Estate of Michael Jackson

The Estate of Michael Jackson is a legal entity established following the death of American singer Michael Jackson in 2009 for the purpose of administering his property and overseeing his posthumous income. Jackson's last will was filed by the attorney John Branca at the Los Angeles County courthouse on July 1, 2009. Signed July 7, 2002, it names Branca and accountant John McClain as executors; they were confirmed as such by a Los Angeles judge on July 6, 2009. All assets are given to the (pre-existing) Michael Jackson Family Trust, the details of which have not been made public. The Associated Press reported that, in 2007, Jackson had a net worth of $236.6 million: $567.6 million in assets, which included Neverland Ranch and his 50% share of Sony/ATV Music Publishing' catalogue, and debts of $331 million. The guardianship of his three children is given to his mother, Katherine, or if she is unable or unwilling, to singer Diana Ross. Jackson's will allocates 20% of his fortune as well as 20% of money made after death to unspecified charities.