June 1, 2010

Jackson's kids get $33M each

Despite reports that their father died broke nearly a year ago, Michael Jackson's three children won't have money issues to worry about. 

The late King of Pop left $33 million to each of his kids -- Prince, 13, Paris, 12, and Blanket, 8 -- according to a will published by Britain's News of the World.

The legal docs state that the MJ 3 will eventually have access to 40% of their father's estate via trust funds. They'll be able to make partial withdrawals when they reach age 21 and will have full control of their fortunes when they hit 40.

And that's just where it stands today: The Jackson estate is expected to explode thanks to interest and future earnings that include record and merchandise sales.

MJ, who died last June at the age of 50, also listed his mother (and legal guardian to his kids) Katherine Jackson in the will, giving her a 40% share of his estate. The remaining 20% is designated for charities, according to the document published by News of the World.

Cut out of the will? Papa Joe Jackson, MJ's famous sibs and ex-wives Debbie Rowe and Lisa Marie Presley.