According to TMZ.com, executors for MJ Estate filed legal documents showing that they had generated gross earnings exceeding $475 million at May's end.
The documents revealed that all of Michael's debts when he passed away, have been repaid, with the exception of a huge debt about his publishing catalog.
The final debt is expected to be fully repaid by the end of this year.
Meanwhile, fees for the lawyers from May 2010 up till November 2011 have exceeded $13.6 million.
Michael Jackson was discovered dead in his Los Angeles home in 2009 after he overdosed on Propofol. His personal physician, Doctor Conrad Murray, has been found guilty of involuntary manslaughter and is sentenced to four years in prison.