Jackson estate administrators want more of profits
By ANTHONY McCARTNEY, AP Entertainment Writer Anthony Mccartney, Ap Entertainment Writer 26 mins ago
LOS ANGELES - Two men who control Michael Jackson's estate are seeking 10 percent of profits they're able to generate from the late pop superstar's work.

Attorney John Branca and music executive John McClain filed a motion Friday asking a court to approve the compensation, which will pay for a variety of services both men promise to provide. The filings state that the 10 percent will exclude profits from the "This is It" documentary and Jackson's interest the Sony/ATV music catalog.

Jackson's estate's value has been estimated at $500 million, but the singer died in significant debt and the estate faces a number of creditors' claims and lawsuits.

Branca and McClain's filing states other high-profile musicians' estates have employed advisers who have received 15 to 25 percent of profits after death.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

LOS ANGELES (AP) - Michael Jackson's estate has opposed a bid by the late singer's father to receive a monthly allowance, saying it would take money away from the singer's young children.

Attorneys for estate administrators John Branca and John McClain on Thursday filed papers opposing Joe Jackson's efforts to get more than $15,000 a month from his son's estate. The filing states Joe Jackson has failed to show that his superstar son supported him while he was alive. Jackson died June 25 in Los Angeles at age 50.

The filings also note that the singer omitted his father as a beneficiary in his will and trust, and that any money paid to Joe Jackson would reduce the estate's assets available for Michael Jackson's mother and children.

The children, Katherine Jackson and various unnamed charities are the only beneficiaries of Michael Jackson's estate. Katherine Jackson and the children are receiving more than $86,000 a month, and the administrators recently moved to increase the monthly stipends. The exact allowance amount has not been released.

Joe Jackson's attorney, Brian Oxman, said the opposition filing means the issue will now likely be decided after lengthy proceedings. "It's a pretty difficult thing to go through," Oxman said. "Michael took care of most of his life."

Oxman said he intends to prove to a judge, who will have to decide whether to award Joe Jackson an allowance, that the superstar supported his father.

"I was present when Michael would take care of his father," Oxman said. "I saw it happen. Lots of people saw it happen."

Joe Jackson filed for the monthly stipend in November, saying he had little income and relied on his son's help to survive.

It will be up to a judge to decide whether Joe Jackson receives any money from the estate. A hearing on the petition is scheduled for Jan. 28.

A former steelworker, Joe Jackson managed and trained his children and organized the Jackson 5. He has been married to Katherine Jackson for 50 years, but he lists his home in Las Vegas. She lives at a family home in the San Fernando Valley north of Los Angeles.

He is seeking payment for expenses that include $1,200 a month on rent for his Las Vegas home; $2,500 to eat out; $1,000 on entertainment, gifts and vacations; $2,000 on air travel and $3,000 on hotels.