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Katherine Jackson Responds To Grandson Bigi Jackson's Objection On Her Legal Fees Amid Ongoing Legal Battle Over Michael Jackson's Estate; DEETS
Katherine Jackson voiced her arguments on the ongoing court battle with her grandson Bigi Jackson over funding for her legal fees.
Amid an ongoing legal tussle over the estate of the legendary Michael Jackson, his mother, Katherine Jackson, has stepped into the spotlight to address a contentious issue: the allocation of funds for her legal fees. This dispute has unfolded between Katherine and her grandson, Bigi Jackson, formerly known as Blanket, adding another layer of complexity to the already intricate legal battle surrounding the King of Pop's estate.
Katherine Jackson responds to Bigi Jackson’s claims
In a recent court filing obtained by PEOPLE, Katherine Jackson makes a bold assertion, contending that the executors of Michael Jackson's estate are being overly cautious in their management of the estate's assets. Katherine's legal team emphasizes that the estate's liquidity far exceeds any potential liabilities, leaving ample funds available to fulfill her request.
The filing read as follows, “it seems clear to [Katherine] that the Executors are holding all of the assets in the Estate in order to keep control over them, and to avoid the more liberal distribution requirements of the Trust…This vastly exceeds its potential liabilities, and leaves hundreds of millions of dollars available for the remainder beneficiaries.”
Katherine Jackson argued that the estate, valued at a staggering $1.5 billion, possesses more than adequate resources to cover the legal expenses she has incurred. “The Executors cannot in good faith contend that the Estate does not have sufficient available funds to allow the Trust to make the requested payment," per the filing, considering it is currently valued at $1.5 billion,” she contended.
Moreover, Katherine challenges the executors' stance on charitable donations, arguing that such disbursements need not precede allocations to other beneficiaries. As a life beneficiary of a sub-trust within Michael Jackson's will, Katherine asserts her right to receive necessary financial support for her legal endeavors, particularly in light of her ongoing appeal against the estate's executors regarding the sale of the late singer's catalog to Sony on an estimated amount of $600 million.
“The executors' principal argument is that their hands are tied, that the money is stuck in the estate, and it can't be distributed to the trust yet and all these things that might happen. But we also live in reality, and we just received their accounting for 2020 — one year — and they have $35 million in distribution from the estate, including $2.3 million for public relations consultants. Millions and millions of dollars they are paying out,” Katherine’s attorney Adam Pines asserted during the court hearing.
Pines further questioned the claims of lack of resources within the estate, arguing, “But when they say, 'Oh, we can't pay this, our hands are tied, and the procedural requirements have not been met,' I don't think it's fair. This year, $5 million was paid for Katherine's taxes. I appreciate that they did that, but it's certainly a confirmation that they can pay this amount."
ALSO READ: Michael Jackson's Son Blanket Sues Grandmother Katherine Over Estate Issue; Lawsuit DETAILS Explored
What were the arguments of Bigi Jackson?
Contrary to his grandmother's position, Bigi Jackson has lodged objections to the estate's funding of Katherine's legal fees. In a court filing, Bigi expresses skepticism regarding the potential benefits of financing Katherine's appeal, particularly given the perceived slim chances of success.
While he acknowledges the validity of covering reasonable attorney fees for her initial objection to the catalog sale, Bigi questions the necessity of the substantial fees accrued during the trial. Bigi questioned if, “four lawyers charging fees of $840 to $1,400 per hour was necessary." "Given those odds, Bigi decided not to waste his resources to participate in an appeal. Nonetheless, Katherine has decided to appeal this court's ruling. That decision is not for the benefit of the heirs,” Bigi Jackson’s attorney stated in a court document filed on March 18.
As the legal saga surrounding Michael Jackson's estate continues to unfold, all eyes are on the upcoming court proceedings scheduled on or before May 30, 2024. Until then, the ongoing feud between grandmother and grandson over the King of Pop’s leftover property continues to gain massive traction from the media and public alike.
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