Michael Jackson's Mom and Kids Nab $30 Million Payout

Jackson matriarch and King of Pop's children are in the money with news his estate's about to set up a trust for their benefit

Don't stop till you get enough. For sure.

E! News has learned that Michael Jackson's mother, Katherine, and his three children will receive a whopping $30 million in a trust being established by the executors of the late King of Pop's estate.

Co-executors John Branca and John McClain are asking Los Angeles Superior Court Judge Mitchell Beckloff to sign off on the payments, which would be distributed from the $310 million in gross revenue generated through the end of last year's posthumous releases and other business deals the two arranged after Jackson's death in June 2009. 

Some of the trust's funds would additionally go toward several charities yet to be named.

Per the petition (read it in full here), they are also asking the court's permission to sell the Jackson family's famed Encino, Calif., residence, which was appraised in 2010 at $4.15 million.

The decision to put the compound on the market was made at the behest of the Jackson matriarch, who wants the estate to purchase a replacement home in the $10 million price range for her and 14-year-old Prince, 13-year-old Paris and 9-year-old Michael Joseph Jr. (aka Blanket) to live in. The four are currently living in a leased home in Calabasas.

Branca and McClain meanwhile tell the court that the millions they have made on behalf of the estate through the end of last year have mostly gone toward paying down a lot of the legendary entertainer's debt.

A hearing on the matter is set for Sept. 28, one day after the trial of Jackson's doctor, Conrad Murray, gets under way. Murray is accused of involuntary manslaughter for administering what turned out to be a fatal dose of the powerful anesthetic propofol.