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.