Michael Jackson’s will is in the hands of attorney John Branca who will be filing it in court in the near future.

The Wall Street Journal is claiming that the will was constructed in 2002 and leaves the entire $1 billion estate to Jackson’s mother, Katherine Jackson, his children and various charities. No mention of his father, Joe Jackson, who recently made a cold and bizarre appearance at the BET Awards only days after his son’s death.

Michael has mentioned in the past that his father beat him as a child. There was also a lot of emotional abuse there as well. Michael was the one one that Joe liked to single out and cut down.

Too bad that MJ’s mother, Katherine is probably an abused woman as well. So even though the money is hers it will somehow end up in the hands of her controlling, heartless husband. What hell she must be going through.

Joe wears his heart on his face. He always has a scowl, sort of like the Grinch, but icier. They say the eyes are the windows to one’s soul and this is certainly the case with Joe Jackson.

Victoria Gotti is losing her Long Island estate after not paying her mortgage for two years.

The mobster daughter and former reality star owes $650,000 to lender JPMorgan Chase. Court records state that she will lose her home.

Victoria blamed her ex-husband Carmine Agnello saying, “I was awarded full ownership of marital property, and all I inherited was a house with millions of dollars’ worth of debt. This should finally put to rest all the government lies and rumors that I have $200 million buried in my back yard.”

She also claims he took out a loan for $850,000 without her knowledge in 1997 and left her with the bill. Agnello’s lawyers deny the claims.

The home is in dire need of TLC since being featured on the reality show, “Growing Up Gotti.” It was once assessed at $4.2 million and is now being listed on the market for a mere $3.2 million.

The appeals court ruled the bank may start foreclosure proceedings.

“Good riddance,” said one neighbor of Gotti’s, anonymously of course.

[FN]

Hoping to raise money to help him with his dire financial situation, former teen heartthrob Willie Aames held a yard sale at his home in Olathe, Kansas.

Aames’ home is in foreclosure and he had to file for bankruptcy last year. The idea for the garage sale may have come from actress Tori Spelling who had a similar sale at her home in 2006.

Willie’s fans rummaged through antiques, art, furniture, stuffed wildlife and movie memorabilia.

The 48-year-old chatted with fans, signed autographs while being filmed for an upcoming television documentary about his life.

[PM]

Even though Lindsay Lohan hasn’t been working much as of late, the actress is still reportedly spending up a storm.

Lindsay’s cash flow is tight right now so she charges things and spends girlfriend Samantha Ronson’s cash freely.

Among her recent purchases are a $30K Rolex and a new Maserati which is worth about $100K.

A supposed friend of LiLo’s told the NY Daily News, “Lindsay is spending like crazy! She’s living on credit right now. She has no cash. The problem is, the money being spent is mostly Sam’s because Lindsay doesn’t really have any of her own at the moment; she’s really taken on the ‘man’ role in their romance. Sam really thinks Lindsay needs to learn how to become a recessionista and manage her money better.”

Another source agreed. “Lindsay’s money situation has never been great, but it’s only gotten worse over the last month. For every dollar she makes, she spends double. Her personal appearance fees are literally the only thing keeping her afloat. But here’s the rub: Because of her explosive relationship with Sam, she’s unable to get the type of cash she’s used to. The negative press and constant appearance cancellations are hurting her pocketbook.”

Lindsay told Nylon magazine recently that she is seeking employment and is considering modeling. She also claims to have aan upcoming project with Sean Penn.

“I wouldn’t say I feel flush. But I wouldn’t pretend to have less than the most spectacular life. I’m more worried about people who don’t have jobs.”

- John Malkovich on losing a huge chunk of his personal fortune to Wall Street scam artist Bernie Madoff.

[Photograph: ChristianCoigny.com / WENN]

Page Six is reporting that Katie Holmes has spent over $14 million dollars in New York since her arrival six months ago.

The actress, who is living in Manhattan, has been in the city since last July and is starring in the Broadway show, All My Sons.

Katie is often seen out and about in the city, usually toting her daughter Suri along, while shopping at the most expensive stores and dining at the most exclusive restaurants.

Most of the $14 million is due to real estate purchases, including the purchase of not one, but three, new apartments in the same building where the couple currently are residing. (Tom bought the original apartment back in 1985, when Katie was just 6-years-old.)

Holmes has also reportedly spent $14,000 on child care, $7,000 on a home gym, $7,300 on dinners and $17,000 on clothing.

So much for the phrase, ‘The stars are just like us!’

[source]

There have been SO many reports on how much money Guy Ritchie was going to get from Madonna in the divorce settlement, it was hard to know what to believe.

Now another report has emerged, this time confirmed by Madonna’s longtime publicist, that Guy will receive at least $76 million dollars in the settlement.

The agreement also includes the couple’s English country estate - which could bring the total amount close to $100 million. Damn, I would marry that bitch for eight years for $100 million!

No agreement has yet been reached in the custody battle over sons Rocco, 8, and David, 3.