Probate records reveal Michael Jackson's worth
Probate & Estate Administration 21 Feb 2011
Probate records have revealed the amount of money that Michael Jackson's estate has earned since his death.
The deceased singer has brought in £310 million (£190,912,180) from merchandising, album sales and a film since his death in 2009.
When he passed away, he owed $400 million but $159 million of this debt has now been covered by estate administrators using his earnings,
probate solicitors have revealed.
The document revealed: "Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt."
Beneficiaries of the late singer's estate include his mother and three children, Prince Michael, 14, Paris, 12 and Blanket, eight.
In addition, the importance of using good
legal solicitors was shown by a recent case in which Joe Corre, disputed his father's Malcolm McLaren's will.
Mr Corre claimed that Mc McLaren, founder of the Sex Pistols, was not mentally competent enough to make probate decisions before his death.
Published by Phil Hammond