Atole Blog's

         So the word is that Michael Jackson's mother and children will recieve $30,000,000 from his estate. After all the talk of Michael Jackson being in debt can now desease for awhile due to the recent profit of the estate in which made up to $310,000,000 and still counting. I do not think that there will be a debt problem with Jackson and his mother and children will be set.

     "The Encino property, where Jackson grew up and where several of his siblings lived in a cottage near their parents’ home was appraised at $4.15 million in 2010 but has since undergone extensive renovation.
Katherine and the kids have already moved out. They’re now residing at a leased Calabasas home that is for sale for about $10 million. The executors said Katherine Jackson has identified a number of homes in that price range that would suit her needs and that of the children.
     The executors said the trust and the California attorney general’s office, which is representing charities as beneficiaries of the estate, have been pressing for distribution of funds.
The executors, John Branca and John McClain, filed a detailed accounting of finances since Jackson’s death on June 25, 2009. By the end of last year, the estate had produced more than $310 million in gross revenues. “Since that date, the estate assets have continued to generate additional income,” the executors said.
    Notably, they said they were able to refinance and secure the estate’s interest in the Michael Jackson music catalog, Mijac, and the Sony/ATV publishing catalog, which includes portions of the Beatles catalog.
They said they reduced debt obligations by more than $90 million and refinanced loans at lower interest rates. They also benefited from the release of the posthumous concert film, “This Is It,” and said they were able to pay off dozens of approved creditors’ claims as well as Jackson’s income taxes. Some creditor claims remain open, according to the documents, but the deadline for filing claims against the estate has passed.
    “For a number of reasons, including without limitation, pending litigation and a pending estate tax audit, the estate is not yet in a condition to be closed,” the document said. They listed cash on hand of $90 million.
They indicated that the $30 million was a preliminary distribution to the trust and more would be forthcoming in the future.A hearing for a judge’s approval of the plan is set for Sept. 28." (http://www.eurweb.com/2011/09/jackson-estate-pays-mom-kids-30m-encino-home-on-market/)