Michael Jackson's will names his mother Katherine as the guardian for his three children; if she cannot serve as the guardian, it nominates Diana Ross.July 01, 2009, (Sawf News) - Michael Jackson's will names his mother Katherine as the guardian for his three children; if she cannot serve as the guardian, it nominates Diana Ross.
"If any of my children are minors at the time of my death, I nominate my mother, Katherine Jackson as guardian of the persons and estates of such minor children. If Katherine Jackson fails tot survive me, or is unable or unwilling to act as guardian, I nominate Diana Ross as guardian of the persons and estates of such minor children," reads the will.
The will, filed in court Wednesday, July 1, leaves everything to the Michael Jackson Family Trust and appoints John Branca, John McClain and Barry Siegel as co-Executors, reports TMZ.
John Branca is the attorney who filed the will, John McClain is a music executive and Siegel is Michael's former accountant, who relinquished his role as co-executor in 2003.
"I give my entire estate to the Trustee or Trustees..." Michael states in the will.
In a petition filed along with the will, Michael states that his estate is worth more than $500 million and "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."
The figure closely matches a financial statement prepared by a Washington-based accounting firm in 2007 that put his assets at $567.6 million.
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