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Jackson's Last Will -- Diana Ross Mentioned

7/1/2009 1:10 PM PDT BY TMZ STAFF

Michael Jackson's will has been filed with the court. Jackson asks that his mother, Katherine, be made the guardian of all three of his kids. The will says if Katherine died before him or couldn't serve as guardian, he nominated Diana Ross.

And there's a petition filed along with the will, saying Jackson's estate is worth more than $500,000,000. The petition says almost all of the 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."

MIchael Jackson's Will

As we first reported, the will leaves everything to the Michael Jackson Family Trust, stating, "I give my entire estate to the Trustee or Trustees..."

The will has been misinterpreted in reports -- suggesting that Debbie Rowe was intentionally excluded. Jackson has even excluded his own children from getting property under the will. But all that means is that the trust he created will control the distribution of property.

The will declares that Jackson is not married.

The will names John Branca, John McClain and Barry Siegel as co-Executors. Branca was Jackson's lawyer, McClain is a music exec and Siegel was Jackson's accountant. But Siegel resigned from his role as executor in 2003.

Branca and McClain just released the following 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."

196 COMMENTS

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1.

Logan    

R.I.P. MICHAEL!!!
FINALLY THE TRUTH!!!

1907 days ago
2.

Logan    

R.I.P. MICHAEL... FINALLY THE REAL WILL!!!

1907 days ago
3.

HaHa!!!    

I am glad he named Diana.

1907 days ago
4.

RonBurgundy    

lol...Sorry Joe, still nothing.

1907 days ago
5.

JTB    

MJ I love you!!! Can't believe you're gone. You will live on forever in my heart and the heart of your true fans.

1907 days ago
6.

Can't Stand Obama    

Hey TMZ, you should really change the name of your site to the Michael Jackson Zone because it is no longer the Thirty Mile Zone. How about quit bl*wing the Jackson family and report on some other celebs liked you used to.

1907 days ago
7.

Disgusting    

It's pretty clear Jackson expected to die young. Both appointed guardians are significantly older than him.

1907 days ago
8.

Pixie    

I'm wonder what Diana Ross have to say about that?

1907 days ago
9.

Cory (yes Feldman)    

bye bye joe jackson you roach

1907 days ago
10.

cherylnj81    

TMZ can you please work on confirming details about Friday's public viewing so his fans can make travel arrangements?

1907 days ago
11.

.:Loki 4Ever:.    

Well I hope John Branca, John McClain do right!!!!!!

1907 days ago
12.

Congressman ron paul    

If he was so in debt why did he keep spending money?
love you mj and miss so much

1907 days ago
13.

sable    

Diana Ross! He really was wacko!

1907 days ago
14.

John    

Harvey Levin is a LAWYER!

1907 days ago
15.

billeeto    

Londell looks ludicrous now. A showdown between Londell vs. Branca would be most interesting. Apparently Branca, who scored the SonyATV deal, will be the white knight (no racial pun intended) in the end, and Londell will be repping ?? father Joe's interest in having this go to probate without a will?

1907 days ago
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

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