According to legal documents made public on September 17th, Michael Jackson’s kids get a monthly allowance of $60,000. Katherine Jackson, the kid’s legal guardian, gets $26,804 a month. That’s a total of 86,000 in monthly allowance.
It appears, however, that a big chunk of Katherine and the kid’s allowances go toward expenses. The children, for example, pay $14,600 a month for salaries and payroll taxes to caretakers. In addition, the three Jackson children receive $13,260 for their entertainment and related expenses. Katherine’s biggest expense is her assistant who gets a reported $4,722 out of the $26,804.
So far, Michael Jackson’s estate is worth more than 500 million and is growing. Katherine and the kids will continue to get their allowances until the estate is probated, which could take between one and two years.
In other related news, Paris, Michael I, and Michael II a.k.a blanket were treated to a private screening of Captain EO last Thursday. Captain EO is a 3-D film which starred their late dad. The kids, who were accompanied by their uncle Jackie Jackson, “loved” the 17-minute film.