Michael Jackson apparently learned a lesson in finances -- his kids should not fall victim to consumer temptations that caused Michael himself to teeter on the brink of bankruptcy -- this, according to the details of the strings he attached to his children's inheritance.
News of the World got a copy of the Michael Jackson trust. TMZ broke the story ... under the trust the kids would get 40% of Michael's estate, Kartherine Jackson would get the use of 40% during her lifetime (when she dies the remainder of her share goes to the kids) and the final 20% goes to charity.
Here's what's interesting ... that we didn't know until now. Under the trust, Prince, Paris and Blanket have no control of the money until they are 30 years old ... until they turn 30 they just get income -- almost like an allowance -- determined solely by the trustee. When each of the kids turns 30, the trustees must then give them 1/3 of their share outright. When the kids reach 35, they get 1/2 of their share outright.
At age 40, the kids then get what remains of their share -- outright.
We've already published the will -- different from the trust. The will refers to the trust but the trust document has not been public until now.
As for how much the kids will get, that amount grows every month, as executors John Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases.
News of the World got a copy of the Michael Jackson trust. TMZ broke the story ... under the trust the kids would get 40% of Michael's estate, Kartherine Jackson would get the use of 40% during her lifetime (when she dies the remainder of her share goes to the kids) and the final 20% goes to charity.
Here's what's interesting ... that we didn't know until now. Under the trust, Prince, Paris and Blanket have no control of the money until they are 30 years old ... until they turn 30 they just get income -- almost like an allowance -- determined solely by the trustee. When each of the kids turns 30, the trustees must then give them 1/3 of their share outright. When the kids reach 35, they get 1/2 of their share outright.
At age 40, the kids then get what remains of their share -- outright.
We've already published the will -- different from the trust. The will refers to the trust but the trust document has not been public until now.
As for how much the kids will get, that amount grows every month, as executors John Branca and John McClain wheel and deal in business ventures that include concerts, movies and song releases.
Originally posted May 3rd 2010 8:25 PM PDT by TMZ Staff
God help anyone who uses a picture of Michael Jackson to hawk their products, because the licensee of MJ's image is going after some new companies with a vengeance.
Bravado International Group -- which markets all things Michael -- is suing T-Line Design, Inc. based in Oregon.
According to the federal suit, obtained by TMZ, T-Line is downright "defiant," sardonically writing a blog that says, "...it SUCKS TOTAL BOLLOCKS when people steal those creations..."
The suit seeks $750 for each image illegally used, as well as statutory damages of $150,000.
Bravado filed two other infringement suits today against two other companies for unauthorized MJ
Read more: link
God help anyone who uses a picture of Michael Jackson to hawk their products, because the licensee of MJ's image is going after some new companies with a vengeance.
Bravado International Group -- which markets all things Michael -- is suing T-Line Design, Inc. based in Oregon.
According to the federal suit, obtained by TMZ, T-Line is downright "defiant," sardonically writing a blog that says, "...it SUCKS TOTAL BOLLOCKS when people steal those creations..."
The suit seeks $750 for each image illegally used, as well as statutory damages of $150,000.
Bravado filed two other infringement suits today against two other companies for unauthorized MJ
Read more: link
And God bless you this day
You gave me the gift of
a little sister
And I'm proud of you today
Lisa its your birthday
Happy birthday Lisa
Lisa its your birthday
Happy birthday Lisa
[ Find more Lyrics on link ]
I wish you love and goodwill
I wish you PRAISE and joy
I wish you better than
your heart desires
And your first kiss from a boy
Lisa its your birthday
Happy birthday Lisa
Lisa its your birthday
Happy birthday Lisa
Yeah!
link
Michael Jackson and the number 7 (courtesy of TMZ):
-- Michael Jackson signed his will on 7/7/02.
-- Michael Jackson's memorial was on 7/7/09...exactly 7 years after the will was signed.
-- Michael Jackson's two biggest hits -- "Black & White" and "Billie Jean" -- were each #1 for 7 weeks.
-- Michael Jackson's three biggest albums -- "Thriller," "Bad" and "Dangerous" -- each produced 7 top 40 hits.
-- Michael Jackson was born in 1958 ... 19 + 58 = 77
-- Michael Jackson died on the 25th ... 2 + 5 = 7
-- Michael Jackson has 7 letters in his first and last name.
-- Michael Jackson signed his will on 7/7/02.
-- Michael Jackson's memorial was on 7/7/09...exactly 7 years after the will was signed.
-- Michael Jackson's two biggest hits -- "Black & White" and "Billie Jean" -- were each #1 for 7 weeks.
-- Michael Jackson's three biggest albums -- "Thriller," "Bad" and "Dangerous" -- each produced 7 top 40 hits.
-- Michael Jackson was born in 1958 ... 19 + 58 = 77
-- Michael Jackson died on the 25th ... 2 + 5 = 7
-- Michael Jackson has 7 letters in his first and last name.
Blazing 'Cross The Evening Sky
Gone Too Soon
Like A Rainbow
Fading In The Twinkling Of An Eye
Gone Too Soon
Shiny And Sparkly
And Splendidly Bright
Here One Day
Gone One Night
Like The Loss Of Sunlight
On A Cloudy Afternoon
Gone Too Soon
Like A Castle
Built Upon A Sandy Beach
Gone Too Soon
Like A Perfect Flower
That Is Just Beyond Your Reach
Gone Too Soon
Born To Amuse, To Inspire, To Delight
Here One Day
Gone One Night
Like A Sunset
Dying With The Rising Of The Moon
Gone Too Soon
Gone Too Soon
link
control, how low you go
Just enough to make your juices flow
Press play, don't stop, voltage, too hot
You feel I'm real
I'm everything you need, so
tell me what's the deal
[Chorus]
2000 Watts, 8 ohms, 200 volts, real strong
Too much of that, fuse blown
Be careful what you say don't overload
[ Find more Lyrics on link ]
2000 Watts, 8 ohms, 200 volts, real strong
Too much of that, fuse blown
Be careful what you say don't overload
3D, high speed, feedback, Dolby
Release two or three, when I reach I
can go ‘til I hit my peak
Compact steelo, chico, D-Lo, highpost lady
Shorty really wanna be there for me
[Chorus]
[Ad Libs]
[Chorus out]
link
You were there
Before we came
You took the hurt
You took the shame
They built the walls
To block your way
You beat them down
You won the day
It wasn't right
It wasn't fair
You taught them all
You made them care
Yes, you were there
And thanks to you
There's now a door
We all walk through
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there
Before we came
You took the hurt
You took the shame
They built the walls
To block your way
You beat them down
You won the day
It wasn't right
It wasn't fair
You taught them all
You made them care
Yes, you were there
And thanks to you
There's now a door
We all walk through
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there
And we are here
For all to see
To be the best
That we can be
Yes, I am here
'Cause you were there