Wednesday, July 1, 2009

Details of Michael Jackson's Will

While there were reports Michael Jackson died without a will, one - which was written in 2002 - has surfaced.

- Michael left all of his assets to the Michael Jackson Family Trust

- He named his mother Katherine as guardian of his children - Prince, 12, Paris, 11, and Blanket, 7.

- Attorney John Branca and music executive John McClain are named as executors of the will

- No charities are named as beneficiaries

- Joe Jackson was not specifically left out of the will

The will, filed in court this morning, read: "I have intentionally omitted to provide for my former wife, Deborah Jean Rowe Jackson."

If Katherine is unable to take care of this three kids, he designated Diana Ross as guardian.

"If any of my children are minors at the time of my death, I nominate my mother, Katherine Jackson as guardian of the persons and estates of such minor children. If Katherine Jackson fails tot survive me, or is unable or unwilling to act as guardian, I nominate Diana Ross as guardian of the persons and estates of such minor children," reads the will.

Alongside the will, a petition was filed, stating that Michael's estate is worth a total of $500 million. According to the document, the estate "consists of non-cash, non-liquid assets, including primarily an interest in a catalog of music royalty rights which is currently being administered by Sony-ATV, and interests in various entities."

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