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| Jackson's leaves songs worth hundreds of millions to kids | |
| Press Trust of India / London July 1, 2009, 11:31 IST | |
Michael Jackson bequeathed some 200 unpublished songs to his three children, to secure their future in case of a bankruptcy and the collection is estimated to be worth more than hundred million dollars.
This secret legacy of the 'King Of Pop' is part of a protected trust fund for his three children Prince Michael, 12, Paris Katherine, 11, and Prince Michael II, 7 and cannot be touched by the creditors to whom he owes the staggering amount of $500 million, reported Daily Mail online.
The newspaper was quoting Ian Halperin, the author of the yet to be released biography of Jackson called 'The Final Years of Michael Jackson'.
"He has as many as 200 unpublished songs that he left behind for his children. They can’t be touched by the creditors, that will ensure his kids a comfortable existence no matter what happens," a source close to the pop icon told Harperlin.
There are reportedly dozens of previously unknown Jackson songs, including a warning about climate change which he was composing two days before he died.
It is also claimed that the singer's 50 per cent stake in Sony/ATV which includes most of Beatles' back catalogue as well as tracks by artistes like Bob Dylan and Neil Diamond has fine print protecting it from his many creditors.
This would ensure any money from the sale of it would go to his three children, making them financially secure for the rest of their lives.
It is expected that Jackson's estate will make more during the next 12 months than he did in the last decade of his life.
Meanwhile, a will drafted by Michael Jackson in 2002 has emerged which divides the singer's estate among his mother, three children and one or more charities, excluding his father Joe Jackson.
The document which has not yet been made public is in custody of his former lawyer John Branca, who reportedly plans to submit it in a Los Angeles Court by Thursday.
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