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...mother Katherine is named as a beneficiary to the trust and guardian of the three children. But they won't see their inheritance, if any, until the debt issues are resolved. "You have to pay your creditors before you can pay your children," says Robert Rasmussen, who teaches contract law at the University of Southern California. "That's Law...

Author: /time Magazine | Title: The Battle Over Michael Jackson's Legacy | 7/2/2009 | See Source »

...sorts of pepper is flying out of the postmortem-Michael rumor mill: that Jackson dermatologist Arnold Klein is the father of two of the children, that Rowe was only the surrogate mother of those kids. Even if any of this is true, says Scott Altman, a law professor at USC, "that's probably going to be irrelevant. In California, a child born during a marriage is strongly presumed to be the child of the husband and the wife. And if Rowe has been visiting pretty regularly - if they think of her as a mother and have an ongoing personal, intimate...

Author: /time Magazine | Title: The Battle Over Michael Jackson's Legacy | 7/2/2009 | See Source »

Under the IBR program, if students are still paying back college loans after 25 years, they will be eligible to have all debt erased (though, if the law stands as is, much of that remaining balance will be taxed as income). And if students go into a public-service career, they are eligible for loan forgiveness after a mere 10 years. While participants in programs such as AmeriCorps, the Peace Corps, the military and other such institutions have long been eligible for loan reduction or forgiveness, this new program expands such mercy to potentially hundreds of thousands more students...

Author: /time Magazine | Title: New College-Loan Plan: Pay Back By What You Earn | 7/2/2009 | See Source »

...conference room, with his gray hair swept across his forehead and his horn-rimmed glasses facing us, he asked each intern a series of questions to test us out, get to know us better. When he asked one girl what she wanted to do after college, she said law school; he affirmed that as a secure path. Another intern said that she really wanted to go into journalism; he asked, “Are you sure?” When a third intern told him she was a literature major at Bard, he said that she’s undoubtedly...

Author: By Bonnie J. Kavoussi | Title: The Manila Folder | 7/1/2009 | See Source »

...return any call or e-mail from states and localities seeking guidance within 24 hours. "It's so important you make sure - don't get mad at me - that there are no water parks, golf courses or anything that doesn't pass not only the test of the law but the smell test," Biden tells the mayors during the conference call. "Because we've got to do this thing really well...

Author: /time Magazine | Title: What Happened to the Stimulus? | 7/1/2009 | See Source »

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