Katherine retains custody . . . which is what Michael asked for in his will. (--Let's be honest, there was never really much doubt this would happen. Debbie was just a womb-for-rent for Michael. She didn't want those kids.)

Debbie did NOT give up her parental rights . . . and she WILL have some visitation with the kids.

A joint statement from both parties says that the, quote, "timing, frequency and manner of visits shall be implemented according to the best interests of the children."

(Here's something that was NOT addressed in the statement: Will Debbie visit the kids as THEIR MOTHER . . . or as just a FAMILY FRIEND???)

(We've heard rumors over the years that the kids never knew Debbie was their mother . . . because Michael didn't want them to know. Do they know NOW??? And if not, are they going to be told??? We have no idea.)

Katherine and Debbie will also jointly select and pay for a child psychologist for the kids. (Smart move, no???)

The agreement stipulates that Debbie has no parental rights regarding Michael's 7-year-old son Prince Michael the Second . . . a.k.a. "Blanket". Debbie was NOT his biological mother.

The statement very clearly noted that no money changed hands. (--All Debbie ever wanted was for her support to continue to be paid from Michael's estate . . . which is what she and Michael had agreed upon in their divorce.)

Attorneys for both sides also noted that the only consideration in these negotiations was the best interest of the children.