Michael Jackson’s children still have not received their full inheritance, even though the singer died nearly 17 years ago. The reason is a long-running legal and tax dispute linked to his estate.
Jackson’s reported estate is said to be worth around $2 billion, but it has not yet been fully divided between his children, Prince, Paris and Bigi. While they do receive money from the estate, the final inheritance has been delayed because the full tax bill has still not been settled.
At the centre of the issue are the estate’s co-executors, John Branca and John McClain, who have controlled Jackson’s finances since his death. Paris Jackson is now in a legal dispute with them, accusing them of mismanaging the estate.
A recent court ruling went against Paris after a judge granted a petition from the co-executors to remove parts of her lawsuit. However, a representative for Paris said the decision only dealt with procedural issues and did not change the wider concerns she has raised.
That representative said Paris will continue trying to make sure her family is treated fairly. The statement also said a new filing will be submitted.
According to court reports, Paris has argued that the legal fight has been painful and distracting. She also accused the executors of trying to undermine her in public rather than dealing with the main issues in the case.
The estate’s legal team has denied the claims. In a lengthy status report, the co-executors rejected the accusations made against them.
For now, the key issue remains tax. Until it is decided how much the estate owes, Michael Jackson’s children are expected to keep receiving grants rather than their full share of the fortune.
