In Re: The Estate of Michael Jackson – The Final Numbers Are In.

Posted on | May 31, 2010 | No Comments

Who was not provided for? The settlement agreement provides nothing for Michael’s famous siblings or ex-wives Debbie Rowe and Lisa Marie Presley. However, his mother Katherine Jackson, who is legal guardian to the kids (see “How Do I Become a Guardian?”) will receive 40% of the estate, with another 20% going to charity. Michael’s children will receive the final 40% of the share of the estate currently valued at $300 million. The children’s share will not be accessible until they reach the age of 21 (the type of planning you cannot do with merely a simple will) after which they will receive the remaining principle when they reach age 40.

** UPDATE **

Michael Jackson’s father has filed a wrongful death suit against the doctor who is alleged to have negligently caused his death by a lethal set of prescriptions.

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