Are you a legal professional? Visit our professional site

Michael Jackson Estate: Legal Team Seeks Executor Fees

Article Placeholder Image
By Kamika Dunlap on December 16, 2009 12:13 PM

It's a been a tough job managing Michael Jackson's millions.

Now, the legal team and other administrators handling the King of Pop's affairs after death are seeking estate executor fees.

The legal team and administrators say they want to be paid for their work overseeing the Michael Jackson estate.

The Associated Press reports that administrators and attorneys are seeking millions according to court documents. They have not been paid since Jackson's death on June 25, the filings state.

It is estimated that since then, the Michael Jackson estate has earned $100 million or more with the sale of rights to the concert film "This Is It," new music releases and merchandising agreements.

Some experts believe that the Michael Jackson estate earnings could eclipse those of another famous, and profitable, music icon -- Elvis Presley.

But cutting a check may not be all that simple.

Apparently, Jackson's estate also faces significant debt and there are estimates of at least 10 lawsuits that are still pending.

As previously discussed, Jackson's father, Joe Jackson is seeking up to $20,000 monthly from his son's estate. Although the Michael Jackson will did not name Joe Jackson and he does not stand to inherit any of his son's assets, Joe Jackon's attorney is pursuing a legal challenge.

The administrators of Jackson's estate, attorney John Branca and music executive John McClain, are seeking five percent of money the estate has earned so far.

According to the filings, he is not asking for a personal fee for administration of the estate but that a percent be paid to his firm.

Estate excutor fees also need to be paid to a variety of other firms, including one representing the interests of Jackson's children.

Los Angeles Superior Court Judge Mitchell Beckloff has scheduled a hearing for Jan. 4 to decide how much can be paid out the estate's administrators and attorneys.