The daughter of the late Michael Jackson, Paris Jackson, officially filed a lawsuit in the Los Angeles Superior Court on October 29 to demand the distribution of the remainder of her father's estate, valued at US$600 million. The legal action was taken because Paris accused executor John Branca of deliberately preventing her and her siblings from receiving their inheritance rights for 17 years following the musician's death.
According to the will of Michael Jackson, who died on June 25, 2008, at the age of 50, his children are entitled to receive income starting at age 21, followed by one-third of the trust funds at age 30, half of the remaining portion at age 35, and full settlement at age 40. In documents obtained by Page Six on Monday (2/11), Paris accused Branca of unilaterally controlling the distribution of funds and cutting allowances after she lodged a protest last year.
The estate administrators denied the allegations of withholding rights, claiming to have distributed more than US$200 million to the beneficiaries. A spokesperson for the estate argued that full disbursement to charitable foundations and trusts could not yet be executed due to an ongoing dispute involving US$700 million in tax payments and penalties with the US tax authority (IRS), the resolution of which is still underway.
Nevertheless, Paris maintained that the estate administrators still hold approximately US$600 million in liquid funds after accounting for remaining assets from the sale of EMI Music Publishing shares worth US$287.5 million in 2018, the Neverland Ranch for US$22 million in 2020, and intellectual property rights to Sony worth US$750 million in 2023. The inheritance dispute is scheduled to head to trial this coming December.
Source: cnnindonesia.com
