Jackson's Mom To Get Custody Of His Kids

(CBS)  Michael Jackson's mother will get custody of his three children under terms of a deal that's just been reached.

The word comes in an exclusive interview by "Early Show" features reporter and weather anchor Dave Price of L. Londell McMillan, the attorney for Katherine Jackson.

He says Katherine, 79, and Debbie Rowe, the biological mother of two of Jackson's kids, have come to terms.

Sources tell CBS News Katherine will get full custody and Rowe will have visitation rights, but won't be getting any money under terms of the pact.

There had been reports, hotly denied by Rowe, that she had previously agreed to accept a large sum of money to relinquish all her parental rights.

The accord would appear to head off what some observers has predicted would be a bitter custody battle between the two women.

"It's an agreement, an agreement for the best interests of the children. This is not a money deal. This is not about money. ... "There is no situation better for these children than for them to be raised and reared in the loving care of Mrs. Katherine Jackson," McMillan told Price.

In the wide-ranging interview, McMillan, who's also represented such big-name celebrities as Kanye West, Stevie Wonder, Spike Lee and Prince, and who owns The Source magazine, also discussed the battle over Jackson's estate, the pending autopsy results, how the family is coping with Jackson's death, and rumors of a fourth Jackson child.

He estimated that Michael's estate could be worth as much as $2 billion.

Complete coverage of Jackson's life and death

There have been reports that the entire Jackson clan has agreed that Michael's eldest sibling, his sister, Rebbie, should be the one to raise the kids, should Katherine get custody, as called for in Jackson's only known will.

Michael's kids, Michael Joseph Jackson Jr., known as Prince, Paris Michael Katherine Jackson, and Prince Michael Jackson II, known as Blanket, have been staying at the Jackson family home in Encino, Calif., with Katherine, as called for in Michael's will.

McMillan sought to dispel concern that Michael's father, Joe Jackson, would be involved with raising the kids, saying, "I don't think it's valid at all. I think Joe Jackson is the husband of Mrs. Jackson, but he's not living in Los Angeles."

What about Omer Bhatti, who's close to the Jackson family and has been rumored to be Michael's fourth child?

"I'm not in the rumor business," McMillan said. "I'm in the law business. I'm not going to even entertain those questions right now."

The Jackson will names two long-time business partners, John McClain and John Branca, to manage his estate. Katherine gets 40 percent, but she's fighting to be kept in the loop on all business matters.

Howard Weitzman, an attorney for McClain and Branca, said in a statement that the allegation that the pair had "not been forthcoming in providing information to Katherine Jackson's attorneys is not accurate."

According to Weitzman, Katherine Jackson's team is trying to "rewrite Michael's will" to make her the executor.

"He's incorrect," McMillan asserted. "Mrs. Jackson is not contesting the will. We are not trying to rewrite the will. Our concern is for anyone to have extraordinary powers, they need to have extraordinary trust and integrity."

"The question," McMillan also said, "is what happened to this will in 2002? How come no one knew about it? How come Mrs. Jackson didn't know about it? How come I didn't know about it? How come we learned about it the day we filed a petition in court stating he died without a will?"

The stakes are high in the battle over the estate. Despite being in debt by $331 million when he died, Jackson's estimated net worth was $236 million. And that doesn't include the boom in sales of his musicsince his death.

"That estate," says McMillan, "is worth, in my estimation, a couple of billion dollars. You hear $500 million. Don't buy it."

Katherine applied for emergency funds, Price pointed out. Is she broke?

"I don't know where the broke issue comes -- came from," McMillan responded. "Mr. Jackson was very generous and provided for resources for his mother and his family and certainly his children."

The $2 billion estimate, Price notes, is "if the estate achieves its potential earnings, and that's if the estate is managed effectively. Clearly, Michael Jackson in death could be even more of an industry than he was during his lifetime."

[tmpen]

Now that the two older kids get to know their mom, shouldn't little Blanket know his too? It is ok, by me, if we don't get to know who she is. But, I feel Blanket should be allowed to, since his siblings are .
The Jacksons are not a dysfunctional family . Have we ever given them a thought on how they have kept themselves clean ,and sane in the face of what they have to deal with all through the decades ? They are a big family. How many families of that size today, given similar situation, remain intact?
Michael was man enough to be what he was . He was man enough to express his thoughts in his music and dance; he was man enough to make himself look good; he was man enough to face dangers to his life in order to get some sleep so that he could do his duty to entertain us; he was man enough to cry; he was man enough to understand the needs of the underprivileged, and to take care of children; he was man enough to let us know he had children sleeping over in his house; he was man enough not to exploit women ;and he was man enough to express his wish for his mother to take care of his children in his will. Where did all that come from?
Michael, you are the greatest ,in every way, by any measure. I am from the far east , of the far east and live in the far east, but western educated.

[jankebenzone]

Its amazing how so many people can get so mesmerized by a celebrity that reality and commonsense is above their heads. Mj's song and dance (moonwalk) routine got many a simpleton into such a hypnotic state of mind that they became oblivious to his obvious pedophilia and other weird traits.

[kasherman70]

Have any of us really done what our parents raised us to be? We have our own minds and make our own decisions on how to live our lives. Doesn't mean it's the way our parent raised us. I am glad Katherine keeps the kids, as long as someone is in place if she gets ill, etc., she is a strong woman and the kids deserve to be with her.

RIP MICHAEL -LOVE YOU FOREVER

[holiness101]

You are not God! You don't know what went wrong when the Jackson's children left home. The bible states that you train up a child in a way that they should go, however there is no guarantee that they will abide by all of their training. Did you always do everything that your mother told you or things you were trained to do? The bible states her man is responsible for his own actions. Mrs. Katherine Jackson was only responsible for her children childhood training, which as children there was no record of jail, drugs, etc. You should think before you speak! Be careful what comes out of your month. Life and death is in the power of the tongue!

[ass_u_me]

I never was much of a MJ fan, myself, however, I feel bad for him. If he really felt he needed general anesthesia to cope, then it must have been very painful for him. Regardless of what he did or didn't do, in any legal sense, it seems that near the end of his life he may have been a 'tortured soul'.

[chaseangus]

So I hear Jackson also has a 25 year old son in Scandinavia. One night stand from 1984. This story just gets better and better.

[usmc1976]

i wish the kids all the luck in the world, but i just dont see the 79 yr old grandmother on the same page bringing up the kids,,,,,age difference and having a circus atmosphere all the time

[beaumuff]

Joe is seeing dollar signs already.

[JERZYGURL]

Oh dano10000 by the way to your comment about the child being able to describe his *****....yeah he described it INCORRECTLY! He said that MJ was not circumsized and he in fact WAS circumsized. Hence the kid was lying through his teeth, probably at the request of his money grubbing leech parents.

[JERZYGURL]

Oh by the way dano10000 about the comment that the kid described his *****....yeah he described it and said it was uncircumsized and thats not true he IS circumsized. He didnt describe it CORRECTLY!! Hence he was lying through his teeth.