Jackson had long history with estate executor
LOS ANGELES — A week after Michael Jackson died, his longtime lawyer and friend, John Branca, arrived at a meeting with the singer's family. He carried the pop star's will, and with it, the news on who would benefit from the King of Pop's estate.
"It was very difficult," Branca recalled. "There were a lot of family members there, his sisters and most of the brothers and his mother, Katherine."
He told them three things: Katherine would be guardian of Michael's three children and receive 40 percent of the estate. The children would also receive 40 percent. The remaining 20 percent would go to unspecified charities to benefit children.
"They applauded three times when they were told who got the property," Branca said. "They were thrilled."
It also named Branca as co-executor — meaning that while the money went to the Katherine Jackson and the kids, Branca and music executive John McClain would be in charge of making it.
Katherine Jackson's attorney, L. Londell McMillan, has asserted that she should be given "a seat at the table" in executing deals for the estate. He has also said the family is considering a formal challenge to Branca and McClain, suggesting the two may not be fit to run the estate because of conflicts of interest and other factors. McMillan would not comment Friday on specifics about those objections.
Neither Branca nor McClain is unknown to the Jackson family. During more than 20 years as the pop superstar's lawyer, Branca, 58, was a principal architect of Jackson's financial empire. McClain, a successful record company executive and childhood friend of Jackson's, helped craft the recording career of Michael's sister Janet.
Branca plays down any conflict with the Jackson family.
"Everything is going to be fine," he said calmly during a wide-ranging interview with The Associated Press.
Branca and McClain have already won court approval for a deal that will bring the estate $60 million from a movie made of footage shot during rehearsals for the concerts Jackson was to have performed in London. A coffee-table book also was approved. But two multimillion-dollar projects, including a deal to market Jackson merchandise, have been stalled because of objections from Mrs. Jackson's camp.
"We're approaching the $100 million mark if those two deals in front of the court are approved," said Branca. "That's pretty remarkable — in six weeks as executors, to have brought $100 million into the estate."
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