Michael Jackson’s Death Tax is based on $200M and not $500M

Mother Katherine, MJJ and Joe JacksonMichael Jackson’s Death Tax is based on $200M and not $500M

 

They say Michael Jackson’s estate is now worth $500 Million, the estate tax is at death value of the estate and not the surge after the fact.  Maybe he was worth $200 Million at death and gained value?  Than the death tax is based on $200 Million and not $500 Million?  So it is really possible for the estate to pay about $85 Million in death taxes and walk away with about $500 Million when the dust is settled.  There were no state death taxes in California at the time of Michael death.

 

Everyone who has been following the Michael Jackson saga knows interest grow immensely concerning Michael after he died which is sad but true and his assets gain value almost immediately after his death.  It is said that the temporary executors are making deals worth tens of millions of dollars to the beneficiaries of the estate and is going to turn the deed to the Encino Mansion over to Mrs. Katherine Jackson and the stipend would be in addition to that, which is more than $3.5 Million, but still controlling.  I mean Mother Katherine did not say she was homeless she said they needed money.  But I guess it is all good, if the stipend is about the amount they are accustomed to the maintenance of their living standards which is a term (stipend) I understand to mean non taxable income.

 

I know these are tough times for the Jackson Family to have to deal with business at such an intensive level using good judgment as they start to realize Michael is not coming back.  Hopefully when all is settled they will have time to truly weep.

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