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mjwrTopic starter

Originally posted May 30th 2010 7:26 AM PDT by TMZ Staff

Michael Jackson apparently learned a lesson in finances -- his kids should not fall victim to consumer temptations that caused Michael himself to teeter on the brink of bankruptcy -- this, according to the details of the strings he attached to his children's inheritance.



News of the World got a copy of the Michael Jackson trust. TMZ broke the story ... under the trust the kids would get 40% of Michael's estate, Kartherine Jackson would get the use of 40% during her lifetime (when she dies the remainder of her share goes to the kids) and the final 20% goes to charity.

Here's what interesting ... that we didn't know until now.  Under the trust, Prince, Paris and Blanket  have no control of the money until they are 30 years old ... until they turn 30 they just get income -- almost like an allowance -- determined solely by the trustee.  When each of the kids turns 30, the trustees must then give them 1/3 of their share outright.  When the kids reach 35, they get 1/2 of their share outright.  

At age 40, the kids then get what remains of their share -- outright.

We've already published the will (You are not allowed to view links. Register or Login) -- different from the trust.  The will refers to the trust but the trust document has not been public until now. (You are not allowed to view links. Register or Login)

As for how much the kids will get, that amount grows every month, as executors John Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases.

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Peace
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Nobody can give you freedom. Nobody can give you equality or justice or anything.
If you\'re a man, you take it.

Perhaps he just didn't trust the elements that would situate themselves in the lives of the children...the generational Tohme's and Matollas and the like minded of others who will certainly come after them just like they did their father.  Age progression makes for more wisdom.  They will be more aware of motives by 35 and 40.  In hindsight, I think it's a very well thought out plan, once it is actually executed.  However they will probably be around about that age anyway by then.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

MJ HAS CONTROL OVER EVERYTHING OF COURSE THEY CAN GET MORE MONEY UNTIL THEY'RE 30, CUS DADDY IS STILL IN CHARGE AND ALSO THIS IS A GOOD THING IN THIS CASE BECAUSE IF THEY HAD ACCESS TO THE MONEY NOW WE'D HAVE A BUNCH OF PEEPS TRYING TO LIVE OFF THEM. MICHAEL IS SETTING THE AGE AT 30 BECAUSE HE THINKS LIKE IN 30 YRS HE'LL REALLY BE GONE, SO HE'S LIKE FOR NOW THE MONEY IS MINE AND I GIVE THE CHILDREN WHAT THEY NEED. THIS REALLY CONTRADICTS THAT MICHAEL IS SOMEONE THAT JUST SPLURGES MONEY LIKE NO TOMORROW IT'S A FALSE IMAGE HE KNOWS HOW TO HANDLE MONEY THE MAN IS A BUSINESSMAN. MICHAEL I JUST KNOW ALL THE STORIES AREN'T TRUE YOU GOT MONEY AND YOU ARE STILL IN CONTROL THAT'S WHY NO ONE IS TOUCHING IT.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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*Mo*

  • Guest
Quote
Originally posted May 30th 2010 7:26 AM PDT by TMZ Staff

3 + 0 + 2 + 1 + 7 + 2 + 6 = 21 -> 777
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Glinda

Quote from: "*Mo*"
Quote
Originally posted May 30th 2010 7:26 AM PDT by TMZ Staff

3 + 0 + 2 + 1 + 7 + 2 + 6 = 21 -> 777

And they are early too
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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777  :o  MICHAEL DID IT. GOOD MORNING MICHAEL FOR A PERSON THAT CAN'T SLEEP YOU ARE PRETTY EARLY SWEETIE ;) FOR A MOMENT SINCE I GOT VISION PROBLEMS I THOUGHT THE TITLE SAID MICHAEL JACKSON LACKS TRUST IN KIDS I WAS LIKE WHAT?!!! :lol:
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Lisa Marie had a very similar trust.. im sure she was 35 until she got her full inheritance.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Quote
Michael Jackson apparently learned a lesson in finances --
I know some tabloids talk like this but doesn't it sound a little weird.? Michael learned a lesson as in currently he learned a lesson about financing when it comes to leaving money for his kids.??? They always phrase their sentences as if MJ is alive....makes you wonder..?
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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[size=200]ii LOVE you Michael.!!! My life will nevaah be the same.! Cause boy you came and changed..the way I walk. The way ii talk<3[/color][/size]

yuu rockked maah world. yuu knoe yuu did. && everythin ii own I giive

I can\'t be still, yuu THRILL meeh. baybee be mine.!<3

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mjwrTopic starter

Quote from: "imissMJ147"
Quote
They always phrase their sentences as if MJ is alive....makes you wonder..?
That's why I made "learned" bold ;).
Quote from: "mjwr"
Originally posted May 30th 2010 7:26 AM PDT by TMZ Staff

Michael Jackson apparently learned a lesson in finances
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Nobody can give you freedom. Nobody can give you equality or justice or anything.
If you\'re a man, you take it.

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Grace

Why did they paint him so red in Photoshop?

Blood returning? Blushing? Angry? Alive?

TMZ creative as ever...  :lol:

Quote from: "mjwr"



Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Create your day. Create the most astounding year of your life. Be the change you want to see in the world! L.O.V.E.
***********************************************************************************************
"I am tired, I am really tired of manipulation." Michael Jackson, Harlem, New York, NY, July 6, 2002
***********************************************************************************************
******* Let's tear the walls in the brains of this world down.*******

Time to BE.

*Mo*

  • Guest

Harvey has had the Trust papers for months and months but never released them.  Harvey has mentioned the "no contest clause" dozens of times, yet that clause is not in the will but in the trust.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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ejay

:?  :?  this sentence "Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases." OKay..ummm WHOSE GONNA DO THE CONCERTS THEY SPEAK OF???? Oh thats right...MJ cuz he aint dead!  :lol:  :lol:
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Quote from: "imissMJ147"
Quote
Michael Jackson apparently learned a lesson in finances --
I know some tabloids talk like this but doesn't it sound a little weird.? Michael learned a lesson as in currently he learned a lesson about financing when it comes to leaving money for his kids.??? They always phrase their sentences as if MJ is alive....makes you wonder..?

It sounds like the tabloids are patronising him, to me..  

i mean.. are they having a laugh, or what??  All that money is money that MJ earned himself!  Michael is the one who pulled his family out of poverty with his talent and his business sense!
It was Michael who brought the Sony catalogue.. he made himself rich.  So to say he needed to learn a lesson in finance is just laughable.
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Quote from: "*Mo*"
Quote
Originally posted May 30th 2010 7:26 AM PDT by TMZ Staff

3 + 0 + 2 + 1 + 7 + 2 + 6 = 21 -> 777

where is 5-May? shouldn't be added too to be complete if you consider from numerology point of view?
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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EndlesslovetoMJ

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CC

Quote from: "ejay"
:?  :?  this sentence "Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases." OKay..ummm WHOSE GONNA DO THE CONCERTS THEY SPEAK OF???? Oh thats right...MJ cuz he aint dead!  :lol:  :lol:

  :mrgreen:
I NEED TO KNOW WHERE THE CONCERTS WILL BE AND WHEN???
 :lol:  :lol:  :lol:  :lol:  :lol:  :lol:  :lol:  :lol:  :lol:
Last Edit: December 31, 1969, 06:00:00 PM by Guest
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Some men see things as they are and say: WHY?
I dream things that never were and say: WHY NOT?

 

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