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"Musictoob serves up juicy tidbits from the music scene" - The Wall Street Journal
Jacko’s will, originally drawn up at 5pm on July 7, 2002, makes provision for Paris and Prince Michael, along with seven-year-old Prince Michael II, to be cared for by his close friend, Motown legend Diana Ross.
He said he wanted her to become their legal guardian in the event that his mother Katherine, 79, died before him or was unwilling or unable to take on the role.
At the time of his death, Diana, 65, said: “I can’t stop crying, this is too sudden and shocking. I am praying for his kids and family.”
But the ex-Supreme made no mention that she could be the children’s guardian – and last night it was unclear whether she even knew about the plan.
Jacko decreed everything should go to the Michael Jackson Family Trust. A petition filed with the document revealed that at the time his estate was worth around £300million – mostly “non-cash, non-liquid assets”.
There was no mention of any money going to charity, as previously believed.
Experts say the will, mainly prepared by John Branca, Jacko’s long-time lawyer, is unlikely to be contested. Branca and Jackson’s old friend, music exec John McClain, are the main executors. A third, Barry Siegel, resigned from his role as executor in 2003.
It is thought two wills have emerged since Jacko’s death, although the one filed yesterday is believed to be the most up to date.
A Los Angles court has granted Katherine temporary custody of the children pending a further hearing later this month.
Tags: BlanketDiano RossMichael Jackson's willParisPrince