Monthly $86,000 for Katherine and the kids

Judge Mitchell Beckloff had set the amount of a monthly allowance that should go from Michael’s assets to his children and their guardian. In court documents made available to the media on Thursday, the monthly allowance was listed as $86,804.

These documents show that Katherine Jackson, Michael’s mother and guardian of his three children, receives $86,804 per month as her own monthly allowance and for Michael’s children. Twelve-year-old Michael Jr., 11-year-old Paris, and seven-year-old Prince live with their grandmother at the Jackson family home in Encino, in the San Fernando Valley of California.

Of this monthly allowance, $60,000 belongs to the children, and $26,804 is Katherine’s monthly spending money. Katherine’s allowance is used for household day-to-day expenses, transportation, facilities, clothing, and similar matters. Building costs are not included in this allowance because the house is owned by Michael, and building-related expenses are paid directly from Michael’s assets. The judge agreed that, in order to ensure the security and protection of the children’s privacy, the uses of their monthly allowance must remain confidential. Katherine Jackson’s lawyer asked the judge not to disclose the details of this issue.

The judge scheduled a session for October 2 to review the children’s situation after their father’s death.

Source: eMJey / AP