Katherine Jackson Withdraws Bid for Son's Estate

Michael Jackson's mother has withdrawn her petition for control over her son's estate, while the two men named in the late singer's will are to remain in charge.

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Attorney John Branca and music executive John McClain, who have had control over Jackson's affairs for the last month, were declared permanent co-executors until October, Los Angeles Judge Mitchell Beckloff ruled Monday. Beckloff will consider a motion by Katherine regarding whether she could disqualify the men's appointment, the Associated Press reports.The decision followed Beckloff's naming of Katherine as the guardian of Jackson's three children. Both rulings were in accordance with the star's 2002 will.Jackson's dermatologist, Dr. Arnold Klein, raised objections to the custody arrangement, but Beckloff dismissed his grievances because Klein did not have legal standing. Klein had previously denied he was the father of Jackson's two older children "to the best of [his] knowledge.""Dr. Klein is not objecting to Katherine Jackson being the guardian nominee, but was acting on promises he made to Michael with respect to assuring the long term health and stability of the children and their ability to enjoy as normal of a life out of the spotlight as could be reasonably possible," Klein's attorneys, Mark Vincent Kaplan and Bradley Boyer, said in a statement. See photos of Jackson with his children and familyAEG, the promoter that arranged Jackson's scheduled July comeback tour, also reached a settlement with the King of Pop's estate over merchandise and rehearsal footage, according to Branca. Katherine is entitled to see her son's contract with the company, Beckloff said.A hearing regarding the settlement has been scheduled for Monday.