Jackson's hearing is over; Branca and McClain have just been appointed the special administrators of Jackson's estate

Well, the Jackson family were shut out.

(h/t TMZ)

Surface of another will:

We've learned the "second" will that was lodged with the court was signed by Michael Jackson in 1997. That will was declared null and void when the 2002 will was signed.

The main reason Jackson updated his will in 2002 -- the birth of his last two children.In both the '97 and 2002 wills, Jackson's lawyer/friend John Branca was named co-executor.

The breakdown from the hearing today:

1:08 PM ET -- Hearing is over.

1:02 PM ET -- The judge just said that decisions involving marshaling the assets, attorney's fees, and settling claims and actions all require court approval -- as well as any modifications to existing court agreements and decisions

1:00 PM ET -- The judge just made it clear -- Katherine is NOT a co-administrator and she is not required to be involved in every decision. But, he pointed out, her attorney does have the ability to object.

12:54 PM ET -- The executors are also interested in operating his businesses (employees, investments, etc.) but any new business ventures would be subject to court approval.

12:49 PM ET -- The lawyer for the executors is balking about giving Katherine approval power. The judge has said he wants the executors to keep Katherine in the loop about decisions being brought before the court.


12:14 PM ET -- Branca and McClain have just been appointed the special administrators of Michael Jackson's estate. The judge feels Jackson's 2002 will should be controlling.

12:09 PM ET -- The judge just said he may appoint an independent lawyer for the kids.

12:06 PM ET -- The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

12:00 PM ET -- It appears there is some contentiousness -- the judge said if the two sides continue to squabble, he'll appoint an independent special administrator to temporarily oversee the estate.

11:58 AM ET -- There is a "no-contest" clause in the trust, that distributes Jackson's money. As we reported, 40% goes to the kids, 40% goes to Katherine and 20% goes to children's charities. A no-contest clause means if someone challenges the will or trust they automatically inherit nothing.

Click here... it's not over yet