Paris Jackson Seeks 600 Million Dollars From Father's Estate

More than 17 years after Michael Jackson's death, a dispute over his family's inheritance has reached a Los Angeles probate court. His daughter, Paris Jackson, is seeking a $600 million distribution to the Michael Jackson Family Trust, arguing that the estate has sufficient funds to fulfill her father's intended financial arrangements for his children.

In legal documents obtained by TheWrap, Paris argued that the trust was supposed to provide financial benefits to her and her brothers, Prince and Bigi Jackson, beginning when each reached the age of 21.

"income from the Trust on their respective twenty-first birthdays." the filing stated, describing Michael Jackson's intentions for his children.

The petition emphasized that all three siblings had already passed that milestone without the trust receiving its intended funding.

"Those dates have all long passed." the filing stated.

The legal document also highlighted the lengthy delay in establishing the trust, despite previous indications that a distribution was being considered.

"More than 17 years after his passing, Michael Jackson's family trust remains unfunded. In 2011, Executors informed the Court they 'are contemplating and do intend to file a separate Petition for Preliminary Distribution.' Fifteen years later, Michael's beneficiaries are still waiting." the filing stated.

Paris's legal team argued that the estate's financial position had improved through debt restructuring, entertainment investments and asset sales. They maintained that the executors had not presented the court with a concrete funding plan.

"Paris respectfully submits that the Estate's wealth is a testament to the singular talent and incredible work ethic of her father. That said, Executors' contributions to the Estate's liquidity, including the restructuring of debt, certain high-risk entertainment projects, and principally the selling off of assets, have produced considerable amounts of cash. Executors, however, have never presented any plan for funding the Michael Jackson Family Trust to the Court. That needs to change." the legal filing stated.

The petition also raised concerns about how financial distributions to the siblings were handled by the remaining executor.

"lesser amounts dictated by the remaining Executor, who use[d] this power to deter them from checking his abuses." the document alleged.

Another provision of Michael Jackson's estate plan reportedly envisioned additional principal distributions when each child reached the age of 30. Prince is expected to reach that milestone in four months, while Paris turns 29 in April and Bigi turns 25 in February.

"Michael also intended for each sibling to begin receiving outright principal distributions from the Trust on their respective thirtieth birthdays. That milestone is fast approaching. Prince turns 30 in four months, Paris turns 29 in April, and Bigi turns 25 in February." the filing stated.

Paris had previously raised concerns about the unfunded trust in a separate legal document submitted a year earlier. Her attorneys argued that the executor had not taken the necessary steps to address the matter.

"the unfunded trust as an issue a year ago" the filing noted, referring to Paris's earlier legal submission.

The earlier complaint alleged that the executor had failed to make progress on the funding arrangements.

"failed to take action." the document alleged.

To support the requested distribution, Paris's attorneys cited several major financial transactions involving the estate. These included the sale of its interest in EMI Music Publishing, the sale of Neverland Ranch and an agreement with Sony involving Michael Jackson's music and intellectual property assets.

Her legal team estimated that the estate had approximately $600 million available for distribution, even after accounting for potential financial obligations.

"Indeed, Paris is informed that, even when potential liabilities are taken into account, the Estate holds approximately $600 million in distributable cash, not to mention any cash that may be held at the entity level. Any other concerns regarding outstanding liabilities can be handled through appropriate refunding agreements with the trustee and, if needed, the beneficiaries." the filing stated.

Estate Disputes Funding Claims

The Michael Jackson Estate rejected the suggestion that it had deliberately withheld funds from the beneficiaries. In a statement to People, representatives explained that outstanding legal proceedings had prevented the complete funding of the trusts.

One major unresolved matter involves litigation with the Internal Revenue Service, which had sought $700 million in taxes and penalties from the estate.

"The Estate was able to secure a ruling to significantly reduce that amount, but the matter has not been settled and could still change," the Michael Jackson Estate said.

The estate also disputed Paris's allegations concerning the handling of payments to the singer's children, describing the claims as inaccurate.

"complete fabrication," the estate said, rejecting allegations that beneficiaries had experienced withheld or reduced payments.

Representatives further maintained that the estate's distribution arrangements were based on the ages specified in Michael Jackson's plans.

"None of his children receive a distribution until they are in their 30s." the estate stated.