Jackson's Will Filed in Los Angeles, Nothing for Rowe
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Wednesday, July 01, 2009
Michael Jackson's will has been filed in a Los Angeles court, and early reports suggest he's left nothing for his ex-wife Debbie Rowe.
In the will, dated July 7, 2002, the King of Pop leaves his entire estate to a family trust.
The seven-year-old document estimates that the "Thriller" hitmaker was worth over $500 million in 2002, but consisted entirely of non-cash and non-liquid assets, including the Sony/ATV music catalogue featuring the songs of the Beatles.
Jackson's parents, Joe and Katherine Jackson, were initially unaware that their son had made arrangements in the event of his death and filed a petition in court on Monday stating that the singer died "intestate," meaning without a will.
Jackson's former lawyer John Branca has since come forward and presented a copy of the papers to his grieving relatives.
The Jackson family lawyer, L. Londell McMillan, says, "My clients are now aware after filings that a will has been presented. His various advisers are looking for additional documents."
Contrary to earlier reports, the will allegedly leaves all Jackson's assets to the Michael Jackson Family Trust, his mother and his three children -- Prince Michael Jr., 12, Paris Michael Katherine, 11, and 7-year-old Prince Michael II. Rowe, the mother of Jackson's two eldest kids, is not named in the will, according to TV news network MSNBC.
The will names Branca, John McClain and Barry Siegel as co-executors. McClain is a music industry executive and Siegel was Jackson's accountant. Siegel resigned from his role as executor in 2003.
The will names the King of Pop's mother Katherine as the guardian of his children, and longtime friend Diana Ross is named as an alternative guardian who would take over custody if his mom was unable to.
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