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Thread started 12/23/17 7:29pm

luv4u

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The Estate Discussion - Part 12 - Continued

Thread is getting wayyyyy long. Continue the discussion here.

Part 11 here http://prince.org/msg/7/448386


You can sign up to receive updates:


http://www.mncourts.gov/I...elson.aspx

Edmonton, AB - canada

Ohh purple joy oh purple bliss oh purple rapture!
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #1 posted 12/23/17 9:26pm

Mumio

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luv4u said:

Thread is getting wayyyyy long. Continue the discussion here.

Part 11 here http://prince.org/msg/7/448386


You can sign up to receive updates:


http://www.mncourts.gov/I...elson.aspx


Thanks Luv hug

Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #2 posted 12/24/17 8:00pm

Highonpurple

Surprises will shock stacks of pages in Chanhassan

Walk on water will B build part aquarium as round table

Called the love symbol hotel suites, fishes swimming naked

A restaurant serving fresh sushi captured on site or just vegan

A preprogrammed tailored list 4 visitors of Prince music, 2 trigger a pleasant stay

Running into another side of Prince people that were all part of his musicology band

Merry Xmas and a very happy new year 4 all in 2018 & will set some records straight.

The story that's about 2 unfold, please have no doubt how real God is & Spike Lee Cinema

Part 12-continued, Highnoon 2 Midnight on 12

I never ask, but if I have 2 claim all the fame in the world 2 proof GOD I will

Tables are turned even the pope knows, with Prince in Heaven

I did not come 2 f*ck around, rather clean up a big mess

I hope no one will B my cage 2 my dove, only God 4 real as witness 2 the Lord

A servant sharing good will, thanks 4 all the compassion and understanding

Y me, only with time answers appear, I'm very grateful none the less

What a honor 2 B part of something greater I'm still in Awe.

Peace Fee Lee

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Reply #3 posted 12/26/17 9:57pm

ISaidLifeIsJus
tAGame

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Highonpurple said:

Surprises will shock stacks of pages in Chanhassan

Walk on water will B build part aquarium as round table

Called the love symbol hotel suites, fishes swimming naked

A restaurant serving fresh sushi captured on site or just vegan

A preprogrammed tailored list 4 visitors of Prince music, 2 trigger a pleasant stay

Running into another side of Prince people that were all part of his musicology band

Merry Xmas and a very happy new year 4 all in 2018 & will set some records straight.

The story that's about 2 unfold, please have no doubt how real God is & Spike Lee Cinema

Part 12-continued, Highnoon 2 Midnight on 12

I never ask, but if I have 2 claim all the fame in the world 2 proof GOD I will

Tables are turned even the pope knows, with Prince in Heaven

I did not come 2 f*ck around, rather clean up a big mess

I hope no one will B my cage 2 my dove, only God 4 real as witness 2 the Lord

A servant sharing good will, thanks 4 all the compassion and understanding

Y me, only with time answers appear, I'm very grateful none the less

What a honor 2 B part of something greater I'm still in Awe.

Peace Fee Lee

Huh?

stoned

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Reply #4 posted 12/27/17 5:18am

Rev

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ISaidLifeIsJustAGame said:

Highonpurple said:

Surprises will shock stacks of pages in Chanhassan

Walk on water will B build part aquarium as round table

Called the love symbol hotel suites, fishes swimming naked

A restaurant serving fresh sushi captured on site or just vegan

A preprogrammed tailored list 4 visitors of Prince music, 2 trigger a pleasant stay

Running into another side of Prince people that were all part of his musicology band

Merry Xmas and a very happy new year 4 all in 2018 & will set some records straight.

The story that's about 2 unfold, please have no doubt how real God is & Spike Lee Cinema

Part 12-continued, Highnoon 2 Midnight on 12

I never ask, but if I have 2 claim all the fame in the world 2 proof GOD I will

Tables are turned even the pope knows, with Prince in Heaven

I did not come 2 f*ck around, rather clean up a big mess

I hope no one will B my cage 2 my dove, only God 4 real as witness 2 the Lord

A servant sharing good will, thanks 4 all the compassion and understanding

Y me, only with time answers appear, I'm very grateful none the less

What a honor 2 B part of something greater I'm still in Awe.

Peace Fee Lee

Huh?

stoned

Not that it matters, but I can't tell if HOP is "high", being artistic/poetic, English is their 2nd language or all of them.

No judging, I just can't make sense of it. neutral

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Reply #5 posted 12/27/17 1:21pm

Astasheiks

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razz HOP, is all over the place lol

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Reply #6 posted 12/27/17 1:52pm

Astasheiks

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luv4u said:

Thread is getting wayyyyy long. Continue the discussion here.

Part 11 here http://prince.org/msg/7/448386


You can sign up to receive updates:


http://www.mncourts.gov/I...elson.aspx

There is a Ton info on that link... eek smile

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Reply #7 posted 12/29/17 5:10am

laurarichardso
n

This is good news for the Prince estate. One of the things Comerica said in the court docs is that they were waiting to see how this IRS case with the Jackson estate turned out.

Michael Jackson Estate May Avoid Penalties in IRS Dispute
[​IMG]
Bloomberg

Edvard Pettersson

[​IMG]© BLOOMBERG NEWS/Bloomberg Michael Jackson Estate May Avoid Penalties in IRS Dispute

The estate of Michael Jackson looks to have escaped a possibly hefty penalty for allegedly undervaluing the late singer’s assets.

A U.S. Tax Court judge denied the Internal Revenue Service’s bid to provide additional evidence in a case that was tried in Los Angeles in February. Because the agency didn’t show that it complied with certain procedural requirements, it’s barred from seeking as much as 40 percent of the allegedly understated tax in penalties.

“What happens if a party with the burden of production on an issue fails to introduce sufficient evidence at trial to meet that burden?” Judge Mark Holmes said in his Dec. 20 order. “Well, he loses.”

The executors of Jackson’s estate, lawyer John Branca and former music industry executive John McClain, have been busy monetizing the legacy of the singer, who died in 2009, for the benefit of his children.

“This Is It,” a documentary about Jackson’s preparations for his ill-fated 2009 tour, went on to be the highest-grossing concert movie of all time, with $261.2 million in worldwide sales, according to researcher BoxOfficeMojo.com. Last year, the estate sold Jackson’s half of the Sony/ATVmusic publishing business to Sony for $750 million.

In 2013, the IRS went after the estate with a “notice of deficiency,” claiming it had undervalued assets including real estate, a Bentley automobile and the late singer’s “image and likeness.”

[​IMG]© Frazer Harrison/Getty Images Michael Jackson's Neverland Ranch in 2003.The court ruling didn’t quantify how much the assets were allegedly undervalued, but Bloomberg Businessweek reported in February that the IRS claimed Jackson’s name and image should have been valued at $434 million. The estate claimed that it was worth a mere $2,105, implying that his image had been rendered all but worthless by stories about skin bleaching, his obsession with plastic surgery, prescription drug abuse, and allegations that he molested young boys who visited Neverland Ranch.

“The court’s order denying the IRS’s request to reopen the trial record was well reasoned and could prevent the government from seeking penalty assessments on their claim against the Estate of Michael Jackson," said Howard Weitzman, a lawyer for the estate.

A representative for the IRS said the agency can’t comment on ongoing lawsuits.

The case is Estate of Michael J. Jackson v. IRS, 17152-13, U.S. Tax Court (Washington).

To contact the reporter on this story: Edvard Pettersson in Los Angeles at epettersson@bloomberg.net.

To contact the editors responsible for this story: Elizabeth Wollman at ewollman@bloomberg.net, Peter Blumberg, Crayton Harrison

Michael Jackson Estate May Avoid Penalties in IRS Dispute

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Reply #8 posted 01/02/18 6:29am

udo

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laurarichardson said:

This is good news for the Prince estate.

.

So MJ had an estate since 2009 and is still in court?!

Did he have a will?

Pills and thrills and daffodils will kill
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Reply #9 posted 01/02/18 7:35am

laurarichardso
n

udo said:

laurarichardson said:

This is good news for the Prince estate.

.

So MJ had an estate since 2009 and is still in court?!

Did he have a will?

MJ has a Trust and his family still cut up and the IRS came after the estate for undervaluing the worth of Mike image.

The Trust saved the estate millions in taxes but the IRS is trying to get money any way they can.

Comerica said the court papers they wanted to wait and see how this case turned out before closing the promote on Prince's estate to avoid taxes, fees and penalites. Something the older sibs are clueless on because it does not appear they have attorneys who know anything about estate management.

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Reply #10 posted 01/02/18 2:25pm

cloveringold85

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laurarichardson said:

udo said:

.

So MJ had an estate since 2009 and is still in court?!

Did he have a will?

MJ has a Trust and his family still cut up and the IRS came after the estate for undervaluing the worth of Mike image.

The Trust saved the estate millions in taxes but the IRS is trying to get money any way they can.

Comerica said the court papers they wanted to wait and see how this case turned out before closing the promote on Prince's estate to avoid taxes, fees and penalites. Something the older sibs are clueless on because it does not appear they have attorneys who know anything about estate management.

.

Sony Music and the estate of Michael Jackson have agreed to a recording deal that will continue the label’s 42-year relationship with the singer and his music, it was announced today by Rob Stringer, Sony Music CEO and John Branca and John McClain, co-executors of Jackson’s estate.

.

Effective January 1, 2018, Sony Music will extend the term of their administration of Michael’s record catalog in a long term recording agreement. Sony will also have the opportunity to partner on additional projects that the Estate may produce during the term of the agreement.

.

http://variety.com/2017/b...202640787/

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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Reply #11 posted 01/02/18 2:29pm

cloveringold85

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MJ is one of the top richest dead celebrities for 5-years in a row.......

.

Jackson is atop the Forbes list of top-earning dead celebrities for the fifth straight year, with $75 million. Forbes says Jackson’s earnings are boosted by a new greatest hits album, a Las Vegas Cirque du Soleil show and a stake in the EMI music publishing catalog.

Two other singers join Jackson in the top five. Elvis Presley comes in fourth with $35 million and Bob Marley ranks fifth with $23 million.

.

https://www.billboard.com...ities-list

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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Reply #12 posted 01/02/18 2:53pm

luv4u

Moderator

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^^^^^^^ Can ya'all keep this thread on track instead of derailing the discussion about the Prince Estate? Thanks.

Edmonton, AB - canada

Ohh purple joy oh purple bliss oh purple rapture!
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #13 posted 01/02/18 3:22pm

Dibblekins

Ooops - wrong thread.

[Edited 1/2/18 15:24pm]

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Reply #14 posted 01/02/18 3:42pm

cloveringold85

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Sorry, my bad. duh

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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Reply #15 posted 01/02/18 6:39pm

laurarichardso
n

luv4u said:

^^^^^^^ Can ya'all keep this thread on track instead of derailing the discussion about the Prince Estate? Thanks.

Information about MJs does pertain to Prince's estate and explained the reason.

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Reply #16 posted 01/03/18 12:29pm

cloveringold85

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I saw that one of Prince's last properties is up for sale. I guess his real estate would be considered part of his estate, yes? confused

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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Reply #17 posted 01/03/18 6:13pm

luv4u

Moderator

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cloveringold85 said:

I saw that one of Prince's last properties is up for sale. I guess his real estate would be considered part of his estate, yes? confused


Yes

Edmonton, AB - canada

Ohh purple joy oh purple bliss oh purple rapture!
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #18 posted 01/03/18 7:16pm

PennyPurple

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cloveringold85 said:

I saw that one of Prince's last properties is up for sale. I guess his real estate would be considered part of his estate, yes? confused

I wonder who recently lived in that house?

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Reply #19 posted 01/03/18 7:24pm

ISaidLifeIsJus
tAGame

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PennyPurple said:

cloveringold85 said:

I saw that one of Prince's last properties is up for sale. I guess his real estate would be considered part of his estate, yes? confused

I wonder who recently lived in that house?

There is a 3 room recording studio in the home.

Larry?

Josh and Hannah?

Trevor and Donna?

Dunno

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Reply #20 posted 01/03/18 7:48pm

SpinsterSister

ISaidLifeIsJustAGame said:

PennyPurple said:

I wonder who recently lived in that house?

There is a 3 room recording studio in the home.

Larry?

Josh and Hannah?

Trevor and Donna?

Dunno

Bria, Josh and Hannah, Morris visited, others

Need me some fuzzy love....and yes, I wear clear heels
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Reply #21 posted 01/03/18 7:56pm

PennyPurple

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ISaidLifeIsJustAGame said:

PennyPurple said:

I wonder who recently lived in that house?

There is a 3 room recording studio in the home.

Larry?

Josh and Hannah?

Trevor and Donna?

Dunno

I just wondered if it was the house that Kirk lived in.

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Reply #22 posted 01/03/18 8:03pm

rogifan

Ooh I’ve walked by that house a number of times when going for long walks. Longacres is a really nice neighborhood. I thought Prince owned a couple homes in that cul-de-sac.
Paisley Park is in your heart
#PrinceForever 💜
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Reply #23 posted 01/03/18 8:04pm

PennyPurple

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rogifan said:

Ooh I’ve walked by that house a number of times when going for long walks. Longacres is a really nice neighborhood. I thought Prince owned a couple homes in that cul-de-sac.

You're so lucky to live that close.

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Reply #24 posted 01/03/18 8:09pm

ISaidLifeIsJus
tAGame

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PennyPurple said:

ISaidLifeIsJustAGame said:

There is a 3 room recording studio in the home.

Larry?

Josh and Hannah?

Trevor and Donna?

Dunno

I just wondered if it was the house that Kirk lived in.

It is not Kirk's house.

Different address.

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Reply #25 posted 01/03/18 8:12pm

Mumio

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SpinsterSister said:

ISaidLifeIsJustAGame said:

There is a 3 room recording studio in the home.

Larry?

Josh and Hannah?

Trevor and Donna?

Dunno

Bria, Josh and Hannah, Morris visited, others


Hey Sis love hug

Welcome to "the org", Mumio…they can have you, but I'll have your love in the end nod
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Reply #26 posted 01/04/18 3:58am

rogifan

PennyPurple said:



rogifan said:


Ooh I’ve walked by that house a number of times when going for long walks. Longacres is a really nice neighborhood. I thought Prince owned a couple homes in that cul-de-sac.

You're so lucky to live that close.


Yeah it’s nice. Except for times like right now where temperatures are below zero. 😂
Paisley Park is in your heart
#PrinceForever 💜
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Reply #27 posted 01/04/18 4:07am

laurarichardso
n

I really question the family for selling properties instead of renting them out. We as a people never seem to understand the power of ownership.
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Reply #28 posted 01/04/18 11:02am

rogifan

laurarichardson said:

I really question the family for selling properties instead of renting them out. We as a people never seem to understand the power of ownership.

More work than it’s worth maintaining these properties. I’m sure someone smarter than any of the heirs determined it didn’t make financial sense to keep these properties.
Paisley Park is in your heart
#PrinceForever 💜
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Reply #29 posted 01/04/18 12:22pm

cloveringold85

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PennyPurple said:

cloveringold85 said:

I saw that one of Prince's last properties is up for sale. I guess his real estate would be considered part of his estate, yes? confused

I wonder who recently lived in that house?

.

I dunno. That sure would be interesting to know. I saw that one room was painted a purple shade and had purple drapes on the window.

"With love, honor, and respect for every living thing in the universe, separation ceases, and we all become one being, singing one song." - Prince Roger Nelson (1958-2016)
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