Michael Jackson left all his assets to the Michael Jackson Family Trust and cut out former wife Debbie Rowe, according to his 7-year-old will filed Wednesday in a Los Angeles court.
His mother, Katherine Jackson, 79, is named as a beneficiary. "I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson," Jackson's will said.
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The will, dated July 7, 2002, estimated his estate at that time at more than $500 million.
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His estate consisted almost entirely of "non-cash, non-liquid assets, including primarily an interest in a catalogue of music royalty rights which is currently being administered by Sony ATV, and the interests of various entities," the 5-page document reads.
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He also named his mother Katherine as guardian of his children — Prince, 12, Paris, 11, and Blanket, 7.
(The new Us Weekly reveals that their biological father is Arnold Klein, Jackson's L.A.-based dermatologist and Rowe's former boss.)
If Katherine died before him or couldn't serve as guardian, he nominated Diana Ross, according to the will.
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Jackson's will also states that he is not married and doesn't have any other children living or deceased. Attorney John Branca, Barry Siegel and John McClain, a music executive, are named as executors.
After the will was revealed, a Los Angeles judge granted Katherine Jackson limited authority over her son's estate until Monday. (The ruling came over the objections of Branca and McClain as co-executors of Jackson's estate.)
She was also granted "slim" authority to take control of the roughly 2,000 items from Neverland Ranch. (The items were set for auction earlier this year, but the sale was stopped after Jackson sued.)
In her filing, Katherine's attorneys said the memorabilia is being held by a former Jackson representative. A court hearing is scheduled for Monday to discuss who should control Jackson's estate.
