There are still a few issues happening with the Michael Jackson estate in recent weeks.
On February 21, a wrongful death suite filed by Joe Jackson against the concert promoter AEG Live, was dismissed in the California Superior Court. The reason for this is due to a wrongful death lawsuit that had already been filed by Michael's mother, Katherine. According to the judge, allowing both cases to proceed would open the door to allowing all the heirs of the decedent to file the same lawsuit. Under the law, consolidating the same issues into just one lawsuit, or a joinder of claims, is preferable.
The family has also decided to withdraw their permission requesting to sell the family mansion. Instead, permission was given to the executors to transfer $30 million into the Michael Jackson Family Trust. This is a revocable living trust that Michael Jackson created in 1995, but changed the terms in 2002, to which they became irrevocable upon his death. No doubt this large transfer will continue to help with the management of that property.
For more information on revocable and irrevocable living trusts, consult with a professional Living Trust Attorney.
*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.