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Wednesday, May 4, 2016

Don't Be Like Prince, Be a King! of Pop that is...the Michael Jackson Estate!

Every so often I like to provide a little helpful information to my friends and clients even if but to jog their memory. Many people are aware of the passing of Prince Rogers Nelson also known as "Prince" and "The Artist formerly known as Prince" the very successful artist/singer that many of us learned to appreciate his music and other talents. As you may or may not know that he was worth well over 300 milllion dollars, a net worth many of us aspire to achieve, but alas may not. However; regardless of his net worth he wasn't blessed or cursed with a friend like me (Depending on how you look at it), but all jokes aside, he departed this earth without a WILL and or TRUST. You may ask how is that possible....well it is. In any case, I just wanted to inform you all that its not as complicated or as expensive as you may think to ensure the protection of your family and assets so that they don't go to the STATE should something bad happen to you, as in Princes's case, more than 150 MILLION DOLLARS is now in the States hands simply because he didn't have these items in place.

We have a service that can provide you with a WILL, TRUST, MEDICAL and FINANCIAL Powers of attorney for as little as $499.00 or only $87.00/month (Which includes other benefits and services). I really urge all of you to make sure you have these items in place and all it takes is one call to me or any of my representatives to get this started and you and your family won't find yourselves in the same position and the Nelson family. By the way, if you believe that because you may not have much, you don't need these things, think again, because the bank isnt going to just let you get your loved ones money out of the account even if it is only $100.00 without certain legal documents in place....nor will you be able to sell their property, (cars, stock etc.) and you may not even be able to gain immediate access to their home or apartment to take care of their things if they are not able to. Without these items in place you could be looking at going through a legal process called Probate...which could cost you any amount from $5000.00 to well you get the idea and take months to gain the access you need to handle their affairs.

Talk to your loved ones and make this important decision....WHETHER YOU CHOOSE TO USE MY SERVICES OR NOT...PLEASE, PLEASE PLEASE just look into it. 

CLick here to learn more about our MY CARE PLAN which includes a WILL, TRUST, MEDICAL and FINANCIAL POWERS of ATTORNEY.

Click here to ENROLL in our services for your WILL, TRUST, MEDICAL and FINANCIAL POWERS of ATTORNEY for $499.00
(For a $100.00 Discount contact us by May 15, 2016 to enroll in the office or by phone)

On that note:

Many estate planning professionals advise their clients to review their plans every two years. Additionally, if one of any of the following events should occur, we recommend you review your documents for any possible changes that may be needed:

  • You marry, remarry or divorce
  • You have a child or new grandchild
  • You move to a different state
  • Your assets change in value significantly and/or the estate tax laws change
  • One of your heirs dies or has a permanent change in health
  • Your children reach 18 years of age
  • The laws affecting your estate change
  • The executor of your will or the administrator of your trust dies or becomes incapacitated, or your relationship with that person changes significantly

Please call or email me for a free consultation about the services above if you have questions.

Nearly seven years after his death, the yawning, half-billion-dollar abyss of debt that Michael Jackson left behind has turned into a mountain of profit whose latest summit was topped this week thanks to a massive payday on his 50 percent stake in Sony/ATV.

Sony to Buy Out Michael Jackson Estate's Half of Sony/ATV Music Publishing

The $750 million deal has Sony Corp. buying out the Jackson estate's piece of Sony/ATV, the joint music publishing company, whose holdings include songs by The Beatles and Bob Dylan. Jackson, who died in 2009, paid $41.5 million for ATV Music in 1985.

It was just the latest in a string of blockbuster moves that last year pushed Jackson to the top of Forbes' list of Top-Earning Dead Celebrities with a reported $115 million, ahead of Elvis Presley, Bob Marley and Marilyn Monroe.  

According to that report, the singer's estate has rung up more than $1 billion, pre-tax, to date. With the Sony deal, the estate's executors -- attorney John Branca and music exec John McClain -- have pulled off what a source close to the estate called a $1 billion turnaround, from $500 million of debt to $500 million in cash.

Here's how they did it: 

· After feuding with the family over its release, the posthumous documentary Michael Jackson's This Is It, released four months after Jackson passed in July, 2009, went on to become the highest-grossing music documentary of all time, with worldwide box office in excess of $300 million. The estate took in 87 percent of the back-end on the movie, with the source putting the gross figure going into the estate's coffers at north of $200 million when TV rights and DVD sales are factored in.

· In 2010, Branca and McClain brokered what a source called the biggest record deal in history, a $200 million guaranteed contract with Sony covering seven albums and other associated projects.

· Jackson's catalog continues to be a monster. Estimates of posthumous sales in the first five years after his death were in excess of 13 million in the U.S. alone. Considering that Jackson has consistently sold an estimated 70 percent of his records outside of the U.S., total sales since 2009 have easily surpassed 43 million worldwide. That makes Jackson the No. 1-selling global artist over the past seven years, surpassing such contemporary superstars as Adele and Taylor Swift.

· The 2012 Michael Jackson: The Immortal Tour -- an equally split joint venture with Cirque du Soleil in which the estate earned a 13 percent cut off the top of box office sales -- grossed more than $370 million worldwide, making it one of the top-grossing rock tours of all time.

· A permanent show at Mandalay Bay in Las Vegas, Michael Jackson: One, is another fifty-fifty joint venture with Cirque in which the estate earns a 10 percent box office take, which, like “Immortal” includes percentages for royalties and publishing. A source said the permanent performance is one of the top two grossing shows in Las Vegas, just behind Cirque's O, earning around $90 million a year.

· Money also continues to roll in thanks to the strength of the Mijac Music catalog, which holds the rights to MJ's recordings and masters, as well as music by Sly and the Family Stone, Ray Charles, Presley and Aretha Franklin.

· The estate recently renewed a deal with Bally Technologies for the Michael Jackson King of Pop slot machine, extending the pact for five more years. A source said the venture has brought in a healthy eight-figure sum so far.

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