Michael Jackson's will was filed in a Los Angeles court Wednesday, revealing that the singer had entrusted his entire estate to family while cutting out his former wife, Debbie Rowe.
The will, completed in July 2002, states that the singer's estate is worth more than US$500 million at the time.
Jackson's 79-year-old mother, Katherine, is named as the beneficiary of the singer's trust and the chief guardian of his three children.
The will also names singer Diana Ross, 65, as a successor guardian for the children and their estates if anything occurred to their grandmother.
Ross is credited with helping to launch the career of the Jackson 5, and she introduced the group during a breakout performance on the Ed Sullivan show back in the late 1960s. When Jackson went solo in the 70s, he developed a long friendship with Ross.
Meanwhile, hundreds of fans and news media gathered at Jackson's Neverland Ranch on Wednesday as reports circulated that the singer would be buried at the sprawling California property.
However, as hotel rooms in the area sold out and fans flocked to the ranch, those reports turned out to be false. A source, who declined to be named, told The Associated Press that Jackson would likely be buried in Los Angeles.
However, the source noted that nothing was planned until at least Friday, and that the family would possibly hold a private service at Neverland after Jackson is laid to rest.
"The family is aware a Neverland burial is not possible. They are expected to make decisions about whatever funeral and memorial service" will eventually take place, the source said.
On Tuesday, construction crews and heavy equipment could be seen entering the ranch, which is about 170 kilometres northwest of Los Angeles.
Late Wednesday evening, The Associated Press reported that the Drug Enforcement Administration would be joining the investigation into Jackson's death.
Details of the will
Jackson's lawyer John Branca and music executive pal John McClain are listed as executors of the will.
The will's executors moved quickly Wednesday to get control over Jackson's property, and they challenged a previous court ruling which gave Katherine Jackson 2,000 items from Neverland.
According to Superior Court Judge Mitchell Beckloff, Katherine Jackson will still have authority over the Neverland items for the time being, but another hearing has been scheduled for Monday.
Beckloff asked Wednesday that lawyers from both sides try to work out a compromise.
"I would like the family to sit down try to make this work that we don't have a difficult time in court," said the judge.
McClain and Branca issued a statement, saying: "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."
The court papers say that Jackson's estate is mostly made up 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 the interests of various entities."
One of the late singer's most profitable holdings is a portion of the Sony-ATV Music Publishing Catalog, which owns publishing rights by the Beatles, Bob Dylan, Neil Diamond and newcomers like Lady Gaga.
Today, Jackson's stake is worth an estimated $2 billion.
With files from The Associated Press
