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New Jackson Docs -- Millions Recovered

7/24/2009 6:50 PM PDT BY TMZ STAFF

Michael JacksonWe've now obtained documents filed yesterday in the Michael Jackson probate case.

The Special Administrators have recovered $5.5 million in cash from a former financial advisor. The documents do not name the advisor.

In the documents, the administrators predict Jackson has enough cash to pay off his estimated $400 million in debts -- and still have money left over for his heirs.

The docs also say Jackson's children are the beneficiaries of an insurance trust established by Michael Jackson. The proceeds have not yet been collected, which explains why lawyers for Katherine Jackson have asked for a temporary allowance.

The Special Administrators expect to generate tens of millions of dollars of revenue from various business deals that are now in the works.



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441 COMMENTS

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31.

m. gertrude solomon    

Keep up the good work, TMZ! We love your updates on the Michael news. We want all the details....Keep giving us more Michael Jackson news!! Thanks!

1915 days ago
32.

Leah    

I'm so sick of all the MJ stories.

1915 days ago
33.

alishalee    

hey new movie coming out Dead Tone in sept 3 in theaters near you check out the website deadtone.com

1915 days ago
34.

oh yaaaaaaaaaaa    

PLEEEEEEEEEEEASSSE allow Britney out of the conservertorship, will b a nice break and work good with the MJ news...Brit out on the lose again, home sweeeet home with the papps!! woohoo

1915 days ago
35.

Alibaba    

2. I hope all the people who tried to ruin him while he was alive are satisfied. The aholes like Sneddon, Diane Dimone, Gloria Allred, etc. have been wanting Mike destroyed for a long time.Someone should sue them for slander, ruin their lives and give all their money to Michael's kids.

Posted at 6:10PM on Jul 24th 2009 by hugh jass

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Anyone that would say on national TV that it is OK and loving to sleep with little boys is going to get investigated! As they should. He should have been found guilty.

1915 days ago
36.

oh yaaaaaaaaaaa    

Hey!!!!!!!!!!!!!!!!!!!!!!!!!!! where is Jon today????????

1915 days ago
37.

Sad    

Michael was bright and no fool in business. He even signed a “no contest” clause to his will just 8 days before he died to make sure that the will should be respected to the fullest. I think it was his health problems that contributed to his deteriorated financial situation.

1915 days ago
38.

Alibaba    

Love you, Michael. A typical father looking out for the well being of his children. :)

Posted at 6:26PM on Jul 24th 2009 by Shamone'

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You'd think a loving father would have done that while alive, rather than being loaded on opiates and anesthesia.

1915 days ago
39.

Unknown    

Wait until Joe gets his claws on that one. He again can play king in las vegas.!!!

1915 days ago
40.

oh yaaaaaaaaaaa    

OMGGGGGGGGGGGGG...I am missing my daily pics of Heidi and Spencer!!!!!!!!

1915 days ago
41.

photos?    


Some say Blanket looks like Miko but look at this picture of Christian Brando.

http://www.scusa.com/family/photos/celebrity_mugshots/picture651.aspx

Both boys look like they could be Brando's.
I think Paris is Debbie and Klien mix for sure.

I wonder if Blanket's mom is Omar's mom. If they were as close as some say, she wouldn't have spoken up and it would explain the picture of Omar holding Blanket.
I don't think Omar is his kid though. She is happily married still and Omar would have been in his Will some way.

1915 days ago
42.

danica    

Hey Troll, get off the site and stop posting stuff in your stupidly way. If you don't want to read about Michael, go to another site.

Have a god day, Troll!

1915 days ago
43.

retardation of society    

can we just kill off the rest of the family and be done with all this crap. he was nothing special just a rich pedophile and his family are a bunch of leaches.

1915 days ago
44.

Andreemyrian    


Anyone that would say on national TV that it is OK and loving to sleep with little boys is going to get investigated! As they should. He should have been found guilty.

Posted at 6:36PM on Jul 24th 2009 by Alibaba

_________________________________________________

You are stupid, you have understand nothing

1915 days ago
45.

Glow    

What the hick ,I also think that any doctor connected should get manslaughter including Klein. He knew more about Michael than Conrad. HOLLYWOOD needs to clean up all those Doctors but if you can a Doc you can buy a cop I'm sure of that.

1915 days ago
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