Michael Jackson’s Estate Spent $6.5 Million On Legal Fees In 12 Months; Another $412k On Security To Protect Late Pop Star’s Family
May 4 2023, Published 5:30 a.m. ET
Michael Jackson’s estate revealed it spent hundreds of thousands to protect the late pop star’s family in a span of 12 months, RadarOnline.com has learned.
The estate, run by executors John Branca and John McClain, submitted an updated financial report in court. The filing, obtained by RadarOnline.com, covered the period of time from January 1, 2019, to December 31, 2019.
During the year, the estate said it paid Michael’s 92-year-old mother Katherine nearly $1 million in an “allowance.” Further, the executors approved the singer’s daughter Paris spending $723k on home construction costs.
The executors have been handling Michael’s estate since his death on June 25, 2009. The beneficiaries of the estate are Michael’s three children, Prince, Paris, and Blanket. However, the legendary entertainer made sure his will provided for his mother for the remainder of her life.
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Branca and McClain take credit for saving the estate from the verge of collapse. The duo said Michael was heavily in debt at the time of his death but their work has turned his estate profitable.
The financial report said the estate has generated gross earnings exceeding two billion dollars. The executors revealed the estate pulled in $70 million in 2019 and had over $700 million worth of assets.
The report said Katherine Jackson was paid $969,432 in allowance payments for 2019 while Paris received $723k for her home. Her brother Prince was paid out $23k for construction on his residence.
In addition, the family spent $412,942.98 on security for Michael’s main home at Hayvenhurst and his former condo. The estate paid a company called Global Entertainment Security for the work.
Another expense was listed as $108k paid to Tito Jackson Jr. for his services as guardianship. Tito was appointed guardianship of Michael’s children after Katherine became sick in 2012.
The estate also listed $692k spent on storage fees and $561k on public relations fees. In addition, $6.5 million was spent on legal fees and associated costs.
As RadarOnline.com first reported, the estate and Katherine are locked in a nasty court battle at the moment over a proposed deal the executors secured.