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Beckloff did not acknowledge either of their filings on Monday. He also did not reveal how much Katherine Jackson and the children will receive per month from the singer's estate. Similarly, he did not disclose any terms of a deal reached by concert promoter AEG Live and other groups involved with the King of Pop's planned comeback concerts in London and the singer's estate. Beckloff ordered AEG Live to turn over records related to the settlement and the contract for the 50 shows to Katherine Jackson, but placed restrictions on who else could see the information. The judge has a week to review the settlement and decide whether to approve it. The settlement is another piece of Jackson's finances that is being placed into a private trust set up primarily to provide for his mother and children. The four have a combined 80 percent stake in Jackson's estate, with the rest going to unspecified charities. Howard Weitzman, an attorney for the estate's co-administrators, said the agreements had the potential to earn the Jacksons millions of dollars. Branca, one of the co-administrators, said the deals included Columbia Pictures, which owns rehearsal footage of Jackson's preparations for the concert, and another company that had merchandising rights. Weitzman said co-administrators were "quite pleased" with the rulings. Branca and McClain will remain in charge of Jackson's estate until at least October, Beckloff ruled. The judge will consider a motion by Katherine Jackson's attorneys on whether she can disqualify the men from administering the estate on grounds of their capacity or potential conflicts of interests. Beckloff said he needed more information about the motion, including a copy of the private trust that contains a "no contest" clause stating that anyone who challenges Jackson's will should be disinherited. The judge said he thought the law allowed Katherine Jackson to challenge Branca and McClain based on narrow arguments and scheduled an Aug. 28 hearing on the issue. One of the quickest issues resolved was also one of the most important -- Beckloff admitted Jackson's five-page will drafted in 2002 for probate, a procedure that grants it significant weight. "It means it is the will that has been legally recognized as the will of Michael Jackson for the purposes of the administration of the estate," said probate attorney Michael G. Dave, who is not affiliated with the case. The will was entered without fanfare, objection or any hint of drama.
[Associated
Press;
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