Michael Jacksons’ estate provides remarkable provision for dependants in death than when he was alive
Marking Michael Jackson’s 60th birthday this week, new court papers showed that his estate has made extraordinary recovery after he died.
Jackson now earns more money in death than he did when he was alive, after stacking up a huge £57 million in 12 months.
Following his death, the legendary ‘King of Pop’ had debts and creditor claims amounting to £388 million but his estate has recouped all monies and flourished.
It was reported that more than half of the estate’s earnings covered Jackson’s debilitating debts and long-term legal battles, but it seems money worries have been eradicated and is now financially secure.
Just months before Jackson died of an overdose at the age of 50 he stated they were living like ‘vagabonds’.
This staggering turnaround means that Michael’s children Paris, 20, Prince, 21, and Blanket, 16 will now be well looked after and have no money worries for the rest of their lives which was a stark contrast to the last three years before his death in 2009.
MJ’s fortunes were presented in the Los Angeles’ court filing by the executors including his close friends Branca and McClain.
The lengthy document revealed in detail some of the estate spending which included an extravagant home in Calabasas for the children, $60,000 for a year of private schooling – and $28,500 in spending money for numerous holidays that year.