We are excited to share that Dossey & Jones now joins the international law firm Withersworldwide!
Our new relationship with Withers offers us the opportunity to better serve our clients and to bring a whole new range of US and international services into play for our clients. We look forward to continuing our work together and to introducing you to our Withers colleagues! Our current address will remain the same, and our phone numbers and email addresses will temporarily remain the same as we work on completing our integration over to Withers.
>> Learn More Here <<

Who Received Property Under Michael Jackson's Will?

By: Jim Dossey, MS, MBA, JD

Michael Jackson’s Will gave all of his property to the Michael Jackson Family Trust. In Estate Planning lingo, this is called a “pour over” Will. The basic idea is that a trust, called a Revocable Trust, is set up during the life of the decedent and assets are transferred into it while the person is alive. When a Revocable Trust is used, it determines how the assets are distributed at death rather than the Will. If any property was not transferred to the Trust during the life of the decedent, the pour over Will transfers the remaining property at death to the Trust. Pour over Wills and are very common in states such as California where the probate process is very difficult, time consuming, and expensive.

Court filings indicate that the beneficiaries of the trust are limited to Jackson’s children (40%), his mother Katherine (20%), and charity (20%). No provision was made for his ex-wife, father or any of his eight siblings. In 2012, members of Jackson’s family alleged the Will was a fake, made so that the probate administrators could gain access to Jackson’s estimated $500 million fortune. At this point, however, it appears that the Will and Trust were valid and that Jackson received quality legal advice before his death.

__________________________________________

See how Dossey & Jones can help with your estate planning needs!

Categories: 
Related Posts
  • Spring Cleaning for your Estate Plan Read More
  • Am I ready for Hurricane Season??... legally speaking Read More
  • New Law Automatically Transfers Car Titles at Death Read More
/