Michael Jackson cuts father from will
Jun 30, 2009, 14:24 GMT
Joe Jackson, The 50-year-old pop legend - who died after suffering a reported cardiac arrest last Thursday (25.06.09) - left his entire estate to his mother Katherine, three children Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II and several charities, according to a will made in 2002. EPA/ADAM DAVIS
Michael Jackson left his father nothing in his will.
The 50-year-old pop legend - who died after suffering a reported cardiac arrest last Thursday (25.06.09) - left his entire estate to his mother Katherine, three children Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II and several charities, according to a will made in 2002.
America's prestigious business newspaper the Wall Street Journal reports the will is the last one Michael - who had a troubled relationship with his father and had accused him of physical abuse during his childhood - made.
It is understood Michael's lawyer John Branca - who stopped working with Michael in 2006 but was reportedly rehired three weeks ago, and who arranged for Michael to buy The Beatles publishing catalogue in 1985 - could hand the document to the Los Angeles Superior Court as early as tomorrow (01.07.09).
In a petition filed by Michael's parents to administer his estate on Monday (29.06.09), they claimed their son died "intestate", meaning without a will.
Joe and Katherine's lawyer L. Londell McMillan claims neither of Michael's parents have seen the 2002 document.
McMillan wrote in an email: "No will has been presented to family or us. We will review any will when we see it."
The document names Branca and music executive John McClain, who was friends with Michael, as executors.
It is alleged Michael died with a debt of around $500 million, but his assets are said to be worth in the region of $700 million.
His most valuable asset is his 50 per ownership of Sony/ATV Music Publishing. He also owned publishing catalogue Mijac, which is made up of his own music. Sony currently have control of the masters of his albums, but that was set to be handed back to him in five years, according to reports.
Katherine was given temporary custody of Michael's children yesterday (29.06.09), but she was denied temporary guardianship of the children's estate.