Fifteen years after the legendary Michael Jackson’s death, new details have emerged about the intricate financial affairs and challenges the executors of his estate faced.

According to a filing submitted to the Los Angeles County Superior Court on June 21, the executors revealed that Jackson had “more than $500 million of debt” at the time of his death at the age of 50.

The court documents further explained that Jackson incurred considerable expense in the preparations for his tour, This Is It and left his estate with a debt of roughly $40 million to the tour’s promoter.

The court documents also highlighted the frequent changes in Jackson’s business management, as the executors had to track down scattered documents across the country after his death. This upheaval, the filing noted, had forced the executors to work tirelessly to eliminate the estate’s debt and “Successfully enhance Michael Jackson’s image and legacy...