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He gave two of his three children names befitting royalty, but the question remains whether the family of Michael Jackson – Prince Michael I, 12, daughter Paris, 11, and Prince Michael II (Blanket), 7 – stand to inherit a fortune, or a mountain of unpaid bills from a decade of the pop star living beyond his means.
According to the terms of Jackson’s 2002 will, his three kids and mom, Katherine Jackson, 79, are the only named beneficiaries of the trust he established and to which he left all of his assets. So what’s ahead for the kids? As a source familiar with Jackson’s finances puts it, “If someone hasn’t worked in ten years and continues to spend $100 million a year, they are going to have some financial problems.”