Michael Jackson kids are going to be finacially fine!
The late popstar left $33 million each to Prince, 13, Paris, 12, and Blanket, 8. Jackson’s will was recently revealed online by British paper News of the World.
Via trust fund, the orphaned children will eventually have access to 40% of their father’s estate, currently valued at $300 million. (They will be able to dip into their trust funds at age 21, and will have full reign of the fortune at age 40, according to the document.) And the celebrity kids stand to make much, much more, as Jackson’s estate will balloon from future earnings: record and merchandise sales, estate auctions and customary interest.
Jackson died last June at age 50. His mother, Katherine Jackson (legal guardian to the kids), will receive 40% of his estate, with the remaining 20% going to charity, according to the document.
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Very smart to not just hand over all that money at age 18 or 21. That was great thinking on their parts.
I totally agree with Willa.
I’m confused, I thought he was in serious debt when he passed?
Your right, am, I had forgotten all that debt stuff he was going through. Huh. People who owe money and when that’s collected by say, IRS, they go after everything, burial plots, inharidances, homes, ect…. Interesting….