Katherine Jackson Receiving No Money?
Michael Jackson's mother Katherine is reportedly planning a memorial concert in order to raise funds to pay off her son's debts.
Michael Jackson's mother has not received any money from her late son's estate.
Katherine Jackson - who has custody of the late 'Thriller' star's three children, Prince Michael, 13, Paris, 12, and eight-year-old Prince Michael II, known as Blanket - is reportedly receiving financial support from her daughter Janet Jackson as the money left to her by the 'Billie Jean' hitmaker is currently being diverted elsewhere by those in charge of his affairs.
A source told gossip blog The Scoop: "Katherine told Oprah Winfrey that she hasn't received a penny from the estate since Michael died.
"What the lawyers for the estate have told her is that they have been busy trying to retire some of Michael's massive debt and they have maintained bills at Hayvenhurst, the Jackson family home and the kids' school."
In an apparent bid to generate funds, The Jackson Family Foundation - which lists Katherine Jackson as vice chairman and her husband Joe as chairman - are to host a tribute concert in memorial of Michael, who died of acute Propofol intoxication in June 2009, next month.
Dubbed a "money grab" by pals, the event faces criticism from the singer's siblings, with sister Rebbie and brother Randy expected to voice their objections.
A preliminary draft of a statement expected to be released by the pair says: "It has been bought to my attention that The Jackson Family Foundation is staging a 'Legacy of the Legend' concert Nov. 13 in Atlanta. That show is being billed as a tribute to my brother, Michael Jackson.
"Reportedly, I and others are scheduled to perform at this concert ... I am in no way associated with this event or the foundation and I wish to make that clear because I do not want to be party to anything that could potentially pose legal or other problems now or in the future."