Jun 6, 2010
Jackson Kids Individual Trust Funds Worth $33 Million
Michael Jackson established detailed trust fund mandates for the distribution of his wealth in his Last Will and Testament documents, finalized and signed in 2002. Prince, Blanket and Paris have absolutely nothing to worry about financially, and will be left extremely well off. Their individual share of their father’s estate, at this point, is $33 million each, but over time that amount is likely to grow significantly.
The children will each receive an allowance from the fund until the age of 21. At age 30 they will receive one-third of their share, at age 35 one-half, and at age 40 they will have full access to the remainder.
The trust fund is currently worth $300 million. Several court-appointed trustees are managing the fund to ensure that the fortune remains properly invested and continues to increase in value.
Jackson split his estate up between his children, his mother and charity. He left a 40% share to his mother Katherine Jackson, 40% to be divided equally between his children, and the remaining 20% to charity. Katherine’s money will revert back to his children upon her death. His siblings, father and ex-wives were all left out of his will.
Some of the remaining Jackson family members are reportedly hostile about the way the money was allocated. It should be interesting to see how things unfold in the future, particularly if the health of the family matriarch begins to deteriorate. Michael’s mother, and the guardian of his children, recently celebrated her 80th birthday.