Late legend Michael Jackson 's family is in a financial panic as a recent court filing revealed potential payouts for a pending sex abuse lawsuit and other concerns – on top of previously alleged tax debts to Uncle Sam – that could decimate the King of Pop's estimated $788 million fortune and evaporate the hefty allowances of his heirs, RadarOnline.com can reveal.

The details came to light after peeved Paris Jackson accused lawyers of siphoning dough from her father's estate . She filed a petition in Los Angeles Superior Court demanding a full accounting of legal expenses after spotting alleged "irregular payments" made by John Branca and John McClain, executors of MJ's estate. Article continues below advertisement

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