Michael declared that Debbie Rowe was not his wife and he had three children and his mother is the guardian of his three children. He intentional omitted to provide for Debbie Rowe and basically he created a trust called the Michael Jackson Family Trust.
It is said that his Mother Katherine Jackson is the beneficiary of the trust and his children are included in the will. What does this mean to me?
What I believe Michael created was what is called a testamentary trust, which is trust created by a will and takes effect when the settlor (testator) dies. Therefore the trust was established in 2002 but now that Michael has deceased it takes effect. Therefore his mother has the right to immediately take control of the estate, but where is the death certificate to probate the will?
Now Mother Katherine is the beneficiary basically meaning she will receive control over the trust. My understanding of what is being said is basically Michael invested his assets in order to gain greater value and basically assigned his mother as the agent to control the distribution probably of the income and value of said assets to his family as defined in the trust.
He setup something that his siblings cannot destroy by living extravagant or wasteful lifestyles. The bottom line is he provided for his family in a way that they may never hurt for anything but cannot do everything that crosses their minds and destroys the estate he built. I believe the Michael Jackson Family Trust; will continue to grow for many years to come. Michael Jackson will last as long as there is an United States of America. Encore!
apakistannews.com
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