Wednesday, July 1, 2009

Michael's Will

Michael Jackson's 7-year-old will was filed Wednesday in a Los Angeles court, giving his entire estate to a family trust and cutting out his former wife Debbie Rowe.

The will, dated July 7, 2002, estimated his estate at that time 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 named in the will.

It also names entertainer Diana Ross as a successor guardian for the children and
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.

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

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