Executors To Give $30 Million To Jackson Heirs
LOS ANGELES (AP) - The executors of Michael Jackson's estate say they will distribute $30 million to the Jackson Family Trust for the benefit of the singer's mother, his two children and charities
under the terms of Jackson's will.
The executors said in documents filed Tuesday that since Jackson's death in June 2009, the estate has generated more than $310 million, enabling them to pay off dozens of debtor claims and refinance loans at lower interest rates.
They also disclosed that Katherine Jackson wants to sell the family's famous compound in Encino and find a new residence for her and the children.
The family has been living in a temporary home in Calabasas while the Encino property was being refurbished. A hearing for a judge's approval of the plan is set for Sept. 28.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
Most Popular StoriesMost Popular StoriesMore>>
PHILADELPHIA - An online campaign has raised more than $13,000 for a homeless man who used his last $20 to fill up the gas tank of a stranded motorist outside Philadelphia.>>
PHILADELPHIA - An online campaign has raised more than $13,000 for a homeless man who used his last $20 to fill up the gas tank of a stranded motorist outside Philadelphia. The Gofundme.com campaign was started Nov. 10 by 27-year-old Kate McClure after she said she ran out of gas on Interstate-95 and a homeless man named Johnny Bobbitt Jr. offered to walk a few blocks to buy her some.>>