The estate of the late pop icon Michael Jackson has reportedly agreed to continue providing a $1 million annual allowance to his mother, Katherine Jackson, despite a dispute over a secret settlement deal.
The agreement was reached following negotiations between the Jackson estate and attorneys for Katherine Jackson, who had been seeking a larger allowance and access to financial records related to Michael Jackson’s estate.
According to sources close to the matter, the dispute centered on a secret settlement deal that Katherine Jackson had reportedly reached with the Jackson estate in 2017. The deal allegedly provided her with a larger allowance and other benefits in exchange for her agreement not to challenge the validity of Michael Jackson’s will.
Katherine Jackson’s attorneys had been seeking to have the settlement agreement nullified, arguing that it had been reached without her full understanding of its implications.
However, the Jackson estate maintained that the settlement was valid and binding, and that it had already provided Katherine Jackson with significant financial support and other benefits.
In a joint statement, the estate and Katherine Jackson’s attorneys said that they had reached a new agreement that would allow the $1 million annual allowance to continue, while also addressing her concerns about financial transparency and oversight.
“We are pleased to have reached a resolution that ensures Mrs. Jackson’s ongoing financial stability, while also addressing her concerns about the administration of Michael Jackson’s estate,” the statement said.
The dispute over the secret settlement deal had been closely watched by fans and observers of Michael Jackson’s legacy, as it raised questions about the handling of his estate and the role of his family in managing his affairs.
Michael Jackson died in 2009 at the age of 50, leaving behind a musical legacy that continues to inspire and captivate audiences around the world. His estate has been the subject of numerous legal battles and controversies, with his family members and other parties vying for control over his assets and intellectual property.
