Jackson estate administrators want share of profits
The two men who control Michael Jackson’s estate — attorney John Branca and music executive John McClain — are asking a court to grant them 10 percent of the profits they generate from the pop star’s work, the AP reports. The fee will cover their administrative services and will exclude income from Jackson’s This Is It documentary and his interest in the Sony/ATV music catalog. His estate has been valued at $500 million, but he also had significant debts that must be repaid. Branca and McClain’s request noted that advisers to other high-profile estates have received up to 20 percent of profits.
Also, papers filed by the estate’s lawyers want to stop Jackson’s estate from paying a monthly allowance to the late singer’s father Joe Jackson.