Katherine Jackson, mother to late pop icon Michael Jackson, is raking in the cash from her son’s estate. Court documents released Thursday showÂ Michael’s mother is receiving over $85,000 a month in payments from the estate for her and her grandchildren. Michael Jackson’s three children were granted an additional $60,000 per month in support.
These monthly allowances for Katherine Jackson and the kids is just the tip of the iceberg. Court documents also show their expenses charged to the estate total hundreds of thousands of dollars.
Although Michael Jackson was notoriously in debt to a number of creditors when he died, the court says the late singer’s estate is worth over $500 million and is currently solvent. Katherine Jackson and Michael Jackson’s three children were named as the primary beneficiaries in his will, along with several unnamed charities.
79-year-old Katherine Jackson was named the official guardian of Michael Jackson’s three children – Paris, Prince and Prince Michael II, also known as Blanket – by Los Angeles Superior Court Judge Mitchell Beckloff after his death.