Michael Jackson's children will live with their grandmother under an agreement reached with the King of Pop's ex-wife that ensures the youngsters won't have to endure a public fight over who raises them.

The agreement announced Thursday preserves Jackson's wishes as spelled out in his 2002 will, and reopens the door to a relationship with Deborah Rowe, the mother of Jackson's two oldest children. Rowe will be allowed to see her children in visits coordinated by a child psychologist.

Rowe will receive no money from the deal, as she had after previous custody arrangements with Jackson.

The agreement ends the possibility of a lengthy and public custody battle between Katherine Jackson and Rowe. It spares the children, who range in age from 7 to 12, from appearing before a judge and declaring who they would prefer to live with.

The announcement also ends weeks of rampant speculation about who would care for the children and Rowe's intentions, which were never officially announced before Thursday.