While lawyers for the Jackson Family are unaware of any existing will for the late Michael Jackson, a 2002 draft of a final testament leaves the pop star’s vast estate to his mother Katherine, his children and one or more charities.
The seven-year-old supposed document names attorney John Branca and music exec John McClain as executors of the estate, according to the Wall Street Journal.
Branca was on retainer for Jackson from 1980 to 2006, and rehired shortly before the singer’s sudden death last week. While it’s unclear which charities stand to benefit from Jackson’s estate (should it turn out in the black after a reported $500 million debt is paid), mother Katherine is named, as well as his children Prince Michael, Paris and Prince Michael II aka Blanket.
The largest asset in the portfolio is Jackson’s 50% stake in Sony Music Publishing, which he’s used as collateral for a $300 million loan via Barclays.
Attorneys for Joe and Katherine told the WSJ that no will has yet been presented to the family, and that they are focused on obtaining custody of Michael’s three little ones.
Sources tell the newspaper that 2002 will could be submitted to Los Angeles courts as early as Thursday.