Katherine Jackson to Retain Custody of Michael's Children; Debbie Rowe Gets Visitation, No Cash

Michael Jackson's mother, Katherine Jackson, will get custody of his three children under terms of a deal that's just been reached, according to reports.

According to reports, Debbie Rowe, the mother of the Michael's eldest two children, Prince Michael I and Paris Jackson, will get visitation, but no cash.

Though he did not go into specifics, Katherine's attorney Londell McMillan said on CBS' The Early Show Thursday: "It's an agreement, an agreement for the best interests of the children. This is not a money deal. This is not about money."

Since the singer's June 25 death, Katherine Jackson, 79, was named the legal guardian and has been in control of Prince, Paris and Michael's third child, Blanket.

Blanket (a.k.a. Prince Michael Jackson II) was born to an unnamed surrogate, though recent tabloid reports have suggested that his biological mother is Pia Bhatti.

That would be the mother of Omer Bhatti, MJ's supposed "secret son."

But back to Debbie Rowe. The singer's ex-wife has sent mixed signals on the subject of whether she wants to be the children's guardian since he passed away.

NBC's Today show reports that under the new deal, Debbie Rowe, who will not receive money, will retain her parental rights but has agreed not to claim custody.

Katherine Jackson will raise Michael Jackson's kids, as he requested. Debbie Rowe will be allowed visitation with Prince Michael and Paris Jackson, her biological children.

NBC also reports that Prince and Paris know Debbie Rowe is their mother, and as a central part of the agreement, they will begin to have a relationship with her. A child psychologist will supervise the process, according to reports.

McMillan said , "We will be making an announcement shortly on that issue, and all the parties are resolved. There is no situation better for these children than for them to be raised and reared in the loving care of Mrs. Katherine Jackson."

He dismissed reports that crazy Joe Jackson shouldn't be involved in raising the star's children. Said McMillan, "I don't think it's valid at all. I think that Joe Jackson is the husband of Mrs. Jackson, but he is not living in Los Angeles."

Katherine Jackson was also left 40 percent of Michael Jackson's estate, whereas Joe and Debbie Rowe were omitted from the will altogether.

Michael appointed his two longtime business partners, John Branca and John McClain, as co-executors. Katherine wants to be included on all future dealings regarding the estate, but denies she is challenging the executors or will.