Tuesday 28 August 2012

There is no question that the king of pop Michael Jackson was having financial problems during the latter years of his life. Some people have reported that the city of Los Angeles was ready to shut off the utilities on one of his homes due to unpaid bills. The fact that a three hundred million dollar loan is due this year does have some people worried. Jackson's estate does have to pay off that loan or the home where his mother and children live could be foreclosed upon. There are a number of people who worked with Jackson during his career that are managing his estate. 

These very same people are admittedly somewhat happy from a financial perspective that Mr. Jackson is no longer around in order to spend his estate into an oblivion. The truth is that the money coming into the estate is over two hundred million dollars since Michael Jackson's death. There are a number of people who would be glad to help the Jackson estate be able to pay those debts so that the Los Angeles home is not foreclosed upon. People do want Michael Jackson's mother and children to be secure in their home. 

There will be other people who will likely be making claims against the estate in the future however. Some of the people who may make a claim against the Jackson estate would be former workers at the Neverland Ranch and former attorneys for Jackson in different civil and criminal lawsuits who have not been paid. The Jackson estate is likely to only keep growing in recent months as movies and things like DVD sales associated with the King of Pop are going to continue to be sold at record numbers. 

Many people expect Michael Jackson's estate to consistently outsell the estate of other great former rock stars like Elvis Presley and Kurt Cobain. There are rumors that Michael Jackson's own father Joseph may make a claim against his son's estate. 

Joseph Jackson feels it necessary to do this because he feels that he is due a certain amount of back royalties revolving around some of Michael's albums. Joseph Jackson of course has said that he doesn't want any claim he makes against the estate to impact the ability of his grandchildren and wife to be able to stay in that Los Angeles house. The possible foreclosure of the home is the first thing to deal with.


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