Michael Jackson Will surfaces: leaves estate to kids, mom and charity

June 30, 10:00 AMGlobal Entertainment ExaminerKristy Stevens-Young

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      Michael Jackson's 2002 will has been found

According to The Associated Press Michael Jackson’s parents, Joseph and Katherine Jackson said in Monday’s court filing that they believed their son had died without a valid will. But the The Wall Street Journal has reported that a 2002 draft of a Michael Jackson’s final testament has surfaced.

In this testament, which was written by lawyer John Branca, Michael Jackson divided his estate among his mother, three children and charity. Jackson’s Mother, Katherine was given temporary custody of his 3 children yesterday, pending a hearing. Jackson's Will gives custody of his three kids to his mother and then to Diana Ross, should his Mother be unable to care for them. There is no mention of Debbie Rowe at all.

If this Will is accepted by the courts as Jackson’s final testament, Branca and music executive John McClain will act as executor. Branca served as Jackson's primary attorney between 1980 and 2006, and had been rehired by Jackson the week before his death.

The Wall Street Journal articles states,”Unwinding Mr. Jackson's estate is likely to be a thorny challenge, given the size and complexity of both the assets and the debts involved. In all, Mr. Jackson died with around $500 million debt, but the value of his assets probably outweigh that, possibly by $200 million or more, according to people familiar with the matter”  A will would certainly help assure that Jackson’s estate is handled according to his wishes.

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