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Michael Jackson’s Kids and Mom Barred from Trust Fund Payments Amid IRS Dispute
The IRS claims the estate ‘undervalued its assets,’ leading to the ongoing dispute that will keep funds from Michael Jackson’s family
As the legal battle continues, the estate is providing for Jackson’s kids and mother through “the family allowance.” “It seems clear to [Katherine] that the Executors are holding all of the assets in the Estate in order to keep control over them, and to avoid the more liberal distribution requirements of the Trust,” her court filing reads, according to People. Michael Jackson left more than an extensive musical legacy and his former estate of Neverland Ranch behind when he died at the age of the 50 on June 25, 2009 — the “Billie Jean” singer also had three children.
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