Michael Jackson Will Names Mom, Diana Ross, Family Trust

E! Online

Canada

Breaking News

Michael Jackson Will Names Mom, Diana Ross, Family Trust

Wed., Jul. 1, 2009 9:36 AM PDT by Gina Serpe

Michael Jackson, Paris Jackson, Blanket Jackson, Michael Jackson

nationalphotogroup.com; Justin Sullivan/Getty Images

Michael Jackson's will may be the only thing not full of surprises to surface in the wake of the superstar's death.

Well, maybe just the one.

The five-page, seven-year-old document, signed on July 2, 2002, was filed in Los Angeles court this morning, and bears out the scant details that trickled out yesterday.

Per the will, the King of Pop gave custody of his three children to his mother Katherine, and stipulated that the whole of his estate and all assets—which, as previously reported, hovered around the $567 million mark as recently as 2007; his net worth at the same time was $236.6 million—be placed in the private Michael Jackson Family Trust.

And as for that surprise…

According to the document, Jackson named Diana Ross as his choice for alternate guardian of this three kids in the event his now 80-year-old mother was unable to raise them.

"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 to 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."

It's unclear if the choice is as much news to Ross as the rest of the world or if the star had ever approached her about the responsibility.

If it's the latter, the former Supreme certainly never let on, as the statement she released in the wake of her onetime Wiz costar's death simply said she was, "In prayer for his kids and the family."

Also mentioned in the will is the recently disputed mother of his eldest two children, Deborah Rowe, of whom Jackson wrote: "I have intentionally omitted to provide for my former wife."

According to the will, Jackson's 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."

The potentially binding document was written up by the late star's longtime lawyer John Branca and veteran music exec and family friend John McClain, both of whom were named as the will's executors.

While the will was originally expected to be filed in court yesterday afternoon, it didn't make it to the courthouse until this morning as the Jackson family itself only got hold of the document late Tuesday.

______

Follow us on Twitter @eonline and get our free iPhone app