The executors of Michael Jackson’s estate will actually be able to pay off his $500 million debt by the end of the year. MJ’s finances were a mess when he died in 2009. Since then, his people have been working to make fix his excessive spending by signing publishing and licensing deals and it seems to be paying off.
By the end of May, the estate had made more than $475 million. As of now, executors are trying to settle a big debt regarding Michael’s publishing catalogue, but that’s expected to be taken care of in the coming months. By the way, the estate lawyers aren’t cheap either. From May, 2010 to November, 2011, they’ve charged over $13 million in fees.