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Michael Jackson Estate

Katherine and MJ's Kids to

Score $30 Million

9/13/2011 4:49 PM PDT BY TMZ STAFF

0913_jacksons_kids_getty_EX_2
A huge development in the Michael Jackson Estate case.  The Executors have done so well making money for the Estate since Jackson died, they want to fund the Michael Jackson Trust to the tune of $30 million for the benefit of Katherine Jackson and Michael's 3 kids.

TMZ has obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust.  According to the docs, the Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.

In addition to funding the trust, the Executors are asking the court's permission to sell the longtime family home on Hayvenhurst Avenue in Encino, CA.  According to the docs, Katherine wants to sell the house and, although no price is mentioned, the property was valued at $4,150,000 when Michael died.

The docs say Katherine wants the Estate to purchase another home and she's eying several properties, but we're told the home she really wants is the Calabasas house in which she and the kids are currently living.

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263 COMMENTS

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1.

Rogue Warrior    

Would have never guessed that a career pedophile and drug addict would have been so lucrative!

1085 days ago
2.

Criss    

While I'm glad that his kids are financially secure, I can't help thinking that if it wasn't for Michael, his family would've been financially destitute forty years ago.
Also, keep in mind, if not for Michael, no one would've ever cared about Janet.

1085 days ago
3.

bring back recent posts    

..wow...those lawyers must be making a mint..I believe they receive 1.5% of any revenues they generate..plus ..plus..plus...nice of them too throw some chump change to the people left in the will...lmao..gotta love lawyers..

1085 days ago
5.

firebaby    

wow... a few years ago michael jackson was essentially broke... then he died, and $310 million later.....

1085 days ago
6.

Gsharon 710    

I guess someone is getting too close to the true thieves, and they are running scared. They scored nothing. Clever...bring back stolen money and make questions and investigations stop, while they live the life MJJ planned for his love ones.

1085 days ago
7.

Anna    

The MJ estate continues to prove that they are looking after the best interests of Michael's mother and children. Hats off to Branca/Mcclain!

1085 days ago
8.

K    

So sad Katherine is Selling Hayvenhurst

1085 days ago
9.

No comment    

Of course they need a bigger house so all the leeches can live with Katherine and the kids. Jermaine and Randy's kids have only begun to leech of these kids. It will be a life long issue I bet.

1085 days ago
10.

G     

And this is why I support the MJ estate. They not only make money for MJ's kids and mother but they don't do anything tacky in MJ's name cough tribute concert. Seriously that tribute concert is so lame, please cancel it. The MJ estate should be in charge of the tribute concert they probably could get bigger and better stars you know other than Jamie Foxx lol.

1085 days ago
11.

Ih8Taxes    

Wow, they keep getting richer and richer by doing nothing while the rest of us keep working harder and harder and getting nowhere. It was just reported today that the poverty level is the highest it's been in years and a dead guy keeps puling in the dough. Oh well, I guess I better start beating my kid, teach him how to sing and let him watch kiddie porn.

1085 days ago
12.

What I Think    

I wish they would buy a house in Bahrain. AND STAY THERE!!!

1085 days ago
13.

redgpgtp    

Whether you like it or not mama Katherine and the kids deserves every penny of Michael's estate as was his wishes. I believe she was the one person who truely loved him (unconditionally), not to say his other siblings didn't.

1085 days ago
14.

iFart    

I can't believe Katherine wants to sell Hayvenhurst. I'm really sad to hear that.

Love and miss you forever MJ.

1085 days ago
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

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