Michael Jackson executors to give $30m to heirs

Wednesday September 14, 2011

The executors of Michael Jackson's estate have said they will distribute $30 million dollars (£19 million) to the Jackson Family Trust.

Under the terms of the pop megastar's will, Katherine Jackson, his mother, his three children (seen here with their aunt La Toya) and charities, are the beneficiaries.

The executors said in documents filed this week that since his death in June 2009, the estate had generated more than $310 million dollars.

This has enabled them to pay off dozens of debtor claims and refinance loans at lower interest rates.

They also disclosed that his mother wants to sell the family's famous compound in Encino, California, and find a new home for her and the children.

The family has been living in a temporary home in Calabasas while the Encino property was being refurbished.

A hearing for a judge's approval of the plan will be held on September 28.

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