The Wall Street Journalreports that Michael Jackson has a valid will executed in 2002, which will be probated by his longtime attorney. The will provides for Michael's mother and his children, but deliberately leaves his father nothing.
A will drafted by Michael Jackson in 2002 which divides the singer's estate among his mother, three children and one or more charities could play a central role in determining how his tangled financial relationships will be unwound.
Several people close to the late Mr. Jackson said that a lawyer for the pop singer could submit the will, believed to be his last, to Los Angeles Superior Court as soon as Thursday. That filing would cap a tense period in which relatives and advisers of the late singer debated what document, if any, was valid.
One or two other earlier wills have emerged since Mr. Jackson's death last Thursday, according to people familiar with the situation. The Associated Press reported that Mr. Jackson's parents, Joseph and Katherine Jackson, said in a Monday court filing that they believed the singer had died without a valid will. Joseph Jackson isn't believed to be included in the most recent will.
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This will names as executors lawyer John Branca and a veteran music executive named John McClain who was also a friend of Mr. Jackson. Mr. Branca, who served as Mr. Jackson's primary attorney between 1980 and 2006, wrote the will. Mr. Jackson had rehired Mr. Branca the week before his death last Thursday. Mr. Branca didn't respond to requests for comment Monday; Mr. McClain couldn't be reached.
Unwinding Mr. Jackson's estate is likely to be a thorny challenge, given the size and complexity of both the assets and the debts involved. In all, Mr. Jackson died with around $500 million debt, but the value of his assets probably outweigh that, possibly by $200 million or more, according to people familiar with the matter.
Michael has said on many occasions that his father beat him mercilessly during his childhood and that he was terrified of his father. He also refused to go see his mother if his father was there. It makes perfect sense that his father would get nothing in his will. Michael's allegations against his father raise disturbing questions about having his surviving children living in close proximity to their paternal grandfather.
The Wall Street Journal 
