Michael Jackson's Mom Receiving $86K Monthly from King of Pop's Estate
By PopEater Staff Posted Sep 18th 2009 06:12AM
Michael Jackson's mother and the singer's three children are being well taken care of, financially speaking. Court documents released Thursday in Los Angeles show that Katherine Jackson is receiving $86,804 per month from her son's estate to support herself and her three grandchildren, PEOPLE reports. A judge approved the payments last month.The documents state that Katherine, 79, had been financially dependent on her son during his life, and that for years, Michael had paid for all her living expenses at the Jackson family's Encino, Calif., home.
Lawyers for the singer's estate also estimated his total assets exceeds $500 million, and that future business agreements bearing Michael Jackson's name could generate "tens of millions of dollars."
Katherine Jackson has been named permanent guardian of the three grandchildren. All four are primary beneficiaries under the singer's will, including some unnamed charities.
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