone, except Janet and the Debbie Rowe, (the mother of Jackson’s first two kids) are out for every dime they can get.
It’s easier to set thing in a trust, or simply in other people’s name. Remember Jackson was in debt. It’s likely he just hid all his assets in shill companies or just put them in other people’s names. This would mean any money he got would be untouchable. A will could declare it exists and means creditors come a-running
I also read that Jackson’s image rights in the next decade will be worth 1 - 5 BILLION dollars. Funny how the child molesting thing is now long past. We’ll see if it hold up over time.
Too bad Lisa Marie didn’t stay married to Michael, Pricilla could’ve turned Neverland into another Graceland
Eh. You really think someone with that kind of money never got himself involved in the (very much adult) decisions of managing it? His army of accountants and lawyers and property managers and other various staff could have fleeced him right good if he truly only thinked and acted like a child.
He lost the property some time ago to some holding company (it was talked about in one of the other threads on him), and the first thing they did was sell all the rides.
Speaking of whom, what would happen if Debbie Rowe insisted on a DNA test and it turns out that Michael isn’t even the father? Would she have that much more claim to the children?
I believe she’s said that he wasn’t, just the other day. No surprise there.
I doubt it. She signed away all her custody rights and he raised the children. If he wasn’t the biological father, I assume everybody involved in that negotiation was aware of that fact. Is she seeking custody anyway?
She signed away custodial rights but not parental rights. Apparently, according to California law a parent can reclaim a child regardless of any payoff that has been made. If it turns out to be a fact that Jackson had no literal claim to the children (he never adopted them and if he isn’t the biological father), then I don’t see how they can keep her from reclaiming the children.
There another one from 2006 as well (ETA: possibly never executed). I have no idea why people think he died intestate. The problem probably isn’t that “there’s no will”, chances are, if there is a problem at all it’s because it’s hard to figure out which will is the latest and most up-to-date version. There may be several versions of wills that he has drawn up over the years residing with lawyers he hired then fired. The problem isn’t finding a will, it’s finding THE will.
When my dad died, all we had to do was go to the safety deposit box to get his will. We also had one copy at my parents’ home in the “very important papers box”.
Jackson’s “very important papers” are not likely to be in one place like that. He had multiple residences, Jeebus knows how many different lawyers over the years, and a vastly more complicated estate. It just takes time to sort through the paperwork.