Revisiting old stuff - Michael’s 1st and 2nd Estate Accounting

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Offline hesouttamylife

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This is just an observation.  After reading the well publicized details of Michael’s 1st and 2nd estate accounting, I decided to look for others to compare.  However. I don’t find anyone else’s accounting records for public inspection on the web.  That is odd and speaks volumes.  Why is everything made public regarding Michael?  There  might be a summary of a deceased artist’s earnings and spending, but not a detailed line by line expense statement. It seems it’s all being done to appease the public when really, it should be private to the family and not anyone else’s business.  That the family does not complain about this full public disclosure tells me that is because it’s not real. 
"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

Offline Loveunited

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Wow! I am going to have to really ponder that!  How did you go about searching for other's accounts? Come to think of it, what was the source of the accounts that were released? If they are inaccurate, that changes lots of things for my perspective.   Good catch!! Have to reflect on that today while at work! :moonwalk_:

Offline hesouttamylife

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Wow! I am going to have to really ponder that!  How did you go about searching for other's accounts? Come to think of it, what was the source of the accounts that were released? If they are inaccurate, that changes lots of things for my perspective.   Good catch!! Have to reflect on that today while at work! :moonwalk_:

I really didn’t have a clue, so I started with searching again for Michael’s.  All one has to do to find his is to search 2nd Estate Accounting Michael Jackson and it takes you to a blog with the link to the pdf.  So I tried that with several other deceased stars, even changing to “estate accounting for…” “accounting records for” “estate earnings records” and some other wording.  I found nothing.  Please see if you can find anything on anybody.  It just popped in my head a few weeks ago and I started looking because it didn’t seem right for all of that info to be publicized.  It should be private.  The only reason for it to be publicized is to make the case to the doubting thomases that the Estate is handling their business contrary to what anyone thinks.  But why would it be so important to prove that to the world?  What difference does it make what people think if this is legit?  The only companies who’s records are open for public inspection an/or full disclosure upon request are charitable organizations and the government.  And I don’t think even theirs are on the world wide web.  You can make an appointment to go into their headquarters to see them.  Something is off about that.  I feel the exact same way about an Estate the size of Michael’s being able or even concerned about righting every rumor on social networks and in the tabloids.  They just would not have the time nor the interest in that.  Those things seemingly would be handled by a public relations firm.  What other mega entertainers estates get involved in he say, she say.  None.
« Last Edit: February 04, 2013, 11:05:46 AM by hesouttamylife »
"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

Offline MJonmind

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You've probably got a good point there.  Seems to me, MJ is the most thoroughly scrutinized human in history, and especially as hoaxers examine documents,  every inch of his body, autopsy, his every quote, habit, etc.  Yet at the same time he was one of the most private people, trying to keep certain parts of his life totally away from the public.  So in this hoax he gives everyone what they want-- only much of it is fictional.

Offline Loveunited

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Wow! I am going to have to really ponder that!  How did you go about searching for other's accounts? Come to think of it, what was the source of the accounts that were released? If they are inaccurate, that changes lots of things for my perspective.   Good catch!! Have to reflect on that today while at work! :moonwalk_:

I really didn’t have a clue, so I started with searching again for Michael’s.  All one has to do to find his is to search 2nd Estate Accounting Michael Jackson and it takes you to a blog with the link to the pdf.  So I tried that with several other deceased stars, even changing to “estate accounting for…” “accounting records for” “estate earnings records” and some other wording.  I found nothing.  Please see if you can find anything on anybody.  It just popped in my head a few weeks ago and I started looking because it didn’t seem right for all of that info to be publicized.  It should be private.  The only reason for it to be publicized is to make the case to the doubting thomases that the Estate is handling their business contrary to what anyone thinks.  But why would it be so important to prove that to the world?  What difference does it make what people think if this is legit?  The only companies who’s records are open for public inspection an/or full disclosure upon request are charitable organizations and the government.  And I don’t think even theirs are on the world wide web.  You can make an appointment to go into their headquarters to see them.  Something is off about that.  I feel the exact same way about an Estate the size of Michael’s being able or even concerned about righting every rumor on social networks and in the tabloids.  They just would not have the time nor the interest in that.  Those things seemingly would be handled by a public relations firm.  What other mega entertainers estates get involved in he say, she say.  None.



I found this video after asking the  the question  "are probate estate accounts public information"  . It seems they are; probably most people don't go in search of the records.

[youtube]http://www.ehow.com/video_4961587_what-made-public-probate.html[/youtube]

Offline hesouttamylife

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Wow! I am going to have to really ponder that!  How did you go about searching for other's accounts? Come to think of it, what was the source of the accounts that were released? If they are inaccurate, that changes lots of things for my perspective.   Good catch!! Have to reflect on that today while at work! :moonwalk_:

I really didn’t have a clue, so I started with searching again for Michael’s.  All one has to do to find his is to search 2nd Estate Accounting Michael Jackson and it takes you to a blog with the link to the pdf.  So I tried that with several other deceased stars, even changing to “estate accounting for…” “accounting records for” “estate earnings records” and some other wording.  I found nothing.  Please see if you can find anything on anybody.  It just popped in my head a few weeks ago and I started looking because it didn’t seem right for all of that info to be publicized.  It should be private.  The only reason for it to be publicized is to make the case to the doubting thomases that the Estate is handling their business contrary to what anyone thinks.  But why would it be so important to prove that to the world?  What difference does it make what people think if this is legit?  The only companies who’s records are open for public inspection an/or full disclosure upon request are charitable organizations and the government.  And I don’t think even theirs are on the world wide web.  You can make an appointment to go into their headquarters to see them.  Something is off about that.  I feel the exact same way about an Estate the size of Michael’s being able or even concerned about righting every rumor on social networks and in the tabloids.  They just would not have the time nor the interest in that.  Those things seemingly would be handled by a public relations firm.  What other mega entertainers estates get involved in he say, she say.  None.



I found this video after asking the  the question  "are probate estate accounts public information"  . It seems they are; probably most people don't go in search of the records.

[youtube]http://www.ehow.com/video_4961587_what-made-public-probate.html[/youtube]

can you re-post your link please  :icon_mrgreen:
"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

Offline Girl_In_the_Mirror

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Hi There..

you've probably already seen this (i am quite new on the forum)... but still,  i found this link on web, about Michael's assets... and then I posted 2 or 3 comments of which author i think is the author of the article....who's, btw, anonymous.

I'll post both the link and the article
http://www.datalounge.com/cgi-bin/iowa/ajax.html?t=11805317#page:showThread,11805317


AND THIS IS WHY THE JACKSON SIBLINGS ARE JUST INSANE .

Accusing MJS estate executors of fraud and not carrying out their duties when the estate is still in probate hence every deal and tansacation is cout approved..Fraud will be near impossible .

Here is Summary: of accs

Gross earnings as of May 31, 2012 is $475 Million.

Breakdown of $475 Million as follows - $310 Million gross earnings between June 2009 – October 2010 (first accounting period) - $134 Million gross earnings between November 2010 – December 2011. (second accounting period) - $30 Million gross earnings between January 2012 – May 2012.

Alll debt is current

Hayvenhurst mortgage paid

$65 Million of Mijac debt is paid and Estate expect to pay it in full by the end of 2012.

Estate is not in a position to be closed yet, Executors asking for administration of the Estate to be extended for one more year.

The only sale happened was some tangible property sold to Richard LaPointe per the settlement agreement in Julien’s Auction lawsuit. Schedule H lists all the items LaPointe got per settlement agreement.

Hayvenhurst is stated that “it will be maintained long term for the benefit of the family”. Renovations are still ongoing.

Katherine is asking for onetime payment of $205,401 to cover her professional fees occurred in 2011. Katherine is also asking for additional $34,700 per month to pay for her accountant and lawyers as well as to cover the expenses of family house in Gary Indiana and a residence in Las Vegas. Estate is asking the judge to allow this onetime payment and monthly increase.

12 Inventory value appraisals are done showing property valued at $50,677,002. Estate says additional personal property was discovered in Las Vegas and at Rock n Roll and Grammy Museum which is in total believed to be $6,700,000.

Estate’s main assets are 50% share in Sony/ ATV, 100% share in Mijac, Michael’s name and likeliness, Neverland and trademarks.

MJ Business activities consists of 2 Cirque shows (second resident show is scheduled to open in June 2013), Ubisoft MJ Experience game, multiple album deal with Sony, commercial endorsements and a possible film and documentary about Michael Jackson.

At the time of his death Michael was facing at least 6 lawsuits. Executors have been part of at least 15 lawsuits. 4 of them are still active, the rest have been resolved favorably for the Estate. Estate has also faced 65 creditor claims.

Estate is also employing multiple law firms around the world to protect Michael’s copyrights and trademarks. Second accounting lists 19 law firms (all around the world) and over $13.5 million in legal costs.

Schedule A (beginning) and Schedule I (end) shows the list of tangible property and business interest of Michael and now MJ Estate

In addition to Hayvenhurst (valued at $4.1 M) and a condo (valued at $315 K), Michael (and now his Estate) has 87.5% undivided membership in Neverland.

Schedule I shows by the end of December 2011, personal tangible property of Michael valued at $13 Million and MJ Estate cash (or equivalent) at $19 Million.

Schedule D shows net income from trade or business during second accounting period (Nov 2010- Dec 2011) at $106,734,448.

Payments to Katherine and MJ’s kids are as follows (Nov 2010- Dec 2011)

Kids allowance $2,139,194 Katherine allowance $470,814 Calabasas residence expenses $436,187 Condo payments $15,569 Hayvenhurst improvements $73,962 Taxes on properties $144,605 Insurance (health and property) $106,033 House employees $658,915 Katherine lawyer fees $233,911 Guardian ad litem $ 54,478 Utilities costs $53,211 Security $654,414 Repair & Maintenance $194,127

Total $5,205,516

Estate has also given multiple loans to Katherine

Loan 1 to Katherine $235,000 Loan 2 to Katherne $250,000 Loan 3 to Katherine $75,000 Loan 4 to Katherine $6,000,000 (for Katherine's debt to Segye Times)

Total loans to Katherine $ 6,560,000

Total paid to Katherine and kids equal $ 11,765,516 ( $5,205,516 + $ 6,560,000)

Estate paid $50,862,363 in taxes and licenses.

Estate has an archiving project ongoing that they paid $789,450. They paid over 1 million


COMMENTS:

This is complicated,mainly because of family egos and who they believe owns the right to MJ's legacy.I'm sure it must grate that the executors get 10% of the estate forever while the siblings have to go begging to them,hat in hand,for crumbs.. And obviously MJ's siblings think they can do a better job handling the finances but we all know that's not true.

Yes,Katherine has been going the estate executors for money that she is obviously using to support the rest of the Jackson clan but over six million already and counting? What the heck are they doing with all that money?They have to change their lifestyle and stop living like as though there's an endless supply of(MJ's)money. It would be great if they took a lesson from Elvis Presley's estate but then again,Lisa Marie is his only heir. There are so many more damn Jackson's to support on more limited resources.It's almost like the longer Michael Jackson is dead, the more sane he appears to be.

He might have died with debt, but he actually did seem to ave some of his affairs in order out of respect for his children.

Weird.

You would think that he would have had a Will bequeathing random nonsense to random people and such. Instead, he had an iron clad Will and certain methodical minded things in place outside of that for his own children.

A part of Michael Jackson knew the deal with his grown ass brothers and sisters all along! Good for him.

Don't all of Katherine's expenses have to be itemized for the executors to approve? Why would they approve millions for her care and feeding? I don't get it. She's 82 years old and probably only goes to church and bingo. WTF does she do with all that money? If I was MJ's executor, I'd ask to see her books or she'd get nada.

hmmm...2 things: 1. That whole June 2013 Cirque thing...worth keeping in mind.  :omg:
2. Why would Katherine need so much money? Just for her/her and MJ's kids/her,MJ's kids and the other members of the Jackson family? Or maybe all of those mentioned before  + 1 other member who, being so dead, could use some of the money that mother Katherine is "loaning"...
Maybe my theory is good-for-nothing, but I though it was worth mentioning .... :confused:
http://images2.fanpop.com/image/photos/12900000/MICHAEL-michael-jackson-12950190-320-180.gif
"As the planet faces danger and bad days,
We look up to you and we bring our praise
So, know that moonwalkers will always stand by
The man with the heart as big as the sky!" (GITM -  February 2013)

Offline MJonmind

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Girl_In_the_Mirror
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2. Why would Katherine need so much money? Just for her/her and MJ's kids/her,MJ's kids and the other members of the Jackson family? Or maybe all of those mentioned before  + 1 other member who, being so dead, could use some of the money that mother Katherine is "loaning"...
I guess that would include payment for all their well-done hoax performances. And I hope MJ is having a little fun during this 'hidden' time.  If this is true the moneys have been frugally spent.

Thanks for finding that interesting article on MJ's assets!

Offline Girl_In_the_Mirror

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you're welcome MJonmind!  :bearhug:
I posted the comments which I ve found to be more interesting than others  [they were written probably by the author], but what you highlighted with red - those were my own personal thoughts :p so thanks for the feedback, glad I could help :)
One more thing: I've found a funny thing on Paris's twitter account :p For some reason, I cannot seem to insert it, but I'll quote what a bunch of people who call themselves We <3 The King of Pop wrote on Paris's twitter... i print-screened the page, for you to see it with your own eyes, but since i can't upload the image... :(

Again, for some reason, I cant seem to find this tweet anymore... hmmm...
Anyway, here it is, as I saw it on P's Twitter: Paris Jackson is a good actress. Prince Jackson is handsome. Blanket is adorable. Michael Joe Jackson is alive.


 :WTF:

 :confused:
http://images2.fanpop.com/image/photos/12900000/MICHAEL-michael-jackson-12950190-320-180.gif
"As the planet faces danger and bad days,
We look up to you and we bring our praise
So, know that moonwalkers will always stand by
The man with the heart as big as the sky!" (GITM -  February 2013)

Offline sweetsunsetwithMJ

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Hayvenhurst mortgage paid?!?!?!?!?  :icon_e_confused:

girl_in_the_mirror
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Again, for some reason, I cant seem to find this tweet anymore... hmmm...
Anyway, here it is, as I saw it on P's Twitter: Paris Jackson is a good actress. Prince Jackson is handsome. Blanket is adorable. Michael Joe Jackson is alive.

When did you see that Paris' tweet?? can you give us the link to that twitter, could it be a fake twitter I don't think Paris is gonna tweet something like that, to say so blatantly that his father is alive.
« Last Edit: February 08, 2013, 11:17:37 AM by sweetsunsetwithMJ »
I WANNA BE WHERE YOU ARE!!

Offline Girl_In_the_Mirror

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Hayvenhurst mortgage paid?!?!?!?!?  :icon_e_confused:

girl_in_the_mirror
Quote
Again, for some reason, I cant seem to find this tweet anymore... hmmm...
Anyway, here it is, as I saw it on P's Twitter: Paris Jackson is a good actress. Prince Jackson is handsome. Blanket is adorable. Michael Joe Jackson is alive.

When did you see that Paris' tweet?? can you give us the link to that twitter, could it be a fake twitter I don't think Paris is gonna tweet something like that, to say so blatantly that his father is alive.
but I'll quote what a bunch of people who call themselves We <3 The King of Pop wrote on Paris's twitter..
I didn't say that Paris tweeted it :p
but some guys who probably have  a Twitter account ...
Hayvenhurst mortgage paid?!?!?!?!?
what about it? :confused:
http://images2.fanpop.com/image/photos/12900000/MICHAEL-michael-jackson-12950190-320-180.gif
"As the planet faces danger and bad days,
We look up to you and we bring our praise
So, know that moonwalkers will always stand by
The man with the heart as big as the sky!" (GITM -  February 2013)

Offline Sunnie

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 Whenever the media releases information about Michael's finances and estate i cringe. No ones personal information should be public like that. It reminds me of the time a news reporter asked him about his financial stability because of rumors about him being in debt and going broke. So,Michael said something like, 'That's not true, I just wrote a check for thousands of dollars.  I dont think he usually replied and gave such personal issues recognition like he did with that interview. So for his business  to be so available is questionable.Like He'sOuttamylife said, its all to appease the public. I'd rather not know because its somebody elses life anyway, than listen to lies. I guess that's a consequence of looking where you should'nt you get nothing but dirt. :confused:

Offline MJonmind

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Girl_In_the_Mirror, here is our forum’s HoaxPic upload site: Click ‘Choose file’, double-click on the picture in your personal file, click ‘Upload’, after picture appears on Hoaxpic, then click in the box beside ‘BBCode (Forums):  right-click ‘copy’, and lastly 'paste' it in your post.  The picture will appear when you preview or post.  It would be better if you posted it in the Paris twitter thread.
http://www.michaeljacksonhoaxforum.com/hoaxbook/simplepage/hoaxpic-uploader
« Last Edit: February 09, 2013, 01:44:57 AM by MJonmind »

Offline Girl_In_the_Mirror

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Girl_In_the_Mirror, here is our forum’s HoaxPic upload site: Click ‘Choose file’, double-click on the picture in your personal file, click ‘Upload’, after picture appears on Hoaxpic, then click in the box beside ‘BBCode (Forums):  right-click ‘copy’, and lastly 'paste' it in your post.  The picture will appear when you preview or post.  It would be better if you posted it in the Paris twitter thread.
http://www.michaeljacksonhoaxforum.com/hoaxbook/simplepage/hoaxpic-uploader
Thank you MJonmind! I'm embarassed, I knew there must be a way I can upload a photo, but I was typing while at work, and also busy... and yes, you're right... I'll move it to the Paris twitter thread.
 :bearhug:
http://images2.fanpop.com/image/photos/12900000/MICHAEL-michael-jackson-12950190-320-180.gif
"As the planet faces danger and bad days,
We look up to you and we bring our praise
So, know that moonwalkers will always stand by
The man with the heart as big as the sky!" (GITM -  February 2013)

Offline paula-c

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In addition to Hayvenhurst (valued at $4.1 M) and a condo (valued at $315 K), Michael (and now his Estate) has 87.5% undivided membership in Neverland.

Online Andrea

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In addition to Hayvenhurst (valued at $4.1 M) and a condo (valued at $315 K), Michael (and now his Estate) has 87.5% undivided membership in Neverland.


Yep, that stuck out to me as well.  Perhaps Michael and his "Estate" will have 100% by the time this hoax is over.

Offline MJonmind

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Girl_In_the_Mirror, sorry, didn't mean to embarrass you!  :smiley_abuv:

Offline Girl_In_the_Mirror

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Girl_In_the_Mirror, sorry, didn't mean to embarrass you!  :smiley_abuv:
It's ok, MJonmind! No problem, I totally understand and you were right!
BTW, I have a new idea, theory, after having watched more than 10 MJ interviews yesterday ... I guess I should start a new topic, huh? :p
 :bearhug:
http://images2.fanpop.com/image/photos/12900000/MICHAEL-michael-jackson-12950190-320-180.gif
"As the planet faces danger and bad days,
We look up to you and we bring our praise
So, know that moonwalkers will always stand by
The man with the heart as big as the sky!" (GITM -  February 2013)