Monday, 6 July 2009

Jackson's Will: Family Seeks Court Delay
Michael Jackson's relatives are seeking extra time to look into his affairs before two businessmen the star listed in his will take control of his estate.


Michael Jackson's signature on a will of his dating from 2002
Jackson's will dates from 2002 and his family are hoping a delay would give time for any newer version of the document to emerge.
A judge put Jackson's 79-year-old mother temporarily in charge of her son's assets on June 29 after lawyers for the family said they were not aware of the existence of a valid will.
However, two days later a will was presented by two respected business associates of Jackson - lawyer John Branca and music executive John McClain - naming them as the co-executors of the 50-year-old's estate.

Lawyers for Jackson's family said last week they were reviewing the document and they have not given any indication over whether they will contest it.
If it is not challenged, Mr Branca and Mr McClain will are expected to take control of Jackson's affairs at a hearing due to be held later today.
The hearing will be crucial in deciding who takes control of Jackson's financial empire, which is thought to be worth more than £300m but includes an estimated £250m in debt.
On Thursday a judge delayed a hearing on who should have custody of Jackson's three children, making Monday's hearing entirely about the singer's fortune.
Jackson's finances will be complicated by the need to cover a hefty ticket refund bill after the singer's sudden death forced the cancellation of 50 concerts.
However, shrewd management could see the late star make a vast posthumous profit through licensing of his name and recordings.

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