NEWSMJ's Family Concerned About Charities
Sept. 10 2009, Published 3:14 p.m. ET
Michael Jackson's family is concerned over the charities that are going to get 20 percent of his estate -- as designated in his will -- according to TMZ, which cites "family sources."
But their worries could be premature, as none of the charities have been picked yet. None of Michael's money will be going anywhere, donation-wise, for between one and two years. Because no one knows yet how much MJ's estate is worth, that 20 percent cannot presently be determined.
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Creditors are still filing claims, and those claims could take awhile for a judge to settle, especially with a value for the estate yet to be assigned.
The charities will be decided by a committee of three, according to MJ's trust: Katherine Jackson and co-executors John Branca and John McClain. It isn't specified in the trust, however, how the committee should select beneficiaries in the event they don't agree, which could be tricky.
