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...realm will be open for inspection and vandalism by any number of interested parties and their lawyers. A will Jackson signed in 2002, made public after his death, leaves his estate to a family trust and nothing to Debbie Rowe, his second wife and the mother of Prince Michael Jackson, 12, and Paris Jackson, 11. A third child, Prince Michael II, 7, was born to an unidentified surrogate mother. The star's 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...

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

...upside is likely to be a reduction in the number of people who default on their student loans, a financial disaster that can destroy credit ratings and hike up interest rates on future loans. "In this economic recession, a lot of students are having a difficult time just paying for normal things like groceries or rent," says Carmen Berkley, president of the U.S. Student Association, an advocacy group. "This is really going to make sure that students are able to keep up with their loans and don't have to default. We want to be able to have good credit...

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

...sociologist Andrew J. Cherlin observes in a landmark new book called The Marriage-Go-Round: The State of Marriage and the Family in America Today, what is significant about contemporary American families, compared with those of other nations, is their combination of "frequent marriage, frequent divorce" and the high number of "short-term co-habiting relationships." Taken together, these forces "create a great turbulence in American family life, a family flux, a coming and going of partners on a scale seen nowhere else. There are more partners in the personal lives of Americans than in the lives of people...

Author: /time Magazine | Title: Is There Hope for the American Marriage? | 7/2/2009 | See Source »

...boxes by the end of the the 1950s, but the instruments didn't become a mandatory feature until 1960, when the Federal Aviation Administration required all commercial planes to carry them. Initial versions contained literal tape recorders and were about the size and shape of a basketball. After a number of black boxes were destroyed in crashes (the tapes melted in fire), they were moved in 1965 from their original position in the landing wells to the rear of the plane - the area most likely to survive an impact. That same year, they were also required to be painted orange...

Author: /time Magazine | Title: Black Boxes | 7/2/2009 | See Source »

...there a solution to California's dilemma? A number of reforms are receiving attention. On the tax and budget side, these include eliminating the need for a two-thirds majority vote on budget and tax matters and instituting a split-roll for property taxes that would allow homeowners to continue to pay according to the low rates mandated by Proposition 13, but require commercial property to be assessed at market value. To relieve the logjam in California politics, momentum is growing for an open primary system, in which the two top vote getters in the primary, regardless of party, would...

Author: /time Magazine | Title: California's Budget Crisis: Is There a Way Out? | 7/2/2009 | See Source »

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