MICHAEL JACKSON ESTATE Katherine and MJ's Kids to GAIN $30 Million
MICHAEL JACKSON ESTATE Katherine and MJ's Kids to GAIN $30 Million
September 14, 2011Gossipwelove
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.
The Media obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust. The Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.
The Media obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust. 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 papers, Katherine wants to sell the house and, although no price is mentioned, the property was valued at $4,150,000 when Michael died.
The documents states Katherine wants the Estate to purchase another home and she's looking at 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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