Some celebrities worth more in death than in life

Michael Jackson’s posthumous film "This Is It" is the highest-selling concert film and documentary ever -- earning over 250 million dollars worldwide to date. Meanwhile, the US government and Jackson’s lawyers continue a bitter legal battle over the value of Jackson’s estate and one of its most valuable assets: his image. It begs the question - are iconic celebrities like Michael Jackson, Elvis Presley, Marilyn Monroe or even Bob Marley worth more in death, than in life.

It is said that imitation is the highest form of flattery and in the case of Michael Jackson .. imitation - on film .. on stage - and on wax has catapulted him to the highest earners of all celebrities - both dead and alive.

Ed McCaffery, professor of law, University of Southern California, said, "Many of the times when we have the most dramatic effect is when they do die young. We’ve talked here about Marilyn Monroe, Elvis Presley and now we’re talking Michael Jackson."

Experts say the Jackson estate has earned over $1 billion since his 2008 death -- mainly from music and memorabilia sales publishing deals... his Sony records music catalog 2 hit Las Vegas Cirque Du Soleil shows.

And dvd earnings from top selling concert film "THIS IS IT."

So it’s easy to see how Jackson became the highest earning celebrity last year -the 3rd time in 5 years that the top earning celebrity came from the grave.

But when there’s a lot money to be made says USC Law Professor Ed McCaffery there’s also a lot of money to be paid.

"If you die with assets - stocks, bonds, re, cars, jewellery, art work that’s worth more than $5 million, the government is going to take 40% of the excess over $5 million. In Jackson’s case, he didn’t die with a lot of liquid assets because he was dead broke. His celebrity image - his property rights, he says that it was worth $2,500 the IRS comes in and says it’s worth $540 million," said Ed McCaffery.