Jackson Kids Won't Access Trust Fund Until 40th Birthdays

MICHAEL JACKSON left his children a $33 million (£22 million) trust fund each - but they won't be able to gain full control of their fortunes until they are 40 years old.
The Thriller hitmaker set up the Michael Jackson Family Trust fund in 1995, before he welcomed his three children, Prince, 13, Paris, 12, and eight-year-old Blanket.
Jackson signed off the will in 2002 to ensure his children receive 40 per cent of his estate, while his mother Katherine gets another 40 per cent and the last 20 per cent is given to charity.
Despite dying with huge debts and spiralling money woes, the trustees put in charge of Jackson's estate have managed to boost the superstar's fortune to a reported $300 million (£200 million) due to increased interest in the singer.
This means Jackson's three children are all in line for a $33 million (£22 million) private fortune, but will have to be provided allowances from the estate administrators until they are 21.
They will then have to wait until they are 30 to get access to a third of their trust fund, 35 for half, and will finally have full access at 40 years old.
The children's guarantor and grandmother Katherine will get her share up front, and her portion will be split between Prince, Paris and Blanket when she passes away.
The Trust Fund does not include any of the other members of the Jackson clan, according to Britain's News of the World.


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Comments

mjlover4life's picture

mjlover4life

I think it's great the way he set this up in the event of his untimely death. He was such an amazing individual to make sure that there was money to continue to go to charity, in hopes of helping to heal the world. We care Bhodi & you really need to be carefull what you say about both Michael & his children. I already warned you that we want stand for you disrespecting him here. I don't appreciate you saying that it's the children's karma if they make a mess out of their lives. We love Michael & his children & I'm sure we will do everything possible to make sure that the children are protected & live full happy successfull lives. WE DON'T WANT ALL THOSE NEGATIVE COMMENTS HERE! THANK YOU! TAKE YOUR OWN ADVICE FROM THE LAST COMMENT YOU LEFT & LEAVE THE DEAD ALONE AS WELL AS HIS CHILDREN. Go find a psychiatrist to help you with medication as well as intensive therapy to help you with your issues! Get your thoughts together before you return.
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RMQ's picture

RMQ

BODHI, YOU NEED TO GO TO A MENTAL HOSPITAL YOU NEED HELP! FOR REALS!
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chained's picture

chained

Michael possesed wisdom from God. This will protect the children from users and help ensure they don't waste their fortunes. Brilliant. Just like his music.
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adrienne's picture

adrienne

Michael had very good advice from his attorneys. Now if the family can't figure out a way to milk out his kid's money, they'll be fine when they're older. Hope they stay out of the entertainment business, they'll be better off. He was a good soul.
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rhodora's picture

rhodora

good move by mj....by that time kids are all matured nobody could get the money that was given to them by their dad....
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Shell12's picture

Shell12

Just as it should be,he owes nothing to his family,with the exeption of Katherine.
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justice4MJ's picture

justice4MJ

WOW!!! MJ is such a wise and a great father. The kids should be mature enough to spend their inheritance wisely. He is so awesome he even thought about charity such a generous soul. RIP MJ.
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Bodhi's picture

Bodhi

Who cares? Everything comes to an end.If they only get one million dollar they do not have to work one single day in their lives. If they are smart and invest it. And not spend it on all kind of bulls**t stuff like their father did. And they are the children of MJ. Do some talkshow, a talkshow there, a interviuew here , a interviuew there, some photoshoots, and private video's. And they can get all the money they want. The only thing they have to do is to invest it to make more money. Who cares? They will get enough. And if they make a mess out of their lifes it is their karma. I allready feel sorry for them. The presure of being kids of Michael can be to much. Does drugaddiction and being suicidal ring a bell? Despite or because of all the money and fame? Look at all the other Hollywood children. Hopefully they life their lives more spiritualy. I pray for them. But not in the God way like. I just pray for worldpeace in a spiritual way. Not in the Michael Jackson way. Ohm mani padme hum. Ohm mani padme hum. Ohm mani padme hum. Ohm mani padme hum. Ohm tare tutare tare. Ohm tare tutare tare. Ohm tare tutare tare. Siddhi. Siddhi. Siddhi. Siddhi.Ohm shante. Namaste.
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lmiky's picture

lmiky

What more can a good father do than show love and affection,and to secure a very good future for his children.And that is exactly what MICHAEL did,so you could be jelous all you want,it won't change a thing.Love you ANGEL and sleep in peace.
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justice4MJ

Hey Michael Jackson Fans This is important if you really want justice for MJ go to this site and sign these 2petitions one to LA Police Department and DR.MURRAY LICENSES to be provoke. HELP GET MICHAEL JACKSON JUSTICE. THANK YOU.(PetitionOnline.com) P.S. their is one more petition to sign it goes to ABC about Martin Bashir who lied on his documentary about MJ we will not tolerate disgusting lies so we need to take action and sign these petitions (mjtruthnow.com)
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