Michael Jackson’s Family Blocked From Trust Fund
Source: Mark Reinstein / Getty
The King of Pop’s children and Jackson’s mother, Katherine have not received any money amid a three-year dispute between the IRS and the late singer’s estate. Reportedly, Jackson estate co-executors John Branca and John McClain rejected a bid by the beneficiaries to have some funds released, with the executors blaming it on the ongoing audit by the IRS. Back in 2021, the IRS issued a note of deficiency, claiming that the Jackson estate “undervalued its assets” and owed “an additional $700 million in taxes and penalties.” The situation has been exacerbated by legal in-fighting between 93-year-old Katherine Jackson and Michael’s youngest son, Bigi “Blanket” Jackson.
