Paris Jackson is asking a judge to order the estate of her late father, Michael Jackson, to fund the family trust and make distributions in line with his will. In legal filings submitted last week, she alleges the trust remains underfunded despite her father’s death in 2009.
Jackson says the will provided for beneficiaries — her, Prince and Bigi — to receive trust income from age 21 and principal distributions from age 30. She claims at least $600 million in cash is available to distribute, but that the siblings have not received what they are entitled to. Prince is 29, Paris is 28 and Bigi is 24.
Her filing accuses estate executor John Branca of using control over distributions to discourage scrutiny and says the beneficiaries have received only smaller amounts. Jackson also points to a 2011 court filing in which estate officials said they intended to seek a preliminary distribution, arguing that the proposed request never followed. She alleges that her year-long dispute with Branca and the estate has led to retaliation, including limits on the money she has received.
A representative for the estate says it cannot fully fund the beneficiaries’ individual trusts or philanthropic giving until legal hurdles are resolved, particularly ongoing IRS litigation. The representative said the IRS had sought $700 million in taxes and penalties, that the estate obtained a ruling reducing the amount, and that the matter remains unsettled. The estate also denies withholding or cutting payments, saying more than $200 million has already been distributed for the benefit of Paris and the other beneficiaries.
The estate’s representative said the will is clear and that the children will not receive distributions until they are in their 30s. Estate lawyer Jonathan Steinsapir accused Jackson and her attorneys of making false claims through the courts. Jackson’s request asks the judge to compel the estate to fund the trust and distribute the money.
Sources: TMZ.