Michael Jackson's Estate Executors Demanding Payment
Posted by Michael Melchor on 12.16.2009
Somebody connected to Michael Jackson wants money? That's certainly new...
Michael Jackson's estate has not paid Special Administrators John Branca and John McClain a penny, but they now demand that change.
The two men, now officially the Executors of Michael Jackson's estate, are asking for 70% of the fees they have earned, pending court approval of the full amount.
The papers do not specify the exact amount Branca and McClain want. They do say that they want the statutory amount of executor fees for the first $25 million of the estate, which comes to $188,000. The estate is valued far in excess of $25 million, however, and the two Executors would be entitled to a portion of that as well. In addition, Branca and McClain also want fees "for their extraordinary services," though that amount is not specified.
According to the new documents, this could get expensive based on the fees some of the law firms connected with the estate are asking for. The law firm of Greenberg Traurig wants $1,547,064.50. The firm of Hoffman, Sabban & Watenmaker wants $957,644. The firm of Kinsella, Weitzman, Iser, Kump & Aldisert wants $420,062.50.
