Loading articles...

Michael Jackson's estate makes sure his children are well taken care of

LOS ANGELES, Calif. – The estate of late pop star Michael Jackson is making sure his children will be well taken care of, while at the same time financially responsible with the money left to them.

TMZ were able to access a copy of the trust left for Jackson’s three children, which lays out exactly how the money will be given out.

Shortly after his death, the media learned that 40 percent of his estate would go to his kids, another 40 to his mother Katherine (until her death, when it will also go to the kids), and the remaining 20 is to go to charity.

What TMZ recently discovered is that the kids will only get an allowance – determined by the trustee – until the age of 30. At that point, they will only have access to a third of the trust, but inherit half of it when they hit 35, and get the remainder of the money at 40.

The amount will grow by a certain amount per month, as executors make business ventures including concerts, movies and song releases.

Latest Traffic & Weather
680 NEWS TRAFFIC @680NEWStraffic 680 News Traffic Twitter verified icon
Updated 16 minutes ago
There's a crash Toronto-Bound QEW approaching the Burlington Skyway, blocking the 3 right lanes.
Latest Traffic
680 NEWS WEATHER @680NEWSweather 
Updated Today at 12:06 PM
Sunglasses Alert: You're going to need them throughout today. It's going to be a beautiful day according to Meteoro…
Latest Weather