Jackson's mother to get custody of his children

Debbie is the biological mother of Prince Michael Jr. and Paris Michael and, according to the new deal, will retain her parental rights to both kids. But she has agreed not to challenge the custody arrangement in court, reported aceshowbiz.com.

Besides, she will not be granted any extra money.

"It's an agreement, an agreement for the best interests of the children. This is not a money deal. This is not about money,” said Katherine's attorney Londell McMillan.

Debbie's attorney Eric George said: “The parties engaged in a dignified discussion that resulted in a dignified outcome. The sole consideration between the parties was the best interests of the children.”

The agreement reportedly will be presented Monday to the Los Angeles Superior Court for approval.

Jackson died June 25 leaving behind three kids.