Jackson's will names Diana Ross as backup guardian - Update

Los Angeles - The late singer Michael Jackson named fellow music great Diana Ross as the backup guardian of his three children in the event that his mother Katherine, 79, was unable to fulfill that role, according to his 2002 will revealed on Wednesday. According to the will, all of Jackson's assets have been left to the Michael Jackson Family Trust.

It was filed Wednesday in Los Angeles Superior Court with a separate petition that estimates the value of his estate at more than 500 million dollars, primarily comprised of his half share of a music publishing catalog that holds the rights to more than 250 Beatles' songs, as well as other music.

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