Read Michael Jackson's will

By Eriq Gardner

At long last, here's a copy of Michael Jackson's will.

The will is dated July 7, 2002 and gives his entire estate to the Michael Jackson Family Trust. Contrary to earlier news reports, the will doesn't explicitly cut his father out of the estate — only his former wife Deborah Rowe.

The five-page document is rather vague on many details, which may spark future battles and increase the power of the named executors —  attorney John Branca, music exec John McClain and accountant Barry Siegel (although reports say Siegel resigned as an executor). The executors have been given power to sell assets of the estate and invest money from the estate, perhaps significant given the value of the singer's intellectual property.

Finally, Jackson gave his mother guardianship of his three children. Interestingly, his back-up plan for his children in case his mother didn't survive him was singer Diana Ross.

Comments

[Concerned for the Babies]

I do not like clause 5 where he intentionally omits the kids...why would he do that?! Unless the Trust states that it goes to the heirs...interpret please!

[Cali MJ Fan]

Actually, the Trust is referenced in that paragraph and that exclusion is quite common in a will. Maybe a legal eagle can explain it more.

[kim]

MJs children where most precious to him. I am sure that he maked sure they are provided for.

[claudette ramey]

This goes out to Michael, his children and Janet, we love you and care for you all. Your dad will always be in our hearts as well as Aunt Janet. Our prayers r with u kids cause we always will love u too!!!!!!

[Canuch]

The Will of Michael Jackson is what is known as a Pour Over Will. Notice that the distribution of his estate goes to the Michael Jackson Family Trust. It is this trust that will distribute his estate to his designated heirs, which the public does not know about. The trust is a private document. How can the news media know that the Jackson estate is going to his mother and children when all they have to read is the Will? Unless they have access to the Trust which is the only legal document that will distribute his estate and name his various heirs to his estate, charitable and non-charitable. The news media puts so much emphasis on the Will, but in legal terms, this Will is not significant as to the distribution of his estate since the Trust is do that. The Will's significance is simply in the naming of the guardians for his minor children, who in this case is Jackson's mother. The only way the Will becomes important as to the estate assets is if any assets were not titled int he name of his Trust and instead were titled in Michale Jackson's name alone. However, we do not know if this is the case with any of his assets. Typically, Jackson's attorney's would go to the extent of transferring all his assets into his Trust during his lifetime. If there are any assets in Jackson's name, then these assets will be administered by the California Probate Court and pass thru his Will into his Family Trust, then the Trust will distribute these assets to his beneficiaries, who, again, the public does not know who they are. Unless his Trust has been made public, I do not know, but the media never talks about the trust. If there is a probate of assets, then the trust will be submitted for validity and then the trust will become a public record, unless the trustee and executor motion the court to keep the distribution provisions private. Unless the media know the exact language of the distribution provisions of Jackson's Trust, then they should not mislead the public as to who is receiving his estate.
Posted by Trust and Estate Attorney

[sapphire rose]

MJ does not omit the children in section VI when he says that he "intentionally omits heirs and Deborah Rowe." Heirs don't necessarily have to be children of the deceased. Heirs are anyone who stands to receive property at the death of another. Let's say MJ and all three of his kids died in an accident, or all three died after MJ died, MJ's heirs could be his parents, his brothers and sisters, etc. Apparently, MJ did not want those individuals or anyone one else, including Debbie Rowe to receive benefits from his estate at the time of his death.

[Wills Online]

I find it a bit strange that MJ did not set up a living trust but a testamentary trust, which means that his estate is still subject to probate and contention from anyone and possibly everyone.

For someone which his wealth, putting a portion into a living trust would have avoided probate all together and kept the information as to the beneficiary private.

[Canuch]

Comment to "Wills Online": You will note that Section III of MJ's Will mentions the beneficiary as the "Michael Jackson Family Trust" dated March 22, 2002. This is NOT a testamentary trust but was a living trust when MJ executed in 2002. The Will distributes to the Family Trust previously set up by MJ in 2002. But the Will only distributes to the Family Trust those assets that were not previously transferred to the Family Trust during MJ's lifetime. MJ's assets not in the Family Trust is subject to probate, not the assets in his Trust. Therefore his entire estate will not be subject to probate, unless all of his assets are outside his Family Trust, which I doubt. You state that "For someone which his wealth, putting a portion into a living trust would have avoided probate all together and kept the information as to the beneficiary private." Well that is exactly what he did. IT is not public knowledge who the actual beneficiaries are of his estate (Family Trust).
Read my previous post at 5:49pm for clarification.

[air jordan shoes]

More and more people began to collect air jordan shoes.

[NameNotToBeSeen]

Ok, I dont think it is right to put his will on the internet. I came across this and it just made me mad. It sickens me to know that people dont respect him enough to keep this private like it is ment to be