More Greedy Jackson Family News: Katherine Jackson can't live on $26k per month

[Novice]

Katherine Jackson: Who Can Live on $26K a Month?

9/23/2010 6:30 PM PDT by TMZ Staff
Katherine Jackson can't make it on a $26,000-a-month allowance ... so she's asking for more.



TMZ found a judge's order filed yesterday in the Michael Jackson Estate case, in which the judge notes, "Counsel will give notice of proposed action re: adjustment to family allowance for the benefit of Katherine Jackson."

TMZ has already reported Katherine pulls in a temp allowance of $26,804 a month.

The document does not say how much more Katherine wants, but it's pretty ironic since she's making a lot of money on the side.

And lets not forget that her mortgage is now paid off....


More money news:-
Michael Jackson's Fortune -- That's How He Rolls

9/23/2010 6:00 PM PDT by TMZ Staff
The Jackson family compound where Michael's kids now live with Katherine is worth $4.2 million, according to new docs that list some of MJ's treasures ... like his fleet of Rolls-Royces.



The Jackson Estate just filed a partial inventory of the tangible property MJ left behind when he died. Here's how it breaks down:

- Encino mansion ... $4,150,000
- Encino condo ... $315,000
- Desert Auto, LLC (in CA) ... $676,317
- 1998 Rolls-Royce ... $100,000
- 1990 Rolls-Royce ... $55,000
- 1988 Rolls-Royce ... $40,000
- Several bank accounts ... $444,260

Total: $5,780,577

It's a nice chunk of change, but nothing compared to the real jackpot ... MJ's Sony Music Catalog -- which has been valued as high as $1 billion.

Michael Jackson -- To Pay or Not to Pay

9/23/2010 12:00 PM PDT by TMZ Staff
The Michael Jackson Estate made some interesting calls when it came to creditors -- who got paid, who didn't, and who's still waiting.


The estate made a bunch of decisions on creditors' claims, but four stand out.

-- Dr. Arnold Klein submitted two claims for medical services in the months before Michael Jackson died -- totaling $58,522.89. Pretty ironic, since some people in the Jackson world believe Klein contributed to MJ's death. The estate has taken no action so far -- neither rejecting nor paying the dough.

-- Tom Mesereau, the lawyer who did a remarkable job in Jackson's 2005 molestation trial. Mesereau submitted a claim for $341,452.05. The estate paid the lawyer in full.

-- Kai Chase, the cook who was at Jackson's home the morning he died and the woman who interacted with Dr. Conrad Murray that day, submitted a claim for $8,000. The executors compromised with Chase and settled the claim by making partial payment. This one is interesting because some of MJ's family got pissed off when she made the rounds on TV following his death.

-- Raymone Bain, MJ's longtime publicist and friend who had a mega falling-out with Jackson, had filed two claims totaling $404,000. The estate rejected the claim and Bain sued. The court tossed her case out.

Jackson Executors: How We Turned it Around

9/23/2010 11:45 AM PDT by TMZ Staff
The executors in the Michael Jackson Estate have just filed legal docs explaining how they turned chaos and financial ruin into a booming, postmortem business.



According to the docs, obtained by TMZ, Jackson owed 10's of millions of bucks at the time he died. We've previously reported how the Jackson family was about to lose their home in Encino and Jackson was on the brink of going belly up.

Executors John Branca and John McClain turned things around in a big way, for two primary reasons. First, they restructured all of his debts and got creditors to significantly lower killer interest rates.

Secondly, the executors went full bore to generate revenue -- and the brass ring was the movie, "This Is It." According to the docs, the flick grossed $260,000,000, the most lucrative documentary in history.

As for the album, "This Is It," it sold 5 million copies, making it the 3rd biggest album in 2009.

As for other deals, the executors:

- Republished the "Moonwalk" book
- Made mega-merchandising agreements for all things Jacko
- Distributed a leather-bound, coffee table book on the life of MJ
- Renegotiated MJ's royalty agreements with record label

But there were lots of legal fees that were incurred to make the estate money -- more than $3.8 million since Jacko's death.

The estate also notes what we've already reported -- that they paid off the Jackson family home in Encino, bought Katherine Jackson a car and did lots of other stuff for the family.

All from TMZ.com

[cupcake]

Ever heard of downsizing? Living within your means? Disgusting!!!

[crackho]

Many people live on that much money a year.

[funky_chicken]

^ and many more with LESS than this a year!

[darksithbunny]

They should put her on that show Cut off.

[WhateverLolaWants]

We fed a family of three on that much annually for about two years.

Grow up, Mrs. Jackson

[JadeStar70]

I have a family of 5, and it would take us a few years to make that much money. Fuck you, bitch!!!

[aabbcc]

I live on much less than that per year and I'm paying a mortgage. For a long time, I was also paying a mortgage and feeding two children. She gets zero sympathy from me.

[KandyKorn]

Dead yet?

Greedy bitch

[sluce]

It is all relative to where you life. That is an income of 312k per year. If she declares that as income she is paying about 100 in taxes. That leaves 200k which is still a lot of money but will not go as far in Hollywood as it would elsewhere.

I want to see her monthly budget. Where is the money going. Is paying the property taxes, school tuition, security, etc from that monthly income? If yes, she may be justified. If the estate is covering those expenses then she should explain why the hell she needs that much. Wonder if it is support all the other kids and grandkids.

[TrevMaxwell]

Well of course she can't live on that with all them kids mooching money off of her, cause you know they are, along with that Joe Jackson creature.

And another thing, why the hell was Michael Jackson complaining about "being broke", mother f*cker please.

[*DIVA!]

^^That's what I believe is going on....

I believe that the Estate is paying those expenses. However, I believe that Katherine is being leached off of by her other kids without money and/or jobs. Jermaine and his family is probably the first there when the money is deposited into her account.

So, I don't believe it is greed on her part, but a way to help her other kids live off of MJ's money!!

[Novice]

They're grown ups, they need to get themselves a job & some self respect.

[sluce]

Why? Their parents never did.

[Novice]

Why? Their parents never did.

Yeah, you don't want to hear my opinion on them!