Prince Jackson attends Premiere Of HBO's 'True Blood' Season 7 And Final Season After Party on June 17, 2014 in Hollywood, California

Prince Jackson attends Premiere Of HBO’s ‘True Blood’ Season 7 And Final Season After Party on June 17, 2014 in Hollywood, California

*Michael Jackson’s son Prince is about to turn 18 in February, and according to Radar Online, his family is dreading the day that he officially becomes able to handle his own money.

“As Prince Jackson gets ready to turn 18 his family is concerned that he is growing up too quickly,” a family insider told the website. “There are also big concerns over his inheritance because he will be an adult with more money than one can even imagine.”

Prince is still dependent on the allowance from his late father’s estate, which remains controlled by a trust that will begin doling out money in increments when Prince turns 21.

But another source said that Prince has been making moves with some of his money and that he will be set to receive those funds on his birthday.

“Prince has his own money that he will gain access to on his birthday–money that was invested properly on his behalf,” the source said.

The family is concerned that Prince “has been distancing himself from his siblings for some time now,” especially Paris, 16.

“Prince is young and arrogant and seemingly already considers himself to be royalty,” the source said, noting that he won’t pay attention to what his grandparents’, his legal guardians, tell him.

“Overall he is a good kid but he is definitely realizing the power he has – especially now that he is about to legally become an adult.”

Radar was later told by a source close to the family that Prince plans to start college next year, although he hasn’t announced where he wants to attend apart from telling jurors last year that he wants to study business and film at USC.

The source said that he is “doing phenomenally well” at Buckley, the private school he attends, making almost complete straight A’s.

Meanwhile, Prince is planning to team up with Justin Bieber for a music project after the pair were introduced by boxer Floyd Mayweather Jr.

“There is a mutual respect between them and it’s an organic collaboration,” a source told The Sun.

“One of Justin’s favorite songs is (Jackson’s hit) ‘The Way You Make Me Feel’ so it’s natural that he wants to make music with Prince.”

The project is believed to be set for a release sometime next year.