Jackson custody deal

After several delays, the Jacksons are in court today to finalize a custody agreement that gives Katherine Jackson guardianship of Michael’s three children.

Also on the docket, who gets control of Michael Jackson’s massive estate.

First to the kids where a judge where less than 30 minutes after the hearing began signed off on a deal between Jackson’s mother, Katherine and his ex-wife Debbie Rowe.

“Today’s result five and half weeks after the tragic death of Michael Jackson, eliminates the uncertainty and offers some stability to the lives of these children,“ said Eric George, Rowe’s attorney.

Rowe has agreed not to fight for custody in exchange for the right to visit the children.

How and when that will happen will be established by a child psychologist.

“I think the agreement takes into account developmental issues of children, psychological interests of these children especially,“ said retired family court judge Gretchen Taylor.

While the custody case may be little more than a legal formality the estate hearing could provide some fireworks.

Lawyers for Katherine Jackson have filed several petitions with the court and have talked publicly about being left out of the mix when it comes to key decisions about the estate.

They are expected to ask the judge to force John McClain, and John Branca, the two men named as executors in Jackson’s will, to answer questions under oath about business agreements involving the estate.

“Katherine Jackson’s a beneficiary to the will. She really has no power as an executor. She is going to say she wants more power but I don’t believe the judge will give it to her,“ said probate attorney Todd Reinstein.

It is a high stakes legal tug of war with 500-million dollars -or more- hanging in the balance.
In fact as he continues to climb the charts, the value of Michael Jackson’s estate continues to grow.

Some have estimated his estate could ultimately be worth two billion dollars.