Katherine Jackson Reinstated as Guardian ... WITH TJ Jackson

8/2/2012 10:30 AM PDT

Katherine Jackson -- Reinstated as Guardian ... WITH TJ Jackson

Breaking News

Katherine Jackson
is back in as permanent guardian of Michael Jackson's three children, and her grandson TJ Jackson will share responsibilities as co-guardian ... according to a new court ruling.

TMZ broke the story ... Katherine had a change of heart last week, agreeing to split guardianship responsibilities with TJ -- despite previously claiming she was "devastated" by TJ taking on a guardianship role.

In a hearing this morning, the judge reinstated Katherine's guardianship rights ... and made TJ co-guardian, but only temporarily until an Aug. 22nd hearing. At that time the judge will consider making the split guardianship of Prince, Paris and Blanket permanent.

During the hearing, a court appointed investigator said Katherine has been doing a "terrific job as guardian and the children love her." He added, "They also have a close relationship with their cousin, TJ Jackson."

The investigator also said Katherine and TJ have been working well together to care for the children ever since Michael Jackson's death.