's children and his mom are facing financial difficulties after being blocked from receiving funds from the late singer's trust., are beneficiaries of the King of Pop's trust and his mom, Katherine, 94, is a sole beneficiary of a sub trust.and filed on May 28, neither his children, nor his mother will received financial distributions until the dispute between Michael's estate and the IRS has been resolved.
In 2021, the estate won that battle after disputing the assessments but have since filed a reconsideration - taking into account the court's value of Michael's music catalog, known as Mijac - which is still pending.The value of the estate has therefore not been finalized for tax purposes and the estate and IRS cannot agree on the value of the deduction until then.
While the case has been shrouded in secrecy, it was reported that the deal they were opposing was the sale ofPrince Jackson and brother Blanket celebrated their father's birthday on which he would have been 65 years old Bigi also asked the court that they "use its best judgment" to grant Katherine reasonable attorney fees which have been incurred during the process.
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