Posts tagged trust
Cash. That’s what it boils down to for Oksana Grigorieva in her ongoing crusade against Mel Gibson, which is ostensibly about custody of their daughter, Lucia.
The real fight between Oksana and Mel most likely stems from a legal document created before Lucia was even born one year ago, according to a TMZ report.
The Icon Trust, created by Mel and wife Robyn Gibson to provide for their seven children, defines the children as ones born from Mel Gibson or Robyn Gibson.
GETTING HERS: Oksana’s apparently determined to.
When the trust was drafted, no one thought Mel or Robyn, married for nearlyMore >
For all that’s been written of Michael Jackson’s questionable financial decisions, it looks like he learned his lesson – and didn’t want his kids to repeat his mistakes.
He left a fortune to Prince, Paris and Blanket, but with long, long list of strings attached. Under the trust he left for them, the kids get 40 percent of MJ’s estate.
His mother, Katherine Jackson, gets the use of 40 percent during her lifetime (when she dies, the remainder goes to the kids), and 20 percent goes to charity.
The kids’ 40-plus percent isn’t going to be seen for decades, though.
Prince, Paris and BlanketMore >