King of Pop Michael Jackson's mother Katherine Jackson withdrew the petition
for control of his estate in the same hearing where she
was assigned the custodian of his three children, it has been revealed.
The Los Angeles County Court had ruled on Monday that Jackson's longtime attorney John Branca and music executive John McClain will continue to administer the singer's estate until at least October.
Katherine who has been at the centre of a health scare had filed for custody of the estate, but decided to withdraw later, US magazine reported.
Branca and McClain have had control over Neverland Ranch for over a month and have the authority to negotiate deals and transition Jackson's assets into a private trust.
It is unclear how much money Katherine and her grandchildren will receive as allowance from the singer's estate in the meantime, but the trust designates that 40% of the estate goes to Katherine, 40% goes to the children and 20% goes to various charities.
Jackson's mother had filed her petition seeking control of the estate that is estimated to be worth USD 500 million, before it was made public that the late pop icon had drafted a will.
Jackson's mother may challenge will executors
LOS ANGELES — Michael Jackson's mother asked for a judge's ruling Friday on whether she can challenge the authority of two men named in her son's will as executors of his estate without being disinherited.
The filing does not formally challenge the appointment of attorney John Branca and music executive John McClain as executors of Michael Jackson's estate.
But a favorable ruling could pave the way for 79-year-old Katherine Jackson to seek control of her son's estate, which has an estimated value of more than $500 million.
A judge granted her temporary control over roughly 2,000 items taken from her son's Neverland Ranch and slated for auction, but her authority expired and was given to Branca and McClain. She had sought to control Jackson's estate, but that was before the singer's 2002 will was filed in Los Angeles.
It names Branca and McClain as Jackson's choice for co-executors of the will, and states his estate should be placed in a private trust.
Jackson's trust included a "no contest" clause that calls for anyone who challenges the will to be disinherited. Katherine Jackson, her three grandchildren and unnamed charities are beneficiaries of the estate.
The filing states that Katherine Jackson's attorneys continue to confer with attorneys for McClain and Branca and no final decisions have been made.
"Mrs. Jackson and her counsel have not yet decided whether to object to the appointment of the named executors or to suggest an alternate appointment," the filing states.
A phone message left after business hours Friday for Paul Gordon Hoffman, an attorney representing Branca and McClain, was not immediately returned.
Los Angeles Superior Court Judge Mitchell Beckloff will consider how to handle the filing at a hearing on Aug 3. Lingering issues about Jackson's estate could be decided then, and the hearing will also focus on whether Katherine Jackson will be allowed to keep custody of her son's children, who range in ages from 7 to 12.
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