According to a will published by Britain’s News of the World, Michael Jackson left each of his three children, Prince (13), Paris (12) and Blanket (8) a whopping $33 million dollars a piece! Under the late King of Pop’s trust, the kids will get 40% of their father’s estate. His mother Katherine Jackson is set to receive another 40% of the estate, and the remaining 20% will be set aside for charities. Papa Joe was left out of the will on purpose.
Meanwhile, the three young Jacksons won’t even be able to see their money until they turn 30, which is when they’ll receive 1/3 of their share outright.
Here’s what’s interesting … that we didn’t know until now. Under the trust, Prince, Paris and Blanket have no control of the money until they are 30 years old … until they turn 30 they just get income — almost like an allowance — determined solely by the trustee. When each of the kids turns 30, the trustees must then give them 1/3 of their share outright. When the kids reach 35, they get 1/2 of their share outright. At age 40, the kids then get what remains of their share — outright.
And even though it’s being said that the kids are set to receive $33 million dollars, that number is expected to grow tremendously over the years as the executors of MJ’s estate secure bankable business ventures including concerts, movies and song releases