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Michael Jackson's Will(.Pdf)

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Michael Jackson's Will(.Pdf) For Immediate Release Executors Named by Michael Jackson File Last Will in Los Angeles County Superior Court LOS ANGELES, CA, July 1, 2009 -- The last will of Michael Joseph Jackson was filed today in Los Angeles County Superior Court by the executors named by Mr. Jackson. The will, which was signed by Mr. Jackson on July 7, 2002, sets forth Mr. Jackson’s wishes and desires with regard to the guardianship of his beloved children -- Prince Michael Jackson Jr., Paris Michael Katherine Jackson and Prince Michael Joseph Jackson II -- and establishes the distribution of his assets. In particular, the document specifies that Mr. Jackson’s mother Katherine be declared the guardian for the children and that all of his assets be left to the Michael Jackson Family Trust, a private document not filed with the court. Executors of the estate designated by Mr. Jackson are attorney John Branca and longtime friend John McClain. Mr. Branca, a partner at Ziffren Brittenham LLP, represented Mr. Jackson from 1980 until 2006 and was hired again by Mr. Jackson prior to his untimely death last week. Mr. McClain, a friend of the Jackson family for 40 plus years, has enjoyed a long and distinguished career in the music industry. A third co-Executor named in the will, Barry Siegel, resigned from that role in 2003. Mr. Branca is uniquely familiar with Mr. Jackson’s assets, having played a critical role in building his estate through the acquisition and development of Sony/ATV Music Publishing, the Mijac publishing catalogue and obtaining for Mr. Jackson the ownership of his master recordings. In addition to serving as co-executor, Mr. Branca will serve as co-chief counsel of Mr. Jackson’s estate with another prominent entertainment attorney, Joel Katz of Greenberg Traurig LLP. Like Mr. Branca, Mr. Katz was hired by Mr. Jackson prior to his death and has a long history of working with members of the Jackson family. Mr. Branca and Mr. McClain stated, “The most important element of Michael’s will is his unwavering desire that his mother, Katherine, become the legal guardian for his three children. As we work to carry out Michael’s instructions to safeguard both the future of his children as well as the remarkable legacy he left us as an artist we ask that all matters involving his estate be handled with the dignity and the respect that Michael and his family deserve.” Paul Gordon Hoffman and Jeryll S. Cohen of Hoffman, Sabban and Watenmaker, are serving as probate counsel. Sitrick And Company has been retained to serve as communications counsel and will handle all media inquiries on behalf of Mr. Jackson’s estate. Please direct all media inquiries to: Sitrick And Company, Inc. 310-788-2850 Michael Sitrick [email protected] Jim Bates [email protected] Terry Fahn [email protected] ..- .--- ~. LAST WILL OF MICHAEL JOSEPH JACKSON I, MICHAEL JOSEPH JACKSON, a resident of the State of California, declare this to be my last Will, and do hereby revoke all former wills and codicils made by me. I I declare that I am not married. My marriage to DEBORAH mAN ROWE JACKSON has been dissolved. I have three children now living, PRINCE MICHAEL JACKSON, JR., PARIS MICHAELKATHERINEJACKSON and PRINCE MICHAEL JOSEPHJACKSON,IT.I haveno otherchildren,livingor deceased. IT It is my intention by this Will to dispose of all property which I am entitled to dispose-ofby wiil. I specificallyrefrain from exercisingaU150wersof appointmentthat I maypossessat the timeof ~y death. ill I give my entire estate to the Trustee or Trustees then acting under that certain Amendedand RestatedDeclarationof Trustexecutedon March 22, 2002 by me as Trustee and Trustor which is called the MICHAELJACKSONFAMILYTRUST, giving effectto anyamendmentstheretomade,. prior to mydeath. All suchassetsshallbe held, managedand distributedas a part of said Trust accordingto its terms and not as a separatetestamentary trust. .. If for any reasonthis gift is not operativeor is invalid, or if the aforesaidTrust fails or hasbeen revoked,I givemy residuaryestatd'tothe Trusteeor Trusteesnamedto act in the MICHAELJACKSON FAMILYTRUST, as Amendedand Restated on March 22,2002, and I direct said Trusteeor Trusteesto divide,administer,hold anddistributethe trust estate pursuantto the provisio~sof said Trust, as hereinabovereferredto as such provisionsnow .' exist to the same extent and in the same manner as though that certain Amended and RestatedDeclarationof Trust,were hereinset forth in full, but without givingeffectto any subsequentamendmentsafterthe date of this Will. The Trustee,Trustees,or any successor Trusteenamedin suchTrustAgreementshallservewithoutbond. IV I direct that all federalestatetaxes and stateinheritanceor successiontaxes payable A upon or resulting ftom or by reason of my death (herein "Death Taxes") attributableto Il/ propertywhich is part of the trust estate of the MICHAELJACKSONFAMILYTRUST, includingproperty which passes to said trust from my probate estate shall be paid by the Trustee of said trust in accordancewith its terms. Death Taxes attributableto property passing outside this Will, other than property constituting the trust estate of the trust inentionedin the precedingsentence,shallbe chargedagainstthe takerof saidproperty. V . I appointJOHNBRANCA,JOHNMcCLAINandBARRYSlliGEL as co-Executors of thisWill. Inthe eventof anyoftheirdeaths,resignations,inability,failureor refusaltM " serveor continueto serve as a co-Executor,the othershallS'erveandno replacementneedbe Y named. The co-Executorsserving at"any time after my death may name one or more replacementsto serve in the eventthat none of the threenamedindividualsis willingor able to serveat anytime. The term "my executors"as used in this Will shall include any duly actingperson~ A 11 fl bond.representativeor representativesof my estate. No individual acting as such need post avv {f-' I herebygive to my Executors,full power and authorityat any time or times to sell, lease, mortgage, pledge, exchange or otherwisedispose of the property, whether real or, personal comprising my estate, upon such terms as my Executors shall deem best, to continueanybusinessenterprises,to purchaseassetsftom my estate,to continuein forceand Page 2 pay insurancepremiums on any insurancepolicy, includinglife insurance,owned by my estate,and for any of the foregoingpurposesto make,executeanddeliveranyand all deeds, contracts,mortgages,bills of sale or other instrumentsnecessaryor desirabletherefor. In addition,I give to my Executorsfull powerto investandreinvestthe estatefunds and assets in any kind of property,real, personalor mixed, and everykind of investment,specifically including, but not by way of limitation,corporate obligations of every kind and stocks, preferredor common,and interestsin investmenttrusts and sharesin investmentcompanies, and anycommontrust fundadministeredby anycorporateexecutorhereunder,whichmenof prudentdiscretionandintelligenceacquirefortheirownaccount. VI Except as otherwiseprovidedin this Will or in the Trust refeITedto in Article m A11 hereof, I have intentionally omitted to provide for my heirs. I have intentionally omitted to(V \;1 provide for my fonner wife, DEBORAH JEAN ROWE JACKSON. vn If at the time of my deathI ownor have an interestin propertylocatedoutsideof the Stateof Californiarequiringancillaryadministration,I appointmy domiciliaryExecutorsas ancillaryExecutors for such property. I give to said domiciliaryExecutors the following additionalpowers, rights andprivilegesto be exercisedin their sole and absolutediscretion, with referenceto such property:to cause such ancillaryadministrationto be commenced, caITiedon and completed;to detennine what assets, if any, are to be sold by the ancillary Executors; to pay directly or to advance funds from the California estate to the ancillary Executorsfor the paymentof all claims,taxes, costsand administrationexpenses,including compensation of the ancillary Executors and attorneys' fees incUITedby reason of the ownershipof such property and by such ancillaryadministration;and upon completionof such ancillary administration,I authorizeand direct the ancillary Executors to distribute, transfer and deliver the residue of suchpropertyto the domiciliaryExecutorsherein, to be distributedby them under the tenns of this Will, it being my intentionthat my entire estate Page 3 -- .. ... shan be administeredas a unit and that my domiciliaryExecutors shall supervise and control,so far as pennissible by locallaw, anyancillaryadministrationproceedingsdeemed necessaryin the settlementof my estate. vm If any of my children are minors at the time of my death, I nominatemy mother, KATHERINEJACKSONas guardianof the pers~nsand estates_ofsuchminor children. If nominate DIANA ROSS as guardian of the pers I subscribe my name to this Will this On the date written below, MICHAELJOSEPH J undersigned,that the foregoinginstrumentconsistingof five (5) pages, includingthe page signed by us as witnesses, was his Will and requestedus to act as witnesses to it. 'He thereupon signed this Will in our presence,all of us being present at the same time. We now, at his request,in his presenceandin the presenceof eachother,subscribeournamesas witnesses. ~.- Each of us is now more than eighteen(18) yearsof age and a competentwitnessand residesat the addressset forthafterhis name. Each of us is acquaintedwith MICHAELJOSEPHJACKSON. At this time, he is over the age of eighteen(18) years and, to the best of our knowledge,he is of sound mind and is not actingunderduress,menace,fraud,misrepresentationor undueinfluence. Page4 .. "..,.~ "--~+--'"---"' ~., ',,.~ u.-~~"""""' '--"-=---"-- ,.-----..--- ~ H.._ ..""'-._ 0<.---...... .. , We declare under penalty of perjury that the foregoing is true and correct. !?xc;outed.on~ 2002at ,jf""1- ,~~__ 1 ~ ~~ ResidingAt -- .. , ResidingAt _ Residing At \ c r \ Page5 \ \.
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