Paris Jackson seeks $600 million from father's estate for family trust
The daughter of Michael Jackson has filed a petition in Los Angeles to move funds into a trust for his three children.
Paris Jackson has requested a Los Angeles County Superior Court to transfer $600 million from the estate of Michael Jackson into a family trust, according to a report by the Times of India.
The 28-year-old daughter claims the trust, intended for her and her two brothers, has not been funded despite the estate earning billions through property sales and music deals.
The petition states that the children have not received the distributions planned by the estate, leaving them dependent on discretionary payments from the remaining executor, John Branca.
Estate executors have rejected the claim, calling the allegation of withholding money a "complete fabrication" and stating that over $200 million has already been distributed.
The executors argued that unresolved legal matters, specifically a dispute with the Internal Revenue Service (IRS), prevent the full funding of the trusts.
While the IRS initially sought about $700 million in taxes and penalties, the estate noted a ruling reduced that amount, though the final liability remains unsettled.
A judge is scheduled to hear the request on December 4 to determine if a partial transfer to the trust is justified.