Jackson administrators retain control of estate
By Corinne Heller
LOS ANGELES (Reuters) - A judge on Friday extended control of Michael Jackson's financial affairs to the administrators of his multimillion-dollar estate for three months, but urged them to settle differences with the late singer's mother.
Katherine Jackson, 79, is a beneficiary of the estate, valued at some $400 million, along with the singer's three children and charities. Her lawyers have said she wants a greater say in decisions made by the administrators, Los Angeles attorney John Branca and businessman John McClain.
In July, about two weeks after the "Thriller" singer's sudden death on June 25, Los Angeles Superior Court Judge Mitchell Beckloff gave temporary control of the estate to Branca and McClain, co-executors of Jackson's 2002 will.
Beckloff has now extended the oversight of the administrators until January 4, and ruled the administrators have the ability to respond to any creditor claims.
"The judge has made it very clear that he'd love us to arrive at some settlement," Howard Weitzman, a lawyer for the estate, told reporters outside the courthouse.
"So I think he has given us a clear mandate on how he thinks we should proceed. If we can do it within his parameters, great. And if not, then there'll be a trial," Weitzman said.
Katherine Jackson was not present at Friday's hearing but Michael Jackson's father and her husband, Joseph Jackson, was. Continued...