Search
latest music news
Michael Jackson left 40% of his estate to his kids

The first details of Michael Jackson's trust have been unveiled, with early reports claiming he left almost half of his assets to his three children.
12-year-old Prince Michael, 11-year-old Paris and seven-year-old Prince Michael II 'Blanket' will share 40% of the late King of Pop's estate, working out at an estimated $82m (£50m) each.
A further 40% of Jackson's estimated $618m (£378m) fortune, mostly consisting of royalty rights, will go to his mother, Katherine. Mrs Jackson currently has temporary control of her late son's estate, as well as guardianship of his children.
Several unspecified children's charities also stand to benefit from around $120m (£73m) from Jackson, although the distribution of those assets has not been designated.
A hearing regarding the division of assets will take place on Monday (6 July) in Los Angeles.
It has been alleged that Debbie Rowe, biological mother to Jackson's three children, is currently contemplating a fight for custody.
Rowe has relinquished her legal parental rights in court twice before. In a hearing in 2001, she said: "These are his children. I had the children for him.
"They wouldn't be on this planet if it wasn't for my love for him. I did it for him to become a father, not for me to become a mother. You earn the title parent. I have done absolutely nothing to earn that title."






comments: 2