Michael Jackson's mother wants increase in $26000 monthly allowance
Michael Jackson's mother Katherine Jackson has asked the court to increase her monthly allowance of $26,000. Jackson's mother appears to have difficulty living within the allowance she receives from her son Michael Jackson's estate.
TMZ reported that a judge order filed last week in the Michael Jackson Estate case where the judge noted that "Counsel will give notice of proposed action re: adjustment to family allowance for the benefit of Katherine Jackson."
Michael Jackson's mother receives $26,804 a month as temporary allowance. However, details on how much the increase she was asking for remains unavailable. But Jackson's move might be justified since Michael Jackson's estate finances had improved, as previously reported.
TMZ says executors John Branca and John McClain had done a good job in improving the finances of the pop star's estate for two primary reasons:
First, the executors restructured all of his debts and got creditors to significantly lower their interest rates.
Secondly, the executors succeeded in generating revenue.
"This Is It" grossed $260,000,000, the most lucrative documentary in history. The album "This Is It" sold 5 million copies, the 3rd biggest album in 2009. The executors also made other deals for the pop star's estate: (1) republication of the "Moonwalk" book; (2) merchandising agreements; (3) distribution of a coffee table book on the life of Michael Jackson; and, (3) renegotiated Michael Jackson's royalty agreements with record label.