Michael Jackson has generated over $475 million since death

The executors of Michael Jackson’s estate are on course to pay off  the late singer’s $500 million debt by the end of the year.

The singer’s finances were a mess when he died in June, 2009, and  administrators have been working to make amends for his excessive spending by  generating funds for his three children’s inheritance by striking various  publishing and licensing deals

And their efforts appear to be paying off — by the end of May, the estate  had generated gross earnings of more than $475 million, according to documents  obtained by TMZ.com.

Executors are currently trying to settle a big debt regarding Jackson’s  publishing catalogue, but the funds are reportedly expected to be paid off in  the coming months.

But the work doesn’t come cheap — fees for the estate lawyers from May, 2010  to November, 2011 have mounted up and now exceed $13.6 million.

(source-msn.com)