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Jackson Estate Administrators Confirmed
TMZ reports Beckloff told a courtroom packed with lawyers representing various creditors and attorney Howard Weitzman, who will be in charge of dealing with their various claims, that he believes the 2002 will which surfaced last week “should be controlling.”
Earlier in the brief hearing, Katherine Jackson’s attorney, Burt Levitch, expressed concerns about Branca and McClain’s ability to properly oversee the estate and pointed out that Branca has been previously been fired by Michael Jackson.
In response, Branca’s lawyer said he had a letter dated June 17, 2009, eight days before Jackson’s death, in which the singer rehired his former lawyer and expressed a wish for him to be in control of his affairs.
Beckloff, who was apparently in no mood to deal with nonsense, threatened to appoint an independent special administrator to temporarily deal with the estate if the two sides could not come to an agreement. He also raised the possibility of appointing a lawyer to protect the interests of Jackson’s three children, Prince Michael, Paris Michael and Prince Michael II.
TMZ also reported details that emerged during the hearing about the Jackson Family Trust mentioned in the singer’s five page will, including the distribution of assets (40 percent to Jackson’s children, 40 percent to Katherine, and 20 percent to children’s charities) and a “no-contest” clause, which means if any of the beneficiaries raises a challenge to the will or trust they forfeit any inheritance.
After a 10-minute recess, the parties returned to the court, where went about hashing out further details, including who will oversee day-to-day operations of Jackson’s business interests and whether or not Katherine Jackson, whom Beckloff wants kept “in the loop,” will have approval power over financial decisions connected to the estate.