![\"Prince](\"https:\/\/hollywoodlife.com\/wp-content\/uploads\/2024\/05\/jackson-kids-featured.jpg?quality=100&w=384&h=216&crop=1\")
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Michael Jackson<\/a><\/strong>\u2019s family is struggling with financial difficulties as a result of an ongoing dispute between the IRS and his estate, according to court documents obtained by <\/span>People <\/span><\/i><\/a>on Thursday, May 30.<\/span><\/p>\n The \u201cKing of Pop \u201d who died in June 2009 from acute propofol intoxication, left his three kids, Prince<\/strong><\/a>, Paris<\/a><\/strong>, and Bigi Jackson,<\/strong> alongside the late popstar\u2019s mother, Katherine, as beneficiaries. The whole clan have been suspended from receiving his trust fund money.\u00a0<\/span><\/p>\n A \u201ca note of deficiency\u201d was issued toward the estate, which declared it owed \u201c$700 million in taxes\u201d and \u201cundervalued assets.\u201d Reported in the documents, the estate won the battle in court in 2021. Shortly after the successful outcome, the estate filed to reconsider the value of the \u201cBeat It\u201d singer\u2019s music catalog \u2013 known as Mijac \u2013 but remains pending.<\/span><\/p>\n Once the total worth of the estate is revealed, the deduction then would be made. According to the filing,<\/span> \u201c[The Trust] requires that 20 percent of the estate \u2018as valued for federal estate tax purposes\u2019 be distributed to charity before the remaining assets of the estate can be distributed to sub-trusts.\u201d\u00a0<\/span><\/p>\n Though they have no access to that fund, executors are suggesting that the estate provide for the Jackson family through \u201cfamily allowance.\u201d<\/span><\/p>\n ET also obtained<\/span><\/i>\u00a0court documents that state, <\/span>\u201cIt seems clear to [Katherine] that the Executors are holding all of the assets in the Estate in order to keep control over them, and to avoid the more liberal distribution of requirements of the Trust\u2026There can be little question that the Court has jurisdiction to instruct the Executors to pay [Katherine\u2019s] fees from the Estate.\u201d<\/span><\/p>\n Katherine\u2019s bold move to use part of the money from the estate to pay the bills for an undisclosed court battle reportedly led to conflict with the <\/span>Moonwalker\u2019s<\/span><\/i> youngest child, Bigi.\u00a0<\/span><\/p>\n Despite the family facing a downfall in their life at the moment, the eldest son of the singer, Prince noted that his late father is a \u201csupportive\u201d figure to him and his family during an interview with <\/span>Good Morning America<\/span><\/i> in 2017, saying, \u201cI think that he [Michael Jackson] will always be the supporting figure to me and my siblings and support us in all the endeavors we try.\u201d<\/span><\/p>\n<\/p><\/div>\n![\"Prince](\"https:\/\/hollywoodlife.com\/wp-content\/uploads\/2024\/05\/jackson-kids-embed.jpg\")