Jackson Will Includes Diana Ross, Not Ex

Pop Star Names Mother As Trustee For Kids And Taps Ross To Succeed Her; No Provision For Former Wife Debbie Rowe

(CBS/AP)  Michael Jackson's 7-year-old will was filed Wednesday in a Los Angeles court, giving his entire estate to a family trust while making his mother the guardian of his children and cutting out his former wife Debbie Rowe.

Court documents estimated the current value of his estate at more than $500 million.

It names his mother, Katherine Jackson, as a beneficiary of the trust and the guardian of Jackson's children, who are also named as beneficiaries of the trust.

It also names entertainer Diana Ross as a successor guardian for the children and their estates if something happens to Katherine Jackson.

CBS News consultant J. Randy Taraborelli, a Jackson biographer, said on "The Early Show" Thursday that Ross is an excellent mother.

"We have never heard one single scandal about Diana Ross's children," he said.

Ross introduced the Jackson 5 on the Ed Sullivan Show in the late 1960s and was instrumental in launching their career. She was a lifelong friend of Michael Jackson.

"When he first moved to Los Angeles, he moved into Diana Ross' mansion and lived with her and she helped raise Michael Jackson," said Taraborelli.

Jackson's longtime lawyer John Branca and John McClain, a music executive and a family friend, are named in the will as co-executors.

Branca negotiated many of Jackson's best business deals in the 80's, including his purchase of a song catalog now worth hundreds of millions of dollars, reports CBS News correspondent Ben Tracy. He reportedly was rehired by Jackson just days before his death.

Read the contents of Michael Jackson's will (.pdf)

In a statement, Branca and McClain said: "The most important element of Michael's will is his unwavering desire that his mother, Katherine, become the legal guardian for his three children. As we work to carry out Michael's instructions to safeguard both the future of his children as well as the remarkable legacy he left us as an artist we ask that all matters involving his estate be handled with the dignity and the respect that Michael and his family deserve."

The executors moved quickly to take control of all of Michael Jackson's property, going to court Wednesday to challenge a previous ruling by the judge that gave Katherine Jackson control of 2,000 items from Neverland.

Superior Court Judge Mitchell Beckloff said Katherine Jackson will retain authority over the items until another hearing set for Monday.

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Complete coverage of Jackson's death

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Beckloff urged attorneys from both sides to try to reach a compromise soon.

"I would like the family to sit down try to make this work that we don't have a difficult time in court," the judge said.

An effort to bury Michael Jackson at Neverland Ranch fizzled, and it appears more likely a funeral and burial will take place in Los Angeles, a person familiar with the situation told The Associated Press. The family has the final say.

Authorities in Santa Barbara County had been preparing for tens of thousands of fans to descend on the 2,500-acre ranch after media reports said a public viewing would take place later this week.

But the person, who is not authorized to speak for the family and requested anonymity, said nothing was planned for Neverland, at least through Friday.

A private memorial service for family and friends could take place at the ranch, most likely after the funeral.

The will, dated July 7, 2002, gives the entire estate to the Michael Jackson Family Trust. Details of the trust will not be made public.

California's attorney general, who oversees charitable donations from estates, is also named as a person who must be notified. It suggests some of the trust's proceeds could go to charity, although which ones might benefit was not clear.

The documents said Jackson's estate consisted almost entirely 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 the interests of various entities."

One of Jackson's most lucrative assets is his stake in the massive Sony-ATV Music Publishing Catalog, which includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers, and is estimated to be worth as much as $2 billion. The five-page will is signed by Jackson, and each paragraph includes Jackson's scrawling initials.

Jackson, who died June 25 at age 50, left behind three children: son Michael Joseph Jr., known as Prince Michael, 12; daughter Paris Michael Katherine, 11; and son Prince Michael II, 7. Rowe was the mother of the two oldest children; the youngest was born to a surrogate mother, who has never been identified.

Katherine Jackson was granted temporary guardianship Monday of Jackson's three children. A judge held off on requests to control the children's estates.

Jackson was at odds with Rowe over custody of their kids at the time he signed the will. She was intentionally omitted from the will, according to Jackson's wishes.

"That is a big surprise, and I think it's going to be a terrible blow to her," Taraborelli said.

Rowe gave up parental rights for a multi-million dollar settlement, reports Tracy.

But according to attorney and former prosecutor Jack Ford, anchor of "Courtside" on the In Session Channel, leaving Rowe out isn't an insult, and shouldn't come as a surprise.

"It's not saying, I'm gonna rub her nose in this, you're not part of the package at all," Ford said. "Essentially, she had given up on their marriage. It was dissolved. They had resolved their property distribution, they also had resolved the custody issues."

Ford said the will indicates the lawyer was being careful by saying Rowe isn't going to be part of the family and shouldn't be entitled to any part of the estate.

But "Early Show" co-anchor Maggie Rodriguez said Rowe may contest the will because it's dated back to 2002.

Ford said the only way Rowe could challenge the will would be if she began questioning the custody of her biological children.

"The biological parent always has an advantage, but it's not a slamdunk," Ford said. "(The court) always looks at what's in the best interests of the child, but she could come into play for custody, but not getting part of the estate."

Neither Rowe nor her attorneys have indicated whether she intends to seek custody of the two oldest children.

[Sky017]

"One of Jackson's most lucrative assets is his stake in the massive Sony-ATV Music Publishing Catalog, which includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers, and is estimated to be worth as much as $2 billion."

Well, well, well... for how many years the tabloids, and some legitimate news agencies were telling us that the guy was broke? And that he was about to lose his Neverland ranch?

This just goes to show that it was just bad press and it was a feeding-frenzy for anything Michael Jackson, particularly negative stories.

Man... so many bad and negative RUMORS about this guy!

So now we know he was not broke... nor in deep doo-doo financially. Most likely his financial situation looked worse than it was in order to pay less taxes. This is commonly done by corporations and individuals and there is nothing illegal about this professional Accounting tactic.

And he didn't just bleach his skin to make himself white, as the media would have us believe. See the true story about his skin here:

youtube.com/watch?v=15TSEKXXIvI

I wish the media will run stories to CORRECT all the false stuff they spewed about him for years and years. It is the right and decent thing to do.

RIP Michael Jackson.

[hln051305]

I heard the news also say he didn't adopt the kids. I feel that if that's a big issue then the money should all go to his family. This is a big mess and the news media needs to let the story die. I say let Michael rest in peace and leave the kids out of this crap!!!!!!!!!!!!!!!!!!!

[hln051305]

I'm sorry but if they are trying to take the kids he raised as his own all these years, no money will follow them. I felt that the kids should go to his family and anyone else getting to raise them should pay the cost to be greedy. I say that a child is a blessing and in no way would I have done it this way. I'm sorry!!!!!!!!!!!!!!!!!!!

[saturn05]

I don't Debbie Rowe will be a problem. She has officially said she was nothing more than a vessel for the kids. As far as Jackson not being the father, who cares. His name is on the birth certificates and he has raised them. Rowe didn't even have custody and it sounds like she accepted that she was not to be a part of their lives. So why would there even be a question of who is the parent...MJ was and is the parent. Now let his mother take care of them and/or make arragements for their future. I think she can be trusted and I think Joe will not see a penny of anything. He is a total scum. As far as Michael's fortune, or what is left of it, should be left in trust for the kids with his mom in charge. Bottom line is that it has nothig to do with us and I hope the courts take cafre of this without getting sidetracked by crap. The media also needs to stop the speculation, they fuel the fire of the crap.

[respect4mj]

To all of you who have posted negative comments about Michael, I would like to say this: Although it is true that we live in a country where people have freedom of speech and other rights, it is not always necessary to exercise those rights. If you did not like Michael, fine. But it shows a certain callousness and rudeness to post your negative comments. Would it kill you to just remain silent on the issue of Michael and/or his family? No. If your mother or someone that you loved passed away and I hated them, would it be O.K. for me to say, right in front of you, "I think your mother was a worthless nothing"? I have freedom of speech, right? Well, no it would not be O.K. for me to do that to you and I am a person of character, so I never would do such a thing. In your disrespect for Michael, you also disrespect all of us who did love him. Your posted, negative comments, speak volumes for YOUR character.

[dovestar]

Who need all this hoopla to tell this story? How much did Michael Jackson leave behind? All of it. I've never seen a hearse with a trailer hitch.
What you need to hope and pray for is that the King of Pop knew the King of Kings. That's the key question for him--and for you.

[andie52]

"Michael Jackson?s long-time lawyer, John Branca, has fired the first salvo in what is gearing up to be a huge legal battle with his deceased client?s family.

On July 1, Branca asked the Los Angeles County Superior Court to immediately remove Katherine Jackson as Special Administrator of Michael?s estate. He also accused Katherine?s legal reps of intentionally misleading the Court about the existence of a will.

Click Here For The Court Documents

Branca, it turns out, was out of the country June 25 when Michael died but on June 28 he met with several of Michael?s business advisors to inform them he had Michael?s will. At 11 AM on June 29, he met in person with Katherine and showed her his copy of Michael?s will and his Trust agreement. Branca?s office then spent hours trying, unsuccessfully, to reach Katherine?s attorneys, who that afternoon filed Katherine?s petition to be put in charge of the estate along with the claim that Michael died without a will.

Branca is clearly outraged at the actions of Katherine?s lawyers and has even contacted the State Attorney General?s office, but that hasn?t stopped them from issuing a very fast ?opposition? petition. Katherine refers to the will Branca presented as a ?purported will? which was ?belatedly? presented to the court. She?s asking the court to leave her in charge of Michael?s millions in assets."

http://www.radaronline.com/exclusives/2009/07/exclusive-michael-jackson%E2%80%99s-attorney-and-mom-do-battle-court

[Wolf1944]

Could the news please be about something besides Michael Jackson? Some of us care what's happening in the world.

[LCCLYDE]

What I want to hear is news of substance about this economy.things are not getting better people are losing jobs ,homes and the 750 billion seems to have been hijacked before it got to the ones who have been through enough already I am in desparate shape no money no work no food no health care yet all I hear about is this guy who had it all and pissed it away.Americans get it together and demand this situation gets attention before chaos breaks out on the streets and people take what they need to survive .Tired of smoke being blowed in my ...face.

[woeisme1]

What will they do with the monkey?

[novamba]

Janet Jackson should get control of this estate. I am sure her people are better prepared to deal with this from a financial standpoint than MJs already bankrupt leaching parents. Also if people feel that MJ was a freak, then they are entitled to voice such opiniuons on this board. This is not a MJ love fest site, it is a news site where anyone should be welcome to voice their like or dislike for MJ.

[cctidepools]

Nothing destroys an icon more than the piranhas who feed on his memory. Shame on them.

[truthseeker60]

MICHAELJACKSON MICHAELJACKSON MICHAELJACKSON
Here's the real Headline of the day;
Israeli troops fired rubber bullets and tear gas at a non-violent protest against the separation wall near the West Bank village of Bilin. Several protesters were injured including the Nobel Peace laureate Mairead Maguire who was shot with a rubber bullet.

Did ABCNNBBCBS give these protesters the same coverage the protesters in Tehran got? No? Why not? Michael Rivera WRH

[gravyboat4000]

Because they weren't allowed INTO Iran?

Just spit ballin, bro.


"liberal media!!!"

lmao

[darthcheney345]

I figured out the problem with our economy.

It's been like Michael Jackson.

We all knew it was extremely unhealthy.

But it kept putting on dazzling displays of razzle-dazzle - but no substance.

Madoff seemed to be making money appear out of thin air. Alan Greenspan told us derivatives didn't need to be regulated, operating under his Libertarian agenda of free market self interest. Banking deregulation was approved with overwhelming bipartisan support.

But is was all just smoke and mirrors. The razzle-dazzle was just a sham.

Now our economy has collapsed with cardiac arrest. All that razzle-dazzle with no healthy substance overloaded the system.

Now our economy is DOA.

And all the idiots do is blame Bush.

They just don't get it.

[dagrandma]

I went on a vacation last week and drove east. Judging by the numbr of trucks hauling pool liners, I'd say some people are still livin' large.

[darthcheney345]

I went on a vacation last week and drove east. Judging by the numbr of trucks hauling pool liners, I'd say some people are still livin' large.
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Those are all the Madoffs who haven't been caught yet.

And if they're livin' large these days, you can be sure they're Democrats.

[darthcheney345]

And if they're livin' large these days, you can be sure they're Democrats.
---------------------
Or maybe they were the recipient of a Pelosi/Obama bailout.

[darthcheney345]

Or maybe they were the recipient of a Pelosi/Obama bailout.
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Ya, that would be Democrats.

What was I thinking.

[woeisme1]

Shut up. You're an idiot. One minute were all slaves with you and the next the democrats are rich. What a dope you are.

[yoyoinla]

I can not believe that someone had the audacity to make even Michael Jackson's death a political issue. Inane.

[dragyn30]

Michael Jackson's Mom is not the issue, though I think at her age it may be tough raising three young kids again, but I am sure MJ's siblings will be around for them.

My biggest fear is that Joe Jackson will get his greedy paws on the money especially now that he has that parasitic loud-moth Sharpton erched on his elbow.

I just wish these kids well and hope they get the love and care that ALL children deserve.

[Joe_NY_15]

230 million estate, but 300+ million in debt......sounds like the estate is owned by the banks.

[saturn05]

Some are so cynical. I believe his mom should have custody of the kids and should be the responsible party with the Trust company. I doubt if Joe will have any say over anything dealing with MJ. But why shouldn't his family be involved. They are all part of the success of the Jackson 5 which led to Michael's career. Granted, his adult life was his own, but come on. As far as Rowe, I don't think she deserves a dime. She even admits to being just a vessel for his kids. And as to the claim his in not his father, well guess what he is. Any other person would be just a sperm donor and by law has to claim to the children unless spelled out in a court document. The kids only knew MJ and his mom as family probably, so let it alone. Give him mom some credit.

[veils-2009]

A quote from MJ's will:
"I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson,"

This shows how shallow, callous and plane evil mean this sorry specimen of a man really was. His death was too kind to him.

[respect4mj]

You are simply an idiot. Would you leave an ex-spouse your money, Jackass.

[aChangeOfIdeas]

Duh, my ex isn't given anything in my will either.

[darthcheney345]

In some states, it's illegal to leave anything to the ex-spouse. You aren't even allowed to have a life insurance policy that gives money to the ex-spouse.

The idea was, the ex-spouse was supposed to get all there was to get at the time of divorce. The idea is, if you remarry you'll give everything to the new spouse and any children from the new marriage. So the state ensures that the spouse and children from the previous marriage will be taken care of before you die.

I'm speaking, of course, about a community property state.

[barbaram99]

The will is none of our business. He was not married at his death. The children will be cared for, It was the singer's affairs not ours.

[andie52]

It was never a marriage it was a sham, the marriage was never consummated and they could have gotten an annulment but then the façade would have crumbled. Now there are children who will pay the price for all of this.

[geewheeez]

by IThoughtItWasFunny2 July 1, 2009 12:14 PM PDT
If the dead deserves respect from an individual they will get it...some don't believe he deserves so much freaking respect...especially after such a whacko life in which he involved 3 innocent children he BOUGHT.
______________________________________________________________________

What's that got to do with you, how MJ lives his live, I mean does MJ owe you money too, or you want some of his. If his live does not involve you, then why talk crap about the dead...that could only mean one thing, YOU LOVE TO GOSSIP.