Katherine Jackson And Kids Get A Fat AllowanceJosh Loposer
Good news for the Jackson kids and caretaker Katherine Jackson: MJ’s estate has been deemed “solvent” in legal documents released today. Also in those documents, we finally find out how much Jacko’s estate is paying out to MJ’s mom and children — $86,804 per month in total. I think I could live off of that…
According to TMZ, Katherine Jackson is getting a monthly allowance of $26,804, and the kids are forced to try to eek out a living on a budget of $60K per month. That is, until the estate has been properly probated, which could take 2 years.
OK, sure I’m a little jealous, but overall I’m happy that MJ’s estate isn’t as much of a trainwreck as previously reported. At one point, it was reported that Michael was $400M underwater when he died. Now, it appears that his estate is back in the black (thanks partly to the increased record sales).
Of course, that boost in record sales is a mixed blessing for the Jackson family, since it hurts their civil lawsuit.