LOS ANGELES - Katherine Jackson will raise her son’s children under an agreement with the King of Pop’s ex-wife, who will have visitation rights under the supervision of a child psychologist, attorneys said Thursday.

The agreement calls for Jackson’s mother to remain guardian of the pop icon’s three children, who range in ages from 7 to 12, in accordance with wishes spelled out in the singer’s 2002 will. No money is changing hands as a result of the agreement, the statement said.

Deborah Rowe, the biological mother of the two oldest children who has been largely absent ...

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