Monday, August 3, 2009

Michael Jackson’s comedy tops to courts

LOS ANGELES - drop out pop idol Michael Jackson’s vivid family saga continues, as a Los Angeles county judge considers who’ll get custody of Jacko’s children and who’ll control what’s left of his once-sprawling multimillion-dollar estate.

The King of Pop’s heirs - 12-year-old Prince Michael, 10-year-old Paris Michael and 7-year-old Prince Michael II, known as Blanket - learn whether Judge Mitchell Beckloff names their grandmother, Katherine Jackson, their guardian. Debbie Rowe, mother of two of the children, and Katherine Jackson reached a deal last week paving the way for Katherine Jackson.

No such deal has been reached on the Thriller’s finances.

Kathering Jackson and Jacko’s attorney, John Branca, and music executive John McClain, are all vying for control. The judge also will decide how to divy up Jackson’s estate, which has been described in court documents as having an estimated value of more than $500 million; its actual current worth is about $100 million, but could increase in value to $200 million or more with some financial restructuring.

The judge also has been asked to set an allowance for Katherine Jackson and her grandchildren.