Michael Jackson Family Seeks Trust Fund

Estate wants $30 million for singer's mother and three children

michael jackson beneficiaries trust fund
Jason LaVeris/Film Magic
Michael Jackson's children: Prince, Paris and Blanket Jackson
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The executors of Michael Jackson's estate have requested $30 million for a trust fund designated for the singer's mother, Katherine, and his three children, Prince, Paris and Blanket. The executors, attorney John Branca and music executive John McClain, have also requested permission on behalf of Katherine Jackson to sell their family compound in Encino, California and purchase a new home. A court hearing for the case has been set for September 28th.

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The executors of the Jackson estate have reported over $310 million in gross revenue in the last year from album sales, merchandising, licensing and other revenue streams. The singer had debts of more than $400 million at the time of his death in 2009, but the estate has reported that they have paid down $159 million of that debt.