Michael Jackson Estate Katherine and MJ's Kids to Score $30 Million

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Online Andrea

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Michael Jackson Estate
Katherine and MJ's Kids to
Score $30 Million

16 minutes ago BY TMZ STAFF



A huge development in the Michael Jackson Estate case.  The Executors have done so well
making money for the Estate since Jackson died, they want to fund the Michael Jackson Trust to the tune of $30 million for the benefit of Katherine Jackson and Michael's 3 kids.

TMZ has obtained court documents in which co-Executors John Branca and John McClain are asking the court's permission to fund the trust.  According to the docs, the Estate generated more than $310 million in gross revenues as of December 31, 2010 -- that's the latest accounting.

In addition to funding the trust, the Executors are asking the court's permission to sell the longtime family home on Hayvenhurst Avenue in Encino, CA.  According to the docs, Katherine wants to sell the house and, although no price is mentioned, the property was valued at $4,150,000 when Michael died.

The docs say Katherine wants the Estate to purchase another home and she's eying several properties, but we're told the home she really wants is the Calabasas house in which she and the kids are currently living.

http://www.tmz.com/2011/09/13/michael-jackson-estate-katherine-jackson-30-million-hayvenhurst-for-sale-selling-buy-new-house-calabasas-the-oaks-prince-paris-blanket-john-branca-john-mcclain-estate/

Online Andrea

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This article has a hyperlink to John McClain's bio.  http://www.tmz.com/person/john-mcclain/


John McClain Biography   

John McClain is one of Interscope Records founding members. He is also a co-executer of the late Michael Jackson's estate. McClain was responsible for launching the career of Michael's sister, Janet Jackson.


   
Whoa, slow down TMZ, I don't know if we can handle that much info on Mr. McClain!  :lol:
 

Offline all4loveandbelieve

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That's why she moved out of the encino house, she wants to sell it. This was all part of a plan... I think this new house will be a start of a new beginning when Michael comes back.. Probably he is there now with the mother and his children.


I'm happy to be alive, I'm happy to be who I am.
Michael Jackson

Offline Tink.I.Am

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this is a big wow! But I knew this day would come. I bet they feel safer att their new home, and they will have lots more space and no extra exwifes living there. Maybe Michael would feel safer at the new house as well. Since it's a gated community, Katherine could get out more and so can the kids.  /cook/
"This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning." – Sir Winston Churchill



Offline GINAFELICIA

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Every time they publish about selling something that belongs to Michael I feel sad.
Michael built that house...now they sell it WTF??
Well...maybe he likes change suspicious//

Offline fordtocarr

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I agree Gina!  It makes me sad too.  Michael made that place the way he wanted it when he was young.  He supported his family financially there.  Just like Neverland, which he made just as he loved and then lost.  Now, another home that we KNOW family will be moved into, aside from just MJ3 and KJ.  It breaks my heart, but Michael must be over it to have them do it.  We feel things that we presume Michael must be feeling, and honestly, he must not be not feeling or it wouldn't be happening.

Offline paula-c

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Well, we will see if it is true every time there is a news of the Jackson or  not happen nothing or happen all the opposite of what was said suspicious//

Offline TheMoonIsDancing

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A house is just a shell.
Neverland, Hayvenhurst do not define the Jacksons.
I hope Katherine and the kids will find happiness in their new home :)
They deserve to feel safe.

Offline TheMoonIsDancing

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This article has a hyperlink to John McClain's bio.  http://www.tmz.com/person/john-mcclain/


John McClain Biography   

John McClain is one of Interscope Records founding members. He is also a co-executer of the late Michael Jackson's estate. McClain was responsible for launching the career of Michael's sister, Janet Jackson.


   
Whoa, slow down TMZ, I don't know if we can handle that much info on Mr. McClain!  :lol:
 

And this his whole biography!!!!!  lolol/ lolol/ lolol/ lolol/
 mj_bad/