After Michael Jackson passed away in 2009, his three children, Paris, Bigi, and Prince, inherited his estate. His mother, Katherine, was named the sole beneficiary of a sub-trust in his will.

In 2021, the IRS conducted an audit of the estate’s federal estate tax return, alleging undervaluation of its assets. According to documents obtained by People magazine, the IRS claimed an additional $700 million in taxes and penalties.

The estate contested the IRS assessment and emerged victorious. However, a motion for reconsideration has been filed regarding the valuation of Mijac, Jackson’s music catalog owned by Sony Music.

As the case remains pending, the value of the estate remains undetermined, and a final judgment has yet to be made. Attorneys involved have requested that a portion of Jackson’s estate be kept “subject to administration” for distribution to the Michael Jackson family trust.

However, the executors of the will, John Branca and John McClain, rejected this request. They argued that it was impossible to determine a safe amount for distribution at this time. Additionally, they pointed out that the trust mandates a 20 percent distribution of the estate as valued for federal estate tax purposes to charity before the remaining assets can be distributed to sub-trusts.

To ascertain the charitable contribution, the dispute with the IRS needs resolution. Consequently, Paris, Bigi, and Prince, all in their 20s, cannot access their inheritance until this matter is settled.

Nevertheless, the executors suggested utilizing the family allowance to provide for the three children and Jackson’s mother. Paris, Prince, and Bigi, aged 27, 26, and 21, respectively, share a close bond. Prince emphasized the equality among siblings, stating that there’s no hierarchy based on age but rather mutual support and complementarity.