Taxation & Estate Planning

Debbie Rowe, Michael Jackson, and Custody: Scream

By Joel A. Schoenmeyer

Why would Debbie Rowe seek to become guardian of her two children with Michael Jackson? (Article here) Three words: follow the money.

Mr. Jackson's trust is (in part) for the benefit of his children. I would presume that he wanted them to be supported in the lifestyle to which they've become accustomed. As a result, becoming guardian of Mr. Jackson's children means joining them in their posh lifestyle.

It also seems unlikely that a judge will allow it. Why?

1. Judges don't like to separate children. Would a judge really grant guardianship of two children to Ms. Rowe, and guardianship of the other child to Mr. Jackson's mother? Doubtful.

2. My understanding is that Ms. Rowe, as part of her divorce settlement, agreed to relinquish all rights to raise the children.

Full post as published by Death and Taxes Blog on July 04, 2009 (boomark / email).