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Michael Jackson's death was just over a year ago on June 25, but since then, his estate has earned an estimated $275 million, according to Forbes ... placing him #1 on their annual Dead Celebs list.

The King of Pop's estate raked in $60 million in advance for the movie This Is It. Deals that included a video game and book earned another $50 million ... and thanks to album sales and excessive radio play, that scored an additional $50 million.

An estate lawyer tells Forbes, "The cash flow on an annual basis is tremendous. Sure, it's going to decline eventually, but it's going to be a huge amount in the foreseeable future. [Jackson's] kids are going to have grandkids before that money's gone."

Since Jackson had nearly $500 million in debt at the time of his death, a large portion of the earnings has been aimed at knocking down that total.

Several projects are in the works which will be bringing in even more millions. A deal with Sony Music, which will include the release of never-before-heard songs, will net close to $250 million for the estate over the next seven years.