[/caption]When the King of Pop was alive, there were all kinds of speculation that because of Michael Jackson’s penchant for spending… that he was broke by the time he died. There was even speculation that the reason why he decided to tour was to replenish his depleted bank accounts.
We heard of debtors supposedly lining up to be paid via his lucrative Beatles Catalogue…, which the King of Pop wisely purchased in the eighties. Whatever was the truth about of Michael’s state of solvency is of no consequence now because when the contents of his Trust were recently made public, there was more than enough for his three children and his beloved mother, Catherine.
The debts seem to be paid off… so much so that Catherine, his mother, and each child is reported to receive as much as 33 million. In the Trust, Michael also designated 20% of his estate for his various charities. Perhaps, the rumors were true about the King of Pop not having a good relationship with his father, Joe, and brothers because they were all not provided for in Michael’s Trust.
Knowing the kind hearted mother that Catherine is, she will probably used her take from Michael’s Trust to take care of those of her children who are in need. With good stewardship of the children’s portion, mandated to be doled out to them when each reaches the age of thirty, the King of Pop’s heirs could be wealthy beyond their dreams.
It is speculated that Michael, who had a good rapport with his sister, Janet, had no need to leave anything for her in his Trust because Janet has great wealth of her own.
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