Jackson Honchos Score $3 Mil

The special administrators of Michael Jackson's estate scored a big one -- reeling in $3 million from the company that issued a life insurance policy to M.J.
John Branca (above) and John McClain quietly cashed in the policy -- reports it was worth upwards of $20 million are simply not true. It was a $3 million payout. And here's why it was a swift move -- the coroner hasn't even released the autopsy report yet.

Some life insurance companies are hinky about paying out proceeds until the cause of death is known. Remember Heath Ledger's death, when the life insurance company wouldn't promptly fork over the $10 million because Heath allegedly lied about drug use on the application?

Somehow Branca and McClain convinced the insurance company to ante up with lightening speed -- and the estate is $3 million richer for it.

Joe Jackson agrees that Katherine left with custody of grandchildren

Joe Jackson said, in Teece Thursday, 4 to the website TMZ, which is satisfied that custody of the children of Michael Jackson, Paris, Prince and Blanket, be with his wife, Katherine Jackson.

"Katherine Jackson is an excellent guardian and has done a great job creating our children and grandchildren," said Joe.

The father of the king of pop used to say that still will see their grandchildren with the decision. "I have a good close relationship with these children since their birth. Visit the residence of the family from time to time and will continue to do so, despite not being involved in creating them."

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