Michael Jackson’s will was officially filed this morning in California. Everyone is already combing through the will, which was written in 2002. It actually doesn’t seem too crazy – Michael specifies that the entirety of his assets should be assigned to the Michael Jackson Family Trust, and names three co-executors to oversee the trust. Michael specifies guardianship of his children to his mother, Katherine, which probably means that the court hearing in August for the children’s custody will most likely honor Michael’s wishes. The most interesting part is that Michael’s will has a codicil that states that if Katherine Jackson is unable to care for the kids, “I nominate Diana Ross as guardian of the persons and estates of such minor children.” Diana Ross! That’s so… awesome.

Michael Jackson’s last will has been filed with the court, with a date of July 7, 2002 on it. In the document, Michael leaves everything to the Michael Jackson Family Trust, and names John Branca, John McClain and Barry Siegel as co-Executors. Branca was his lawyer, McClain a music execuive and Siegel was his former accountant, who resigned in 2003.

He also states “I have intentionally omitted to provide for my former wife, Deborah Jean Rowe Jackson,” and gives guardianship of his three children, Michael Jackson Jr., Paris Michael Katherine Jackson and Prince Michael II to his mother; however if she is unable to care for the kids, he designated Diana Ross as guardian.

“If any of my children are minors at the time of my death, I nominate my mother, Katherine Jackson as guardian of the persons and estates of such minor children. If Katherine Jackson fails tot survive me, or is unable or unwilling to act as guardian, I nominate Diana Ross as guardian of the persons and estates of such minor children,” reads the will.

Alongside the will, a petition was filed, stating that MJ’s estate is worth a total of $500 million. According to the document, the estate “consists of non-cash, non-liquid assets, including primarily an interest in a catalog of music royalty rights which is currently being administered by Sony-ATV, and interests in various entities.”

[From OK! Magazine]

Diana Ross is the one name I don’t think anyone mentioned as a possible guardian for Michael’s kids. We’ve talked about Katherine Jackson, Joe Jackson, Debbie Rowe, Janet Jackson, Tito, LaToya, everybody else. But then Diana Ross came into the picture and made my day. In all seriousness, Diana Ross and Michael were lifelong friends, and she was probably the closest person Michael had to some kind of mentor/mother figure outside of his family. Diana was instrumental in the success of both the Jackson Five and Michael’s solo career, and she’s one of the few people who knew Michael who hasn’t come out and exploited their relationship in the wake of Michael’s death. She’s a great choice for guardian. Team Diana!

Here’s Diana Ross at the Nobel Peace Prize Concert in Oslo, Norway, on December 10th. Images thanks to Fame Pictures .