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It was originally reported that Katherine Jackson will receive 40 percent of son Michael Jackson’s estate with 40 percent going to the late singer’s children and 20 percent going to charity. However, it is ultimately up to the trustees to decide the amount of money to go to the beneficiaries. Regardless of not receiving her whole share from the get go, Katherine has plenty of cash as she’s getting a large allowance at the moment and once the trust is active, she will receive more. Whatever remains in her trust at the time of her death will automatically go to the King of Pop’s kids.

Michael Jackson’s mother is being paid more than $86,000 a month by the late singer’s estate.

The money covers her living expenses and the expenses of the King of Pop’s three children, legal papers filed in Los Angeles Superior Court today reveal.

Katherine Jackson will receive $26,804 a month for her expenses.

In addition she will control an extra $60,000 a month for food, clothing, education and entertainment for the children – sons Michael Jr, 12, and Prince Michael, seven; and daughter Paris, 11.

The estate began paying the allowances last month, retroactive to the singer’s June 25 death. According to a budget for Katherine Jackson, the family matriarch’s monthly expenses include salaries for a housekeeper ($2,080), driver ($2,000), as well as $3,500 for clothing and $1,000 for grooming.

According to the papers, Jackson’s estate is estimated to be worth more than $500million.

Jackson’s father and siblings are not mentioned in the court papers.

The administrators’ lawyers said “no individuals other than the minor children and Mrs Jackson are entitled to a family allowance in this estate”.

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Even though Michael Jackson died with a reportedly $400 million in debt, the late King of Pop is expected to be completely cleared from his debts with the money coming from his estate. The co-executors of the singer’s estate, Michael’s former attorney John Branca and music exec John McClain, say that they are in the process of wrapping up a few deals that will “generate tens of millions of dollars of revenues” for the estate. They have even set the wheels in motion for allowances to be distributed to Michael’s three young children, as well as his mother Katherine. However, Los Angeles judge has decided to wait until the guardianship hearing on August 3 to consider the allowances.