On Jul 3, 7:48=A0am, Kathy wrote:
> S. Fu wrote:
>
> > Why say, look who crawled out from under a rock:
>
> >http://www.msnbc.msn.com/id/31711537/ns/entertainment-music/
>
> > Thing is, I sorta wonder whether she might really be doing this for the
> > sake of the kids. =A0The Jackson's have totally trashed her, then they
> > tried to bust the will that would have kept their fingers off the kids'
> > share. =A0Plus she's getting so ripped in the press for abandoning the =
two
> > kids she had with him that she might actually be trying to step in out
> > of shame or guilt.
>
> > I mean, could be true, right?
>
> > Yeah, right. =A0Now, what about the will? =A0That it specifically exclu=
des
> > Rowe is just legal boilerplate. =A0Otherwise it's a pretty standard
> > probate-simplification will that passes all assets to a family trust. =
=A0
> > How the trust shares out the remaining assets may never be revealed,
> > despite what the trustees or family says are the terms of the trust
> > disbursement. =A0Three major facts about the trust can be gleaned:
>
> > --The primary beneficiaries of the trust are the three kids and MJ's mo=
m.
>
> > --The trustees managing the trust are the same three guys named as
> > executors.
>
> > --A jumble of Jacksons who I gather are nieces or nephews are cited as
> > potential secondary beneficiaries. =A0Dad Jax and all the sibs aren't e=
ven
> > named as secondary beneficiaries.
>
> > So all net assets of the estate go to the trust, after which they're
> > pretty much untouchable except for the primary beneficiaries (that's wh=
y
> > you set up a trust, natch). =A0I think we can assume that the secondary
> > beneficiaries were to get Mom Jax's share if she had died before the
> > will was executed. =A0The rest of the family gets nit. =A0It may well b=
e
> > that the trust is structured so that if Mom Jax dies before the estate
> > is fully settled--which could take years--her share of the trust goes t=
o
> > the three kids. =A0Or charity or whatever.
>
> > In the meantime, the whole process of settling out the estate and
> > managing the disbursement of remaining assets via the trust is under th=
e
> > control of those three executors/trustees. =A0No one from the family is
> > getting a dime right away except for Mom Jax for the care of the kids,
> > as provided by the executors. =A0They can hold tight and hope that Gran=
dma
> > eventually does get that slice o' the pie and that some of it trickles
> > down. =A0Or they can go scampering down the courthouse to get the estat=
e
> > declared intestate. =A0Or hope for a "later will" to miraculously appea=
r
> > that would superceed the current one.
>
> > No wonder they want to hold onto the kids. =A0But if they're as broke a=
s
> > they seem to be, Rowe may have more money to fund a custody fight than
> > they do. =A0However, since the will specifically names Mom Jax as
> > guardian, with Diana Ross as backup, I believe it's the duty of the
> > executors to defend those terms, including paying the legal fees to
> > support either in a custody fight. =A0I may be wrong about that.
>
> > How much immediate cash does any player in this mess have to ante? =A0M=
om
> > and Dad Jax are supposedly broke. =A0Of the rest of the family, which o=
f
> > the few with any real money will want to bankroll Mom in a custody figh=
t
> > against Rowe? =A0What immediate liquidity do the executors have to work
> > with, provided they decide to back Mom?
>
> I am thinking there will be a boatload of attorneys stepping up to offer
> to represent the Jacksons pro bono. =A0It would be great publicity.
>
> Kathy
The shameless attention hound attorno Geragos was on Larry King
kissing some major Jackson a$$ the other night. |
