by wildcherry on Tuesday, June 30th, 2009 | Entertainment, News, World | No Comments

According to The Wall Street Journal, several sources close with the pop star said a lawyer for Jackson could submit the will - which is thought to be his last - to Los Angeles Superior Court on Thursday.

Michael Jackson’s will, reportedly drafted in 2002, is said to divide his assets between his mother, three children and one or more charities.

The star’s mother, Katherine Jackson, who was granted temporary guardianship of Jackson’s three children on Monday, and husband Joe Jackson have said they believed their son died without a valid will.

“No will has been presented to family or us,” L. Londell McMillan, a lawyer for Jackson’s parents who also once represented the singer, said in an e-mail to the paper. “We will review any will when we see it.”

The King of Pop is said to have amassed approximately $500 million in debt, but that his assets could reportedly outweigh that by more than $200 million.

The most valuable part of the Jackson estate could be the singer’s 50 percent stake in the Sony/ATV Music Publishing catalog, which the singer owned half of. The massive 750,000-song music catalog includes the work of the Beatles, Bob Dylan, Neil Diamond, Lady Gaga and the Jonas Brothers. The catalog is reportedly estimated to be worth upwards of $2 billion.

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