Jacko gives the entire estate to his family and cuts out ex-wife Debbie Rowe among other amazing surprises!
Michael Jackson’s 2002 will and last testament was filed today in LA County Superior Court
The document signed July 7, 2002 which was filed by attorney John Branca specifies Jackson’s mother Katherine be declared the guardian for his 23 children and that all of his assets be left to the Michael Jackson Family Trust, a private document not made public nor filed with the court.
In the event of anything happening to his mother, Jacko’s will names Diana Ross as successor guardian. As legend has it, t’was Diana Ross who first brought the Jackson 5 to the attention of Motown prexy Barry Gordy. Gordy was promo-ing Ross as a solo superstar and gave cred to Diana when it was actually Gladys Knight who first discovered the Jacksons.
Diana was a lifelong friend of MJ’s and it was often speculated his multiple plastic surgeries were an attempt to replicate her look.
Jacko’s longtime on-again-off-on again attorney John Branca, John McClain, a music exec (not the former GOP Prez candidate) and Barry Siegel, Jacko’s accountant, are named as co-executors of the will.
The crown jewels of Jackson’s assets are his share in the massive Sony-ATV Music Publishing Catalog includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers estimated to be worth $2 billion.
Jacko insiders and Santa Barbara officials have also nixed plans for a public Jackson memorial at his former pleasure palace Neverland. The source said a funeral and burial may take place in LA but the Jackson family has final say in the matter.
Interestingly enough, Jacko’s state of mind, July 7,2002 when he wrote and signed the will was a tad Wacko.
He had accused Sony Music president Tommy Mottola of being a racist at a Harlem rally led by Rev. Al Sharpton, alleging the record exec of conspiring against black artists. He said that Mottola had used the "N-word" when referring to a black artist and that Mottola was "mean … a racist … and very, very, very devilish."
Jacko watchers believe the attack was a personal vendetta against Sony which he personally held responsible for the failure of his final LP Invincible. Jacko claimed Sony tried to destroy what was to have been his comeback album by failing to promote it.
According to industry sources, Sony spent $30 million to make Invincible and another $25 million to promote it; only two singles and one video were released, however.
The real reason it failed was that Jackson did not go out on tour in support of the album.
The often- inflammatory Rev. Al Sharpton was shocked by Jacko’s accusation saying "I have known Tommy for 15 or 20 years, and never once have I known him to say or do anything that would be considered racist. I didn’t know that Michael planned to personally attack Tommy, but nobody tells Michael Jackson what to do."