LOS ANGELES - Fallen pop idol Michael Jackson’s dramatic family saga continues, as a Los Angeles county judge considers who’ll get custody of Jacko’s children and who’ll control what’s left of his once-sprawling multimillion-dollar estate.
The King of Pop’s heirs - 12-year-old Prince Michael, 10-year-old Paris Michael and 7-year-old Prince Michael II, known as Blanket - learn whether Judge Mitchell Beckloff names their grandmother, Katherine Jackson, their guardian. Debbie Rowe, mother of two of the children, and Katherine Jackson reached a deal last week paving the way for Katherine Jackson.
No such deal has been reached on the Thriller’s finances.
Kathering Jackson and Jacko’s attorney, John Branca, and music executive John McClain, are all vying for control. The judge also will decide how to divy up Jackson’s estate, which has been described in court documents as having an estimated value of more than $500 million; its actual current worth is about $100 million, but could increase in value to $200 million or more with some financial restructuring.
The judge also has been asked to set an allowance for Katherine Jackson and her grandchildren.
Branca and McClain also are looking for monthly payments, noting that Jackson supported them when he was alive. They’ve already received $5.5 million from a former Jackson financial adviser, Tohme Tohme, and have also taken possession of many of the King of Pop’s property, and have said in court filings that they hope to finish several lucrative deals soon.
Beckloff could be presented with some of those deals. The judge has already approved one that will bring Jackson’s 1988 autobiography, “Moonwalk,” back to store shelves. The singer left behind several unfinished projects and a trove of unreleased music.
There are other thorny issues Beckloff will tangle with today.
- Whether Katherine Jackson can challenge Branca and McCalin from administiring the estate, without actually contesting her son’s will. Without the protection of Beckloff’s ruling, Jackson’s mom could lose her 40 percent share of Jackson’s estate.
- Katherine Jackson’s attorneys have expressed concerns about possible conflicts of interests that Branca and McClain may have, and have been seeking greater access to Jackson’s records in the form of subpoenas and depositions.
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