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Michael Jackson estate makes $30M payment to mother, kids

In this Nov. 8, 2007 file photo, pop star Michael Jackson poses on the red carpet. (Danny Moloshok)

September 14, 2011 12:00:00 AM PDT
Michael Jackson's family trust is about to get a big influx of cash.

The executors of his estate said they will distribute $30 million to the trust to benefit the late pop star's mother, his three children and unnamed charities under the terms of Jackson's will.

In documents filed Tuesday, the executors said the estate has generated more than $310 million since Jackson's death in June of 2009.

They said that's also enabled them to pay off $90 million in debts.

Executors also disclosed that Jackson's mother, Katherine, is putting the family's fabled Encino compound up for sale and wants the executors to negotiate the purchase of a new residence for her and the children, Paris, Prince and Michael Joseph Jr., known as Blanket.

Jackson died of an overdose of the drug he was using for sleep.

The Associated Press contributed to this report.