The will, written by Michael Jackson nearly seven years ago to the day, was filed this morning in an L.A. court.

The document, dated July 7, 2002, estimated the King of Pop's estate at more than $500 million, and gives that entire estate to the Michael Jackson Family Trust -- completely cutting out the mother of two of his three children, Debbie Rowe.

Jackson named his mother, Katherine, as a beneficiary of the trust, and, most importantly, the guardian of Jackson's three children. But the most interesting note in the will is this: Jackson states that if Katherine is unable to take care of the kids, Diana Ross (yes, THAT Diana Ross) is to be their guardian. What? Was Liz Taylor not available?!

The will also designates Jackson's longtime lawyer, John Branca, and music exec John McClain as co-executors of the will.

In a statement to the Associated Press, Branca and McClain said: "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."

TMZ has the entire will. Read it here.

Michael Jackson	Jackson's Kids