MJ Estate Shakeup
Executors of the late Michael Jackson’s estate won’t be out-of-pocket for some expenses related to running the massive entertainment business thanks to a judge’s ruling Dec. 19.
Attorney John Branca has been paying for legal advice from Branca’s firm and music exec John McClain paying for the use of a recording studio founded by Marvin Gaye.
Those expenses are – wait for it – cutting into the two’s 10 percent share of Jackson’s posthumous earnings, which is said to be more than $310 million since the singer’s death.
Superior Court Judge Mitchell Beckloff approved their request for those costs to be considered estate-related expenses.
Attorneys for Katherine Jackson and her grandchildren reportedly had no objection to tweaking the executors’ compensation.