Michael Jackson`s Will()

For Immediate Release
Executors Named by Michael Jackson File Last Will in Los Angeles
County Superior Court
LOS ANGELES, CA, July 1, 2009 -- The last will of Michael Joseph
Jackson was filed today in Los Angeles County Superior Court by the
executors named by Mr. Jackson.
The will, which was signed by Mr. Jackson on July 7, 2002, sets forth Mr.
Jackson’s wishes and desires with regard to the guardianship of his beloved
children -- Prince Michael Jackson Jr., Paris Michael Katherine Jackson and
Prince Michael Joseph Jackson II -- and establishes the distribution of his
assets. In particular, the document specifies that Mr. Jackson’s mother
Katherine be declared the guardian for the children and that all of his assets
be left to the Michael Jackson Family Trust, a private document not filed
with the court.
Executors of the estate designated by Mr. Jackson are attorney John Branca
and longtime friend John McClain. Mr. Branca, a partner at Ziffren
Brittenham LLP, represented Mr. Jackson from 1980 until 2006 and was
hired again by Mr. Jackson prior to his untimely death last week. Mr.
McClain, a friend of the Jackson family for 40 plus years, has enjoyed a
long and distinguished career in the music industry. A third co-Executor
named in the will, Barry Siegel, resigned from that role in 2003.
Mr. Branca is uniquely familiar with Mr. Jackson’s assets, having played a
critical role in building his estate through the acquisition and development of
Sony/ATV Music Publishing, the Mijac publishing catalogue and obtaining
for Mr. Jackson the ownership of his master recordings. In addition to
serving as co-executor, Mr. Branca will serve as co-chief counsel of Mr.
Jackson’s estate with another prominent entertainment attorney, Joel Katz of
Greenberg Traurig LLP. Like Mr. Branca, Mr. Katz was hired by Mr.
Jackson prior to his death and has a long history of working with members
of the Jackson family.
Mr. Branca and Mr. McClain stated, “The most important element of
Michael’s will is his unwavering desire that his mother, Katherine, become
the legal guardian for his three children. As we work to carry out Michael’s
instructions to safeguard both the future of his children as well as the
remarkable legacy he left us as an artist we ask that all matters involving his
estate be handled with the dignity and the respect that Michael and his
family deserve.”
Paul Gordon Hoffman and Jeryll S. Cohen of Hoffman, Sabban and
Watenmaker, are serving as probate counsel. Sitrick And Company has been
retained to serve as communications counsel and will handle all media
inquiries on behalf of Mr. Jackson’s estate.
Please direct all media inquiries to:
Sitrick And Company, Inc.
310-788-2850
Michael Sitrick
Mike_Sitrick@sitrick.com
Jim Bates
James_Bates@sitrick.com
Terry Fahn
Terry_Fahn@sitrick.com
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LAST WILL
OF
MICHAEL JOSEPH JACKSON
I, MICHAEL JOSEPH JACKSON, a resident of the State of California, declare this
to be my last Will, and do hereby revoke all former wills and codicils made by me.
I
I declare that I am not married. My marriage to DEBORAH mAN ROWE
JACKSON has been dissolved. I have three children now living, PRINCE MICHAEL
JACKSON, JR., PARIS MICHAEL KATHERINEJACKSON and PRINCE MICHAEL
JOSEPHJACKSON,IT.I have no other children,livingor deceased.
IT
It is my intention by this Will to dispose of all property which I am entitled to
dispose-of by wiil. I specificallyrefrain from exercisingaU150wersof appointmentthat I
maypossess at the time of ~y death.
ill
I give my entire estate to the Trustee or Trustees then acting under that certain
Amendedand Restated Declarationof Trust executedon March 22, 2002 by me as Trustee
and Trustor which is called the MICHAELJACKSONFAMILYTRUST, giving effect to
any amendmentstheretomadeprior
to my death. All such assets shallbe held, managedand
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distributedas a part of said Trust accordingto its terms and not as a separatetestamentary
trust.
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If for any reason this gift is not operativeor is invalid, or if the aforesaidTrust fails
or has been revoked,I give my residuaryestatd'tothe Trusteeor Trusteesnamedto act in the
MICHAELJACKSON FAMILY TRUST, as Amended and Restated on March 22,2002,
and I direct said Trustee or Trusteesto divide,administer,hold and distributethe trust estate
pursuant to the provisio~sof said Trust, as hereinabovereferred to as such provisions now
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exist to the same extent and in the same manner as though that certain Amended and
RestatedDeclarationof Trust,were herein set forth in full, but without giving effectto any
subsequentamendmentsafter the date of this Will. The Trustee,Trustees,or any successor
Trusteenamedin such TrustAgreementshall servewithoutbond.
IV
I direct that all federal estatetaxes and state inheritanceor successiontaxes payable
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upon or resulting ftom or by reason of my death (herein "Death Taxes") attributableto Il/
propertywhich is part of the trust estate of the MICHAELJACKSONFAMILYTRUST,
including property which passes to said trust from my probate estate shall be paid by the
Trustee of said trust in accordancewith its terms. Death Taxes attributableto property
passing outside this Will, other than property constituting the trust estate of the trust
inentionedin the precedingsentence,shallbe chargedagainstthe taker of said property.
V
.
I appointJOHNBRANCA,JOHNMcCLAINandBARRYSlliGEL as co-Executors
of thisWill. In the eventof anyof theirdeaths,resignations,inability,failureor refusaltM
serveor continueto serve as a co-Executor,the other shall S'erveand no replacementneed be
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named. The co-Executors serving at"any time after my death may name one or more
replacementsto serve in the eventthat none of the three namedindividualsis willingor able
to serveat anytime.
The term "my executors"as used in this Will shall include any duly actingperson~ A 11
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representativeor representativesof my estate. No individual acting as such need post a vv {f-'
bond.
I hereby give to my Executors,full power and authorityat any time or times to sell,
lease, mortgage, pledge, exchange or otherwise dispose of the property, whether real or,
personal comprising my estate, upon such terms as my Executors shall deem best, to
continueany businessenterprises,to purchaseassetsftom my estate,to continuein forceand
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pay insurance premiums on any insurancepolicy, including life insurance,owned by my
estate, and for any of the foregoingpurposesto make, executeand deliver any and all deeds,
contracts,mortgages,bills of sale or other instrumentsnecessary or desirabletherefor. In
addition,I give to my Executorsfull power to investand reinvestthe estatefunds and assets
in any kind of property,real, personalor mixed, and everykind of investment,specifically
including, but not by way of limitation,corporate obligations of every kind and stocks,
preferredor common,and interestsin investmenttrusts and sharesin investmentcompanies,
and any commontrust fund administeredby anycorporateexecutorhereunder,which menof
prudentdiscretionand intelligenceacquirefor their own account.
VI
Except as otherwise provided in this Will or in the Trust refeITedto in Article m A11
hereof, I have intentionally omitted to provide for my heirs. I have intentionally omitted to(V \;1
provide for my fonner wife, DEBORAH JEAN ROWE JACKSON.
vn
If at the time of my death I own or have an interestin propertylocated outsideof the
State of Californiarequiringancillaryadministration,I appointmy domiciliaryExecutorsas
ancillary Executors for such property. I give to said domiciliaryExecutors the following
additionalpowers, rights and privilegesto be exercisedin their sole and absolutediscretion,
with reference to such property:to cause such ancillary administrationto be commenced,
caITiedon and completed;to detennine what assets, if any, are to be sold by the ancillary
Executors; to pay directly or to advance funds from the California estate to the ancillary
Executorsfor the paymentof all claims,taxes, costs and administrationexpenses,including
compensation of the ancillary Executors and attorneys' fees incUITedby reason of the
ownership of such property and by such ancillaryadministration;and upon completionof
such ancillary administration,I authorize and direct the ancillary Executors to distribute,
transfer and deliver the residue of such propertyto the domiciliaryExecutorsherein, to be
distributedby them under the tenns of this Will, it being my intentionthat my entire estate
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shan be administered as a unit and that my domiciliary Executors shall supervise and
control, so far as pennissible by locallaw, any ancillaryadministrationproceedingsdeemed
necessaryin the settlementof my estate.
vm
If any of my children are minors at the time of my death, I nominate my mother,
KATHERINEJACKSONas guardianof the pers~nsand estates_ofsuch minor children. If
nominate DIANA ROSS as guardian of the pers
I subscribe my name to this Will this
On the date written below, MICHAELJOSEPH J
undersigned,that the foregoinginstrumentconsistingof five (5) pages, includingthe page
signed by us as witnesses, was his Will and requested us to act as witnesses to it. 'He
thereupon signed this Will in our presence,all of us being present at the same time. We
now, at his request,in his presenceand in the presenceof each other,subscribeour names as
witnesses.
~.Each of us is now more than eighteen(18) yearsof age and a competentwitness and
resides at the addressset forthafterhis name.
Each of us is acquaintedwith MICHAELJOSEPHJACKSON. At this time, he is
over the age of eighteen(18) years and, to the best of our knowledge,he is of sound mind
and is not actingunder duress,menace,fraud,misrepresentationor undueinfluence.
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We declare under penalty of perjury that the foregoing is true and correct.
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