The amount of allowance that Michael Jacksonâ€™s children, and mom Katherine Jackson will receive every month, from the pop star’s former estate, was unveiled today. Read more about the story here.
$86,804 dollars is the amount that Katherine Jackson will receive per month while MJâ€™s estate is probated. Special administrators offered her $26,804 monthly, and for the children, the family allowance is set at $60,000 monthly.
According to TMZ.com the docs go on to reveal that:
“The Estate assets consist of real and personal property exceeding $500 million and that the Estate is solvent.”
The allowance, which isnâ€™t set in stone, will keep pouring in until the former Michael Jackson estate is probated. Reports indicate that this could be a matter of years.
The gossip site TMZ also managed to get their hands on Katherineâ€™s monthly expenses. Here are a few of them: Assistant ($4,722), Insurance for her assistant ($475), Maid ($2,080), chauffeur ($2,000), Payroll and Taxes ($1,760), Utilities ($3,260), and Wardrobe ($3,500).
The petition lacks details on exactly how the cash will be spent on MJâ€™s children. Lawyers contended that revealing the names of the staff that help provide care for the kids could compromise their security.
What are your thoughts on Michael Jackson’s mom, Katherine Jackson, receiving $86,804 dollars per month from the estate to take care of her and the children? Let us know in our comment section. Also, you will find pictures and video below.