Latest TMZ articles on Michael jackson—May 27 to 30, 2010
TMZ just kill me sometimes, LOL And people keep on reading them and believing every word…lol
Originally posted 16 minutes ago 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.
As for how much the kids will get, that amount grows every month, as executorsJohn Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases.
Originally posted May 30th 2010 1:00 AM PDT by TMZ Staff
The cemetery where Michael Jackson is entombed is launching a new crackdown on fans — actively removing people hanging out in front of MJ’s mausoleum.
According to sources at Forest Lawn Cemetery in Glendale, security has been informed that MJ fans are no longer permitted to gather on the patio of MJ’s mausoleum. Those who loiter will be asked to leave.
It’s unclear why Forest Lawn is making the move — especially because fans have been visiting the burial site regularly since MJ moved in last year.
And now — with the one-year anniversary of Michael’s death fast approaching — the Justice4MJ fan group is concerned about their plans to gather at the mausoleum on June 25.
A rep for the group tells us they hope Forest Lawn will “take into consideration” the hundreds of fans traveling from all over the world to pay their respects.