Estate battles of the stars
Exposition: From the Jackson Five to the King of Pop, Michael Jackson was a cultural phenomenon. His sudden death in the summer of 2009 triggered a global outpouring of emotion – and an ugly, high profile estate battle.
Flap: Jackson wisely set up a trust, the Michael Jackson Family Trust. Typically, trusts tend to keep sensitive or embarrassing matters out of probate court – and off the front pages. Unfortunately, that strategy only works if you actually transfer your assets into the trust – something Jackson apparently failed to do. Jackson's father reportedly wants $20,000 a month from the estate, even though he's not a beneficiary in his late son's will. Charges have been leveled, and counter-charges. Judge-appointed executors have been challenged. In short, a mess.
Outcome: TBD. But settling all the claims, counterclaims, suits and royalty demands could keep lawyers employed for years.