Michael Jackson’s huge legacy after his death in 2009 is mainly invested into the Michael Jackson Family Trust, which is managed by the executors John Branca and John McClain appointed by his will. 20% of the assets will be donated to children’s charities, and the remaining 50% will enter the Michael Jackson Children’s Trust to protect his three children’s benefits. The other 50% will support his mother Katherine Jackson through the Katherine Jackson Trust. However, some of Jackson’s relatives questioned the authenticity of the will, trying to control the estate committee, but the court eventually upheld the legality of the will. In addition, The Estate of Michael J. Jackson is the statutory organization representing Jackson’s interests after his death, currently led by John Branca and John McClain, responsible for managing Michael Jackson’s business interests and intellectual property.
Michael Jackson’s legacy is mainly included in the family trust he set up before his death
According to Jackson’s last will signed in 2002, all of his assets will be included in the Michael Jackson Family Trust that he set up earlier in 2002 when he was reorganizing his career. 20% of the family trust assets will be donated to children’s charities after his death. The remaining 50% will establish the Michael Jackson Children’s Trust to protect the benefits of his three children. The other 50% will support his mother Katherine Jackson through the Katherine Jackson Trust. If all his children and mother pass away earlier, the remaining assets will be used to establish the Michael Jackson Relatives Trust to benefit his nephews and nieces.
The authenticity of Jackson’s will was questioned but upheld by court
Some of Jackson’s relatives who did not benefit from his huge legacy questioned the authenticity of Jackson’s will, believing it was forged. However, the Los Angeles Superior Court and the California Supreme Court, after lawsuits, upheld the authenticity of the will and ruled out the possibility that the will was forged. Jackson updated the family trust when he was reorganizing his career in 2002 after his album Invincible, and he appeared frequently in public at the time, showing strong mental state to decide the trust rationally.
The Estate of Michael J. Jackson manages Jackson’s business interests after his death
The Estate of Michael J. Jackson is the organization authorized by Michael Jackson’s will to represent all his rights and assets after his death. It is currently managed by the two executors John Branca and John McClain. As an estate, it owns many Michael Jackson related trademarks and intellectual properties, handles lawsuits related to Michael Jackson, and manages commercial activities related to Michael Jackson’s names and images.
In conclusion, Michael Jackson’s huge legacy after death is mainly invested into the family trust and children’s trust he set up before death to protect his children and mother’s benefits. His estate represents his business interests and manages commercial activities related to his names and images after death.