Fate of Michael Jackson’s Fortune and Children Remains Unknown

June 29, 2009 by Suzanne Conlon

Experts say that the fate of Michael Jackson's fortune and the custody of his children are likely to prove contentious. Jackson died suddenly on Thursday, apparently of cardiac arrest.

Jackson’s children, 12-year-old Michael Joseph "Prince" Jackson Jr. and 11-year-old Paris Michael Katherine Jackson, were in Jackson's sole custody following his 1999 divorce from Debbie Rowe, the children's biological mother. His third child, 7-year-old Prince Michael II Jackson, was born to an unknown surrogate who waived her parental rights.

It’s not known whether Jackson ever wrote a will specifying who would have custody of his children or his estate when he died. Many associates believe Jackson would have wanted his children to live with his mother, Katherine, the matriarch of the Jackson clan.

"I do not know of any kind of will or estate planning that Michael would have made," said Brian Oxman, a Jackson family lawyer. "But I know that he believed that if anything ever happened to him that his mother was a wonderful caretaker."

But the story may be complicated.  Rowe stated clearly in court documents that she had no interest in taking her children. "They're his kids. They're not my kids," she said. "I don't have any rights."  However, Rowe's former attorney said that a judge returned parental rights to Rowe in 2005, so she could gain custody of the children.

"Certainly any court that is looking at that sort of question will say, if the father dies who is the mother and would we consider giving the children to the mother?" said legal analyst Jeffrey Toobin.

Others disagreed, saying Rowe had very little contact with the children. "There's no judge on the planet that would give a woman like that custody of these children. She basically treated them like loaves of bread," said Wendy Murphy, a child advocate.

The pop star's financial problems include near-bankruptcy and the threatened foreclosure of his famous Neverland Ranch.  Jackson was approximately $400-$500 million in debt, but he also held enormous assets, including the rights to his own songs and a share of the company that owns the majority of the Beatles' catalog. Rumors suggest that Jackson planned to will the rights to the Beatles' songs to Paul McCartney.

"Whoever does have custody of the children ultimately will have access to whatever remains of his estate," said Murphy.