Late Michael Jackson's daughter in legal battle over 0.8 billion won estate: "Contrary to father's wishes" [Star Issue]

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Paris Jackson, daughter of the late "King of Pop" Michael Jackson, filed a request with the court asking for $600 million (approximately 804.6 billion won) of her father's estate to be transferred to a family trust.

According to U.S. entertainment outlet PEOPLE on the 2nd (local time), Paris Jackson (28) recently submitted a petition to a Los Angeles court requesting an order to transfer $600 million (approximately 804.6 billion won) of Michael Jackson's estate to a family trust for herself and her siblings.

Through court documents submitted on the 29th of last month, Paris claimed that although more than 17 years have passed since her father's death, funds have still not been allocated to the family trust established for the children.

Michael Jackson died in 2009 and left behind three children: Prince Jackson (29), Paris Jackson (28), and Bigi Jackson (24).

According to court documents, the three children were entitled to receive income generated from their respective trust shares starting at age 21, and a portion of the trust principal starting at age 30. The structure also provided for additional asset distributions at ages 35 and 40.

However, Paris's side is arguing that the asset distribution intended by her father has not been properly carried out.

In particular, they pointed out that Michael Jackson's estate has generated substantial profits even after his death. Estate administrators sold their stake in EMI Music Publishing for $287.5 million (approximately 385.5 billion won) in 2018, and sold Michael Jackson's Neverland Ranch for $22 million (approximately 29.5 billion won) in 2020. In 2023, they also concluded a large-scale deal with Sony regarding music and intellectual property rights.

Paris's side claimed that these transactions brought in more than $1 billion (approximately 1 trillion 341 billion won) in cash to the estate. They further stated that as of the end of 2024, the estate held approximately $850 million (approximately 1 trillion 139.9 billion won) in cash and cash equivalents, and that even considering debts, an amount of $600 million (approximately 804.6 billion won) could be transferred to the family trust.

Paris also claimed that since she began raising issues about estate management methods last year, the funds provided to her and her siblings have decreased by millions of dollars (tens of billions of won).

On the other hand, the estate administrators refuted Paris's claims. The administrators explained that they could not transfer all funds to the trust due to unresolved legal issues, including an ongoing tax-related lawsuit with the U.S. National Tax Service (IRS).

In particular, they noted that the U.S. National Tax Service had previously demanded approximately $700 million (approximately 938.7 billion won) in taxes and penalties related to Michael Jackson's estate, which was later significantly reduced, but the related dispute has not yet been concluded.

Additionally, the administrators denied claims that they had suspended or cut off fund payments to the children, stating that more than $200 million (approximately 268.2 billion won) has already been paid for the three children.

In response, Paris's side counter-argued that the administrators are evading responsibility, claiming they had both the sufficient capacity and obligation to transfer a portion of the assets to the family trust.

Meanwhile, Paris was also involved in a legal dispute with the estate administrators earlier this year. In May, the court ruled that the estate administrators must return a $625,000 (approximately 838 million won) bonus paid to an external law firm to the estate.

The court is scheduled to hold a hearing on Paris's current request on December 4.

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*This content was translated by AI.View Original