Michael Jakson's mother will retain the permanent custody of his three children in an out-of-the court agreement reached with the pop star's ex-wife Debbie Rowe.
Rowe, who is the biological mother of Jackson's two elder children, will be granted 'meaningful visitation rights,' ABC News reported quoting a source.
According to the agreement, Katherine Jackson, 79, will maintain the sole custody of Prince Michael-I, 12, Paris-Michael Katherine, 11, and Prince Michael-II "Blanket", 7, while Rowe will retain her legal parental rights.
Katherine and Rowe's lawyers plan to bring the agreement to Los Angeles Superior Court on Monday for the approval of judge Mitchell Beckloff, who had appointed Jackson's mother as the temporary custodian of the children.
Rowe had earlier indicated to fight for the custody rights of the two children but she decided to give up custody rights after reaching a deal with Katherine, who is said to be close to the children.
"The discussions were amicable and cooperative, rather than a give and take negotiation. Both sides cooperated to reach agreement based solely on the best interest of the children," the source said.
Both Rowe and Katherine will reportedly split the cost of a child psychologist for the children, who have been living with Katherine and Jackson's extended family in Encino, California, since his death on June 25.