Clearing Up Misunderstandings About Michael's Estate

lets clear up some misunderstandings about Michael's Estate.

When a person dies, everything they own, money, property, possessions etc is called The Estate of Mr *******. If the person has made a will, they will have named in their will the person or persons they want to look after their estate when they die.

In Michael's case he named John Branca and John Mcclain to look after his estate. These people are called The Executors Of The Estate.

The Executors Of The Estate are the ones who carry out the instructions in the will. By law before any inheritance is paid out, all debts and money owed by the dead person must be paid from the money the dead person had. This also includes any court cases which are pending or have been brought against the dead person.

This process is called probate. When an Estate is in Probate, no inheritance money can be paid out. This is the stage we are at with Michael. Michael's heirs, Katherine and the children receive an allowance from The Estate as Michael's Estate is still in probate. Once all debts, taxes and court cases have been cleared, then Katherine and the children will recieve their full inheritance and the % of money will be donated to charity, as per the instructions in Michael's will. This is the law

The Executors Of The Estate, John Branca and John Mcclain are in fact minders of Michael's Estate, looking after things as Michael's heirs are minors.

Many fans are under the illusion that John Branca and John Mcclain "own" things like ATV catalogue, Michael's money, etc. This is not true. They just look after things, as per Michael's request in his will. It is Michael's children, as heirs to Michael's Estate who actually own everything.

EDIT.....thanks to @Ivy_4MJ

A little correction. they won't get the full inheritance after the probate because Michael also set up trusts. Money would go to the trusts. KJ will continue to get whatever is needed for her care. Kids will get income starting at 21, assets starting at 30