No further details are provided in the statement issued Wednesday by family spokesman Ken Sunshine.
The public relations firm Sunshine, Sachs & Associates has been retained by the family and says it will announce those plans shortly.
CBS News correspondent Sandra Hughes reports that preparations are under way for something - heavy equipment has been arriving at Neverland over the past two days, leading to speculation that the "King of Pop" would have a private memorial service here.
A request has gone all the way to the governor's office to bury Jackson at Neverland, which is private property. That would require a special waiver of California law, reports Hughes.
There is talk about turning Neverland into a tourist attraction like Graceland, which brings in $35 million dollars a year but officials here are worried, reports Hughes.
"This is horse country. This is cattle country," said Barbara Lanz-Mateo, managing editor of the Santa Ynez Valley Journal. "People like their quiet, their solitude."
Adoring fans and dozens of news crews poured into this bucolic town near Michael Jackson's Neverland Ranch expecting to witness the finale to the story of the King of Pop - only to learn their hasty trips were unnecessary.
A large crowd of mourners set up camp outside Neverland's gates with lawn chairs and coolers of bottled water, while hotel rooms surrounding Jackson's estate sold out within minutes of the first - and eventually, erroneous - reports Tuesday that the pop icon might be buried there.
Residents of Los Olivos, who were plagued by reporters following Jackson's 2003 arrest on child molestation charges, once more had their lives upended by streams of TV vans and fans eager to mark the passing of a pop culture giant.
Also Wednesday, a person with knowledge of the situation told The Associated Press that Jackson would likely be buried in Los Angeles, although the family could have a private memorial at Neverland after Jackson is buried. The source, who was not authorized to speak for the family and requested anonymity, told the AP that nothing is planned at least through Friday.
The property is about 120 miles northwest of Los Angeles.
At once a symbol of Jackson's success and excesses, the estate nestled in the hills of Santa Barbara County's wine country became the site of a makeshift memorial after his death Thursday.
Earlier Wednesday, Jackson's in a Los Angeles court. The singer's estate will go to a confidential trust set aside for Jackson's mother, children and assorted charities.