Court Filings Indicate that Jackson Estate Will be Solvent

Court documents that were released late on Friday night indicated that the estate of Michael Jackson, once thought to be insolvent, will actually have enough money to avoid that status. Despite what is estimated to be over $400 million in debt, the temporary administrators of the Jackson estate were able to recover over $5 million as well as large amounts of personal property from a former financial advisor to the late singer. The temporary administrators, attorney John Branca and music executive John McClain, are working on various deals that could end up being worth "tens of millions of dollars of revenues," according to the two men.

While Michael’s mother Katherine has custody of his three children at present, it is unknown what will ultimately become of that element of the mess that was left behind after the death of the King of Pop. It has been discovered, however, that the children, Michael Joseph Jr., Paris Michael Katherine and Prince Michael II, as well as Jackson’s mother, will be eligible to receive financial support from the estate.

Branca and McClain are, in fact, working towards making certain that the estate does provide for those four members of Jackson’s family, though the amounts that the temporary administrators hope to have provided have been redacted from the records that were released to the public late on Friday night. It has also been discovered that Michael paid for all of the expenses associated with the Jackson family home in the San Fernando Valley and, while that will continue to be supported through his estate, various members of the family may end up being responsible for some of those copious expenses.