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Star wrote a will in 2002 for his $1billion estate ... and cut his father out of it
Robert Mendick, Chief Reporter30 Jun 2009
Michael Jackson cut his father out of his will, it was reported today. The singer had accused Joe Jackson of regularly beating him as a child.
The existence of the 2002 will is likely to complicate relationships within the Jackson family as armies of lawyers divide up his estate, estimated to be worth $1 billion following his death.
Jackson wanted to leave his money to his mother, Katherine Jackson, his three children and at least one charity, according to the Wall Street Journal. His 80-year-old father is not mentioned. The will could be submitted to the Los Angeles Supreme Court within the next few days. The Jacksons had previously said they believed the singer had died intestate.
Mrs Jackson, 79, was yesterday given temporary custody of Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II. But a court denied her request to become administrator of the children's estates. Mrs Jackson had helped her son out financially in recent years. She is estranged from her husband because of his adultery. Questions have been raised over Joe Jackson's suitability for involvement with children. He has also been accused of cynically cashing in on his son's death. Last night he used a press conference intended to announce plans for his son's funeral to reveal his own plans for a new record label.
Although Jackson died between $300 and $400 million in debt, since his death the value of his estate has soared. His most valuable asset is believed to be his 50 per cent stake in Sony/ATV Music Publishing, which includes The Beatles' back catalogue.
