Since his death in 2009, Micheal Jackson's estate has earned over $600 million..His
latest album debuting at no 2 on the music charts and over 500 performances by a
traveling
Cirque du Soleil show based on his songs have contributed to the income
stream.However, most of the earnings have been used to settle debts and
costs of running his vast estate.
According to a break down by AP,between mid-2009 and the end of 2012,they spent the following...
- Nearly $20 million went to support Jackson's children and his mother, Katherine, in 2012
- More than $91 million on taxes and licenses, including $45 million paid to the federal government for taxes.
- More than $25 million in compensation for the estate's executors,
Jackson's longtime attorney John Branca and family friend and music
executive John McClain. The men receive a percentage of the estate's
earnings.
- More than $17 million to lawyers who represent the estate, Katherine and her grandchildren.
- Nearly $4 million to properly store and archive the trove of personal belongings and unreleased music that Jackson amassed during his lifetime.
Katherine's attorney, Perry Sanders Jr.said
"This is a complex estate with unique issues,"Under all the circumstances, Mrs. Jackson and the children are certainly being well cared for."
However,his children Prince, 17; Paris, 16; and Blanket, 12,will receive inheritance when they reach adulthood
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