By Jen Heger - Breaking Celebrity News Assistant Managing Editor

Michael Jackson's siblings, Janet, Jermaine and Randy Jackson, have hired a lawyer to explore their legal options regarding fighting to overthrow the executors of their late brother's estate, Breaking Celebrity News is exclusively reporting.

Since Jackson's 2009 death -- when he was nearly $500 million dollars in debt -- the executors have earned a whopping $475 million, nearly getting the number out of the red. John Branca and John McClain negotiated a lucrative deal with Pepsi to celebrate the 25th anniversary of the late singer's Bad album, as well as striking a pact with Cirque du Soleil for a Jackson-themed tour.

"The Jackson siblings are discussing taking legal action against the executors of the estate and to become Katherine Jackson's conservator. Janet, Jermaine and Randy feel that they have been left out of all decision making when it comes to Michael, and they want to financially benefit from his estate as well. Janet is also discussing the possibility of petitioning to become Michael's kid's temporary guardian," a source close the situation tells Breaking Celebrity News.

However, the Jackson siblings' attempt to have the executors tossed will go nowhere because the statute of limitations to contest the will has expired.

"Katherine actually dropped her contesting of the will at the behest of these same children who got her to fire Burt Levitch, a lawyer who was challenging the will and hire Adam Streisand, a lawyer who immediately withdrew the objections and let all time delays run. These are the very same kids, along with Janet, who signed a letter recently criticizing advisors and her current counsel, Perry Sanders, for NOT challenging the will. They themselves were responsible for dropping the prior challenge and letting crucial deadlines run long before Sanders was hired. Not only do they refuse to take responsibility for having the initial challenge dropped, they now want to rewrite history and