Paris Jackson seeks $600m trust fund from Michael Jackson's estate

Paris Jackson has asked court to fund her father's family trust, claiming it remains unfunded 17 years after his death

Paris Jackson has petitioned a Los Angeles probate court to order a $600 million distribution from her late father Michael Jackson's estate to the Michael Jackson Family Trust, arguing that the fund remains unfunded more than 17 years after his death.

According to legal documents obtained by TheWrap, Paris claims her father intended for his children, including brothers Prince and Bigi Jackson, to receive income from the trust when they turned 21.

However, she argues that all three siblings have passed that milestone without receiving the intended distributions.

"More than 17 years after his passing, Michael Jackson's family trust remains unfunded," the filing states. It also claims that the estate's executors have yet to present the court with a plan for funding the trust.

Paris's legal team argues that the estate has accumulated substantial cash through business deals and asset sales, including its interest in EMI Music Publishing, Neverland Ranch and an agreement with Sony involving the singer's music and intellectual property.

"Indeed, Paris is informed that, even when potential liabilities are taken into account, the Estate holds approximately $600 million in distributable cash, not to mention any cash that may be held at the entity level," the filing states.

The petition also raises concerns about the timing of future distributions, noting that Michael Jackson intended for his children to begin receiving trust principal when they turned 30. Prince will reach that age in four months, while Paris turns 29 in April and Bigi turns 25 in February.

In response, the Michael Jackson Estate told People that the trusts could not be fully funded until outstanding legal matters were resolved, including a dispute with the Internal Revenue Service over $700 million in taxes and penalties.

The estate said the tax dispute had been significantly reduced but remained unresolved. It also rejected claims that beneficiaries' payments were being withheld or reduced as a "complete fabrication", adding: "None of his children receive a distribution until they are in their 30s."