The late Michael Jackson's mother Katherine has reportedly filed legal papers seeking to control her son’s estate.
According to Page Six, court documents filed on Friday showed that Katherine Jackson, 86, is ignoring a mandate in the singer's will that could disqualify her from receiving any further cash from his $1 billion estate.
But it's Michael's siblings whom she wants to be financially secure, sources told Page Six.
Katherine wrote in court papers filed late Friday, "Although I am a principal beneficiary of the Michael Jackson Family Trust, I was not informed by the executors of a letter regarding others’ claims for ownership of the Trust; nor did the executors keep me informed on the progress of the estate of Jackson."
While she acknowledged her 10 percent ownership in her late son’s company, Katherine is seeking the full ownership she said Michael promised her years ago, according to the report.
As Radar readers know, the IRS is involved in a tax trial in Los Angeles against Michael’s estate, with the agency demanding back cash in back taxes and penalties.
It means that the late singer's children are facing a $700 million tax bill that could reportedly wipe out much of their inheritance.
The Sunday Express has calculated that the late singer’s kids, daughter Paris, 18, and sons Prince, 20, and Blanket, 14, could lose $700 million--more than half their inheritance--in the legal battle with the Internal Revenue Service.
A banker testified at the IRS trial that Michael, who died at age 50 in 2009, was close to bankruptcy when he passed away.
But the IRS insists Michael's estate is worth much more and some experts think it could be $1 billion.
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