Randy Jackson: 'They Are Trying to Take My Mother's Life'

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"It will also make clear for school personnel and anyone else coming into contact with the children that TJ is authorized to act on their behalf," Sanders continued. "TJ has frequently attended school conferences and dealt with school related matters and this agreement, if approved by the court, allows for continuity as sanctioned by the court."

Margaret Lodise, the children's court appointed attorney, was included in the meeting by conference call, and Sanders said she confirmed with Prince, Michael Jackson's oldest child, that all of the children supported the proposed arrangement.

"Mrs. Jackson is extremely pleased with the prospect of enjoying the pleasure of raising Michael's children without the day-to-day tedium of items such as managing the large staff that goes with such a high-profile family and focus her attention on being a grandmother and raising Michael's children," Sanders said in the statement. "She is eager to simply enjoy her great relationship with these children, while deeding over some of the stressors that go hand-in-hand with being a guardian."

Shultz, TJ Jackson's attorney, also filed a petition for TJ to be appointed the permanent guardian for Michael Jackson's kids. The filing was mandated by the court during Wednesday's proceedings.

The judge who suspended Katherine's guardianship also ordered a probate court investigator to prepare a report on the status of the children and Katherine, authorizing the investigator to have unrestricted access to the kids, including interviewing them at their school.

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