Michael Jackson’s kids have not received their over $100 million inheritance due to legal complications and significant debts.
Michael Jackson, the King of Pop, passed away in 2009, leaving behind a substantial estate worth over $100 million.
Many people expected that his children would inherit this fortune.
However, despite the large sum, Michael Jackson’s kids never received their inheritance.
The reason behind this has been complex and distressing.
Inheritance issues and estate accumulation after Michael Jackson’s death
After the passing of music legend Michael Jackson in 2009, questions arose about his immense fortune and who would inherit it.
His estate continued to earn a substantial amount of money.
In just three years, it reportedly accumulated over half a billion dollars.
Despite leaving his estate to his family, a prolonged dispute with the IRS over a tax bill has prevented his children from receiving their inheritance.
Why Michael Jackson’s kids never received their over $100M inheritance
Prince, Paris, and Bigi have yet to see any of the money from their father’s estate.
While the estate provides financial support and ensures Michael’s children are well cared for, they cannot access their rightful share of the fortune.
This is due to the unresolved tax issue with the IRS.
In his will, Michael Jackson stated that his assets would be placed in the ‘Michael Jackson Family Trust.’
A portion was earmarked for charity, while the remainder was divided between a trust for his mother, Katherine Jackson, and trusts for his three children.
Notably, Michael Jackson’s father, Joe Jackson, along with his siblings and ex-wives, were excluded from the will.
The will also included a clause warning that contesting it would result in disinheritance.
Despite legal battles over the estate, including Joe Jackson’s attempts to claim a share of the inheritance, the courts have upheld Michael Jackson’s wishes.
The rulings have confirmed the provisions outlined in his will.
“In annual reports provided to the probate court, which are publicly available,
anyone can see that the Estate provides Michael’s mother and children with very substantial amounts of money to support them.
“The Estate has a very cooperative relationship with Michael’s children and whenever they need anything,
the Estate works with them to ensure that they are very well taken care of, just as Michael would have wanted.”
Bigi Jackson’s legal dispute with grandmother over estate funds
Recent reports indicate that Bigi, the youngest of Michael Jackson’s children, is in a legal dispute with his grandmother, Katherine.
The conflict involves the use of estate funds to cover legal expenses.
These expenses are related to a deal for selling part of Michael Jackson’s music catalog.
