The basic details of Michael Jackson's will had already been leaked before the document was officially filed, but the full version contains some interesting info.
The five-page, seven-year-old document, signed July 7, 2002, was filed this morning. In it, the King of Pop gives custody of his children to his mother, Katherine.
In the will, Michael Jackson names Diana Ross as his choice for alternate guardian of his kids in the event his now 80-year-old mother was unable to raise them.
On that subject, Michael Jackson's will reads:
"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 it is to us.
As for the (alleged) mother of his eldest two kids, Debbie Rowe, Jackson left her out on purpose, writing: "I have intentionally omitted to provide for my former wife."
The fact that Jackson is rumored not to be the father, biologically, of any of the children (Arnold Klein may have done the honors) is not expected to have any bearing on what happens to his children, but there are no guarantees.
The pop music legend also stipulates that all his estate and assets - which, according to sources, hovered at an estimated $567 million in 2007, with a net worth of $236.6 million - be placed in the private Michael Jackson Family Trust.
According to the will, the music icon'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 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 executors of both the will and the estate of Michael Jackson.
Branca and McClain said in a joint statement:
"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 three children and remarkable legacy he left us we ask that all matters involving his estate be handled with the dignity and the respect that Michael and his family deserve."
Click to enlarge a few pages of Michael Jackson's will below ...
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