A week after Michael Jackson died, his longtime lawyer and friend, John Branca, was summoned to meet with the singers family. He carried the pop stars will, and with it, an answer to their eagerly awaited question:
Who was to benefit from the King of Pops estate?
It was very difficult, Branca recalled. There were a lot of family members there, his sisters and most of the brothers and his mother, Katherine.
He told them three things. Katherine would be guardian of Michaels three children and receive 40 percent of the estate in trust. The children would also receive 40 percent. The remaining 20 percent would go to unspecified charities to benefit children.
Their reaction would seem to bode well for the days to come.
Actually, they applauded three times when they were told who got the property, Branca said. They were thrilled.
It is one reason why Branca, one of two special administrators named in that same will, says hes surprised by the opposition that followed from lawyers representing Mrs. Jackson.
Her legal team has asserted that she should be given a seat at the table in executing deals for the estate. Theyve also been considering a formal challenge to the status of the special administrators, suggesting that conflict of interests and other factors may compromise the qualifications of Branca and co-executor John McClain.
Neither man is unknown to the Jackson family. During more than 20 years as the pop superstars lawyer, Branca, 58, was a principal architect of Jacksons financial empire, having brokered the deal for the Beatles catalog of records; obtained the rights to master recordings of Jacksons own songs; and negotiated the purchase of Jacksons Neverland estate.
McClain, a childhood friend of Jacksons, crafted a major recording career for Michaels sister Janet, and is a successful record company executive.
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