Michael Jackson's children granted annual income of $8 million

Blanket, Paris and Prince Jackson. Photo / Getty Images

Michael Jackson's children have been granted a total annual income of $8 million.

The late King of Pop left behind three children when he died of acute Propofol intoxication in 2009 - 17-year-old Prince, 16-year-old Paris and 12-year-old Blanket - and the court that oversees their welfare has now allocated finances for their living expenses.

The expenses for the youngsters, who live with their grandmother Katherine Jackson and their cousin T.J. Jackson in Los Angeles, California, breakdown as $3 million for their school fees, $300,000 for holidays and $600,000 for a personal security team.

The court has also authorised them to spend a further $200,000 a year from their late father's estate on renting a mansion.

In addition to Paris, Prince and Blanket each receiving $15,000 a month in spending money, their legal guardian, Katherine, also receives $1.2 million a year for looking after them.

The value of the Thriller hitmaker's estate has grown from £3.5 million to £400 million (NZD $784 million) since his death five years ago.

The sums have emerged as the mother of Prince and Paris - Debbie Rowe - seeks to gain custody of her children, as well as Blanket, who was born through a surrogate mother.

The former nurse, who was married to the pop star for three years between 1996 and 1999, claims the children's grandmother is "too old" to raise them.

- Bang! Showbiz