Executors To Give $30 Million To Jackson Heirs

FIRST PUBLISHED: September 13, 2011 9:06 PM EDT LOS ANGELES, Calif. -- The executors of Michael Jacksons estate say they will distribute $30 million to the Jackson Family Trust for the benefit of the singers mother, his two children and charities under the terms of Jacksons will. The executors said in documents filed Tuesday that since Jacksons death in June 2009, the estate has generated more than $310 million, enabling them to pay off dozens of debtor claims and refinance loans at lower interest rates. They also disclosed that Katherine Jackson wants to sell the familys famous compound in Encino and find a new residence for her and the children. The family has been living in a temporary home in Calabasas while the Encino property was being refurbished. A hearing for a judges approval of the plan is set for Sept. 28. Copyright 2011 by Associated Press. All rights reserved.This material may not be published, broadcast, rewritten or redistributed.

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