Michael Jackson Estate Administrators to Receive Ten Percent
Los Angeles Superior Court Judge Mitchell Beckloff has agreed that the administrators of late pop star Michael Jackson will receive ten percent of his estate, with the exception of several sizeable assets. The administrators are attorney John Branca music industry executive John McClain. The pair has been administering the estate since June 25th, 2009.
The judge's ruling means that each man will receive five percent of any profits from the estate, not including profits from the "This Is It" movie, released shortly after Jackson's death, nor Jackson's interest in the Sony-ATV music catalog.
To reach his decision, Judge Beckloff discussed the arrangements with attorneys representing both administrators, and the attorneys of Jackson's children and mother, Katherine Jackson. None of the family members raised any objections to the compensation.
Branca and McClain's attorney said that he believes the men will be fairly compensated for their services. Jackson's estate is estimated to be worth $500 million. Attorneys for the family agreed, saying that the percentage compensation will serve as an incentive for the men to work hard to grow the business. Find out more details about the administration of Jackson's estate at Compensation approved for Jackson estate admins.
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