Could Michael Jackson be father of the year? Well after taking a closer look, it could actually turn out to be true when looking the legacy he left behind.
The unfortunate passing of Michael Jackson left a huge question in every one’s minds, what will become of his kids and their future? Well even though MJ was less than perfect in some ways, he is making sure from the grave that his kids won’t make the same mistake. This is the breakdown of his estate according to the trust that governs his estate.
-Katherine Jackson gets 40% to use
-Paris, Prince, and Blanket get 40% of the estate
-Charity gets the remaining 20%
Now this is where it gets interesting. Paris, Prince, and blanket cannot touch their inheritance until age 30. While they are growing up and in their 20’s the allowance they get is determined by the estates trustees. When they do turn 30 they get 1/3 of their share, 35 they get half, and at age 40 they finally get the full control. This ensures they will not waste the money on silly things and get the money when they are grown.
So while MJ didn’t always manage his money the right way…from the grave he is making sure his kids we not make the same mistake.