Read: Last Will of Michael Jackson

NEW YORK (WCBS 880) -- The last will of Michael Joseph Jackson was filed today in Los Angeles County Superior Court by the executors named by Mr. Jackson.

READ: Last Will of Michael Jackson

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The will, which was signed by Mr. Jackson on July 7, 2002, sets forth Mr. Jackson's wishes and desires with regard to the guardianship of his beloved children -- Prince Michael Jackson Jr., Paris Michael Katherine Jackson and Prince Michael Joseph Jackson II -- and establishes the distribution of his assets. In particular, the document specifies that Mr. Jackson's mother Katherine be declared the guardian for the children and that all of his assets be left to the Michael Jackson Family Trust, a private document not filed with the court.

Executors of the estate designated by Mr. Jackson are attorney John Branca and longtime friend John McClain. Mr. Branca, a partner at Ziffren Brittenham LLP, represented Mr. Jackson from 1980 until 2006 and was hired again by Mr. Jackson prior to his untimely death last week. Mr. McClain, a friend of the Jackson family for 40 plus years, has enjoyed a long and distinguished career in the music industry. A third co-Executor named in the will, Barry Siegel, resigned from that
role in 2003.

Mr. Branca is uniquely familiar with Mr. Jackson's assets, having played a critical role in building his estate through the acquisition and development of Sony/ATV Music Publishing, the Mijac publishing catalogue and obtaining for Mr. Jackson the ownership of his master recordings. In addition to serving as co-executor, Mr. Branca will serve as co-chief counsel of Mr. Jackson's estate with another prominent entertainment attorney, Joel Katz of Greenberg Traurig LLP. Like Mr. Branca, Mr. Katz was hired by Mr. Jackson prior to his death and has a long history of working with members of the Jackson family.

Mr. Branca and Mr. McClain stated, "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."

Paul Gordon Hoffman and Jeryll S. Cohen of Hoffman, Sabban and Watenmaker, are serving as probate counsel. Sitrick And Company has been retained to serve as communications counsel and will handle all media inquiries on behalf of Mr. Jackson's estate.