Michael Jackson Family Trust Will Control Michael Jackson Estate Decisions

The Michael Jackson Family Trust is going to draw a lot of attention very soon. The Michael Jackson Family Trust has been set up as an entity to be used to help out Michael Jackson and recipients in his will, but most importantly the Michael Jackson Family Trust will control Michael Jackson's estate. As is dictated in the Michael Jackson will, MJ is giving his entire estate to the Michael Jackson Family Trust, where all of the assets will be managed together rather than as separate entities. The will makes things easier for the executors, and having the Michael Jackson Family Trust in place will help his children long-term as well.

In Michael Jackson's will, he outlines exactly what will take place, and in section III of the 2002 will, he enables the executors to put into action the Michael Jackson Family Trust. The will states, "I give my entire estate to the Trustee or Trustees then acting under that certain Amended and Restated Declaration of Trust executed on March 22, 2002 by me as Trustee and Trustor which is called the MICHAEL JACKSON FAMILY TRUST, giving effect to my amendments thereto made prior to my death. All such assets shall be held, managed and distributed as a part of said Trust according to its terms and not as a separate testamentary trust."

What this all boils down to mean, is that the Trustees of the Michael Jackson Family Trust will have a lot of power when it comes to Michael Jackson's assets, but reading between the lines, it means that they will also over-see how much of the monetary assets, and at what intervals, Michael Jackson's kids will see the funds. Trusts like these are set up in order to help out people who are awarded monetary and physical assets in a will, and it will allow the Trustees to help advice the kids, and disperse the assets at the right time. His mother, Katherine Jackson, will also retain some rights as guardian of the children, and thus a vested interest in the Michael Jackson estate.

The Michael Jackson Family Trust is going to be flush with assets, and even after debtors are paid off for expenses incurred by Michael Jackson during his life, there will be a lot of funds and assets left to care for his children. The Michael Jackson Family Trust has also been stated to not provide anything for his former wife Deborah Jean Rowe, and means that the kids will receive a lion's share of the assets that Jackson retained at the time of his death. More details about the Michael Jackson Family Trust are sure to be released, but at this time if is safe to assume that his kids will be well taken care of for the rest of their lives.

Sources: Article on MJ will and The Michael Jackson Will