Executors to Give $30 Million to Jackson Heirs

Tuesday, 13 Sep 2011 09:31 PM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

LOS ANGELES — 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 three 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, Calif., 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 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

IRS Faces Torrent of Criticism on Tax Day

Wednesday, 16 Apr 2014 06:59 AM

Republicans and conservatives used April 15, Tax Day, to attack the Internal Revenue Service while some liberals took th . . .

Dress Codes: Where Should Schools Set Limits?

Wednesday, 16 Apr 2014 06:42 AM

They're called leggings - popular tight-fitting pants that seem to be the favorite new target of the school dress code.S . . .

Obama Seeks Inmates Worthy of Commutation Power

Wednesday, 16 Apr 2014 06:41 AM

President Barack Obama is looking for convicts worthy of his rarely used power to commute sentences.Obama has directed t . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved