Paris Jackson Seeks $600 Million Transfer to Family Trust

The requested money would go to the Michael Jackson Family Trust, not to Paris personally. Her filing says the trust has remained unfunded more than 17 years after the singer died in 2009, despite executors indicating in 2011 that they intended to seek a distribution. Paris argues the estate could transfer roughly $600 million and retain enough to meet outstanding liabilities.

Under the trust’s reported terms, each child receives income from age 21, with principal distributions at 30, 35 and 40. Prince is 29, Paris is 28 and Bigi is 24, so none has reached the age for a principal payout. Paris says funding the trust would allow their father’s instructions to take effect.

The estate says unresolved litigation with the Internal Revenue Service prevents a distribution. Its representatives told TMZ the IRS initially sought about $700 million in taxes and penalties; although the estate won a ruling reducing the figure, the case is still unresolved. They called claims that beneficiary payments were withheld or reduced “a complete fabrication” and said more than $200 million has already been spent or distributed for the children’s benefit. Paris’ representatives argue a partial transfer could have happened earlier and accuse executor John Branca of delaying it.

The dispute comes as the estate faces other challenges from Paris, including questions about compensation and expenses. She is contesting about $109 million in combined compensation sought for Branca, the late John McClain and associated legal services, and wants the management-fee rate lowered from 15% to 10%, according to Rolling Stone. She has also questioned private-jet expenses, about $604,850 in allegedly unexplained costs and financial details for 18 estate-owned companies, TMZ reported.

A judge previously ordered $625,000 in bonuses paid to outside estate lawyers returned, finding the payments insufficiently justified, and required tighter oversight of future bonuses. The judge also praised the executors for turning an estate once close to bankruptcy into a financial powerhouse. Forbes estimates the estate has generated more than $3.5 billion since 2009. A December 4 hearing is set to consider Paris’ request for $600 million—or another amount the judge considers appropriate—to be moved into the trust.