Legalities and Mystery Shrouds Michael Jackson’s estate
Posted by K.C. Morgan Categories: Music, Celebrity Babies, Legal Issues, Videos, Rumors,
At the height of his career in the late 80s, when he was doing commercials and worldwide tours for huge audiences, Michael Jackson was truly the King of Pop. It was reported that the singer was worth around $2 billion US - not a bad little bit of change.
In the wake of Jackson’s death, however, it’s much harder to pin down a figure. As of right now, the size of Jackson’s estate remains largely unknown. It was reported recently that the singer still had around $350,000, while other sources estimated Jackson at closer to $800 million. Some reports even suggest that Jackson was actually in debt - one news organization says the amount could reach up to $500 million.
Who will inherit the burden or largesse, such as the case may be? This, too, remains a mystery. Early reports and court documents filed by parents Katherine and Joe Jackson suggested that Michael died intestate (without a will), but a lawyer has stepped forward to refute these claims.
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