At the time of Michael Jackson‘s death in 2009, the singer was $500 million in debt, but court documents reveal that three years later, the estate had generated more than $600 million and his mother Katherine had received $1.3 million in her yearly allowance and a $6 million loan.
In 2012, according to financial records reviewed by Radar, the estate paid $564,301.57 for bodyguards and security for Katherine and her three grandchildren, Prince Michael, Paris and Blanket. (Radar has chosen not to disclose the names of the companies, due to privacy concerns.)
The matriarch of the Jackson family, 83, was paid $1.386 million in allowance from her late son’s estate in 2012 and was also loaned more than $6 million from the estate, which also doled out more than $3 million in allowance to Michael’s three children for education and $10,000 in orthodontics.
The family has been living in a $26,000 rental house in Calabasas, while the Hayvenhurst house continues to be renovated.
The monthly electric bill for the Calabasas mansion is $2,500 and the cost for living (including utilities) in the rental for in 2012 was $418,013.69.
Renovations for the Encino mansion were $154,323.53 in 2012, including a $12,000 home theater renovation project, $3,225 studio repair and pond keeper services for $814.43.
Even though no one was living at the house in 2012, utilities including phone, gas, and electricity totaled $35,842.05. Storage and moving fees for 2012 added up to a whopping $806,872.52.
The co-executors, John Branca and John McClain, under the law in California, are required to submit detailed financial records of the execution of Michael Jackson’s estate while it’s still in probate court.
No comments:
Post a Comment