Michael Jackson's Estate Open For Business
Michael Jackson's Estate Open For Business

A will from Michael Jackson, executed in 2002 and filed with a Los Angeles court on Wednesday, leaves his entire estate to a family trust to be administered by executors, according to court papers obtained by Reuters on Wednesday.

The Michael Jackson Family Trust would benefit Jackson's three children, his mother, Katherine Jackson, and unnamed charities. Jackson's 79-year-old mother is nominated to be guardian of his three children Prince Michael I, 12, Paris, 11 and Prince Michael II, 7, and if she should be unwilling to be guardian, Jackson nominated his friend, pop star Diana Ross, to be the children's guardian.

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The five-page document specifically said "I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson."

The will names Los Angeles-based attorney John Branca, a long-time Jackson counsel, and music industry executives John McClain and accountant Barry Siegel as co-executors, but Siegel resigned as a co-executor in 2003.

Jackson's will has been the subject of much speculation since the pop star died last Thursday, age 50, after suffering cardiac arrest at his rented Los Angeles home.

The pop star whose 1982 record "Thriller" is the best-selling album of all time left behind a multimillion-dollar estate that includes part ownership in a Beatles music catalogue and his own music company that held rights to some of his music.

He was said to be as much as $500 million (303 million pounds) in debt, but his assets have been reported to be worth as much as $1 billion.

(Editing by Sandra Maler)

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