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Katherine Jackson

Could Lose Millions

In Perks

7/26/2012 1:00 AM PDT BY TMZ STAFF
EXCLUSIVE

0725_katherine_jackson_tmz_composite_getty
The plot to turn Katherine Jackson against the Michael Jackson Estate has backfired in the most ironic of ways ... because the money grab could end up costing Katherine millions in perks.

When Katherine was appointed guardian of Paris, Prince and Blanket, the Executors gave an allowance of $60,000 per month for the care of the children ... that's $720,000 a year.  Less than a year later the judge increased the 60k to 70k, and that would make the yearly take $840,000.

The judge is now in position to strip Katherine of guardianship altogether.  If that happens, the executors will almost certainly petition the court to funnel the money in TJ's direction, since he would be caring for the children.

Katherine never had control of the money for the kids, but she enjoys a lot of the perks the kids get, and that goes away if she loses guardianship.  She would still, of course, retain the allowance she personally receives from the Estate.

Short story ... Randy, Jermaine, Janet and Rebbie set out to turn Katherine against the estate so she could get more money during her lifetime -- money she could dole out to them -- but the plot may have actually screwed Katherine.

When she realizes what hit her, mama's gonna be pissed.

284 COMMENTS

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16.

Oh well    

Too funny, notice anyone sticking up for these thugs just joined here? Come on jacksons , don't be so obvious

818 days ago
17.

Mabel    

I truly believe had MJ died PENNILESS (as in no estate, no further monies EVER) and left his children paupers, his "family" would be fighting over who "had" to take in the children because none of them would want to be bothered. In truth, young Paris is probably correct when she says the #MJFam is her true family.

818 days ago
18.

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818 days ago
19.

Honing    

She just doesn't have the luck does she?
-- honing.isafeelin.org

818 days ago
20.

Honing    

Poor she! Gotta feel for her.

-- honing@isafeelin.org

818 days ago
21.

dyls_E    

she has to wise up if she thinks she is a suitable guardian for those kids. It seems like age has caught up with her and T.J. is the best choice

818 days ago
22.

cindee    

Is Katherine Jackson saying.. Prince Paris and
Blanket and everyone else lying???.
I think the genie is out of the bottle with these
kids and their not going to be bamboozled
by the Jackson Family
I hope the Judge uses good judgement an
put these children in a "Non-Family Guardianship"
The Jacksons will always have issues over the money and PPB shouldn't be exposed to that

818 days ago
23.

Jordan    

Hopefully there is a judge in California and do the right thing and give TJ full gaurdianship of the kids and get the kids away from there lunitic grandmother and her degenerate children.

818 days ago
24.

lisa2    

Yes but you see when Paris, Blanket and Prince grow up they will OWN THE PRINCIPLE IN THE TRUST free and clear AND earn the royalties ... instead of the refinanced debt Katherine et al want them to inherit while they scoop as much as they can.

The executors got paid per deal, per amazing deal they made...but they will never own that trust and if they had wanted to they could have run it into the ground.

818 days ago
25.

lisa2    

Or they could have sold the beatles catalogue to pay off the debt and made a KILLING off that deal and left the kids with nothing of value.

Jermaine, Randy, Janet Michael didn't want you in his business and maybe he set it up like this for a reason.

818 days ago
26.

Kate    

Anyone else paying attention to Twitter in the last hour or so? Marlon Jackson has made a few comments and Paris is saying G'ma still isn't home.

818 days ago
27.

Montclair Grandma    

I agree with the judge who told TJ to apply for permanent guardanship. Katherine left the children without telling them she was leaving. Then she stayed away 10+days without contacting them. She failed in her responsibilities as a guardian. She is 85 and appears to be easily manipulated by her children and husband. It seems like she is no longer able to be a guardian.

818 days ago
28.

Peirre    

When Michael Jackson died on June 25, 2009, many around the world went into shock after hearing this forever tragic news. That was the time for the entire Jackson clan to come together as one to give all of Michael Jackson fans healing by doing his "THIS IS IT TOUR," and you would have been financially well off and respected. The gig is up now, you missed a great opportunity to be part of his legacy in 2009.... No vision...Now you must perish.

818 days ago
29.

miu    

All i read is money,money, money... and money!
These children need a family, sad that you can't buy that!

818 days ago
30.

twinsies    

I'm sure the family will make sure she is financially taken care of for the rest of her life, but I don't think she can physically take care of those children and MJ should have put a provision in his will about who will take care of them in case she is unable to.

818 days ago
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