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OTRC: Katherine Jackson to share guardianship of Michael Jackson's kids with TJ Jackson

Members of the Jackson family, left to right, Blanket Jackson, Prince Jackson, Paris Jackson, Katherine Jackson and La Toya Jackson pose Monday Aug. 8, 2011 at Children's Hospital in Los Angeles after presentation of 13 pieces of original artwork by pop icon Michael Jackson, were donated to the hospital. (Nick Ut)

Katherine Jackson will share her guardianship of Michael Jackson's three children with her grandson Tito Joe (TJ) Jackson, her attorney announced on Friday, July 27.

The new arrangement, which is expected to be filed in court next week, will relieve the 82-year-old of the day-to-day stress. The decision was made after a meeting between Katherine Jackson and her lawyer Perry Sanders Jr. on Thursday, July 26.

If the arrangement is approved, TJ will become a co-guardian of Prince, Paris and Blanket - who range in ages from 10 to 15.

"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," Katherine Jackson's attorney, Perry R. Sanders wrote in a statement on July 27. "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."

Randy Jackson took to his official Twitter page on July 27 to give his side of the story and claimed that Katherine actually told TJ not to ask for temporary guardianship.

"1) When TJ asked my mother if he should ask for temporary guardianship, my Mother told TJ NO ? twice," he wrote in a statement that appeared on TwitLonger. "5) In order to obtain temporary guardianship, TJ lied to the court. Rebbie, Janet, Jermaine and I would never harm our mother and we are doing our best to protect her and the Estate knows that. I want to know why Perry Sanders would consider a negotiation based on lies."

He later added, "7) It is my fear and belief, that they are trying to take my mother's life."

TJ Jackson, the 34-year-old son of Jackson's brother Tito, was appointed a temporary guardian of the late King of Pop's three children on Wednesday, July 25, after Katherine reportedly left them and didn't inform them of her whereabouts.

Katherine traveled to Arizona to visit family members amid what appears to be a growing family feud with the executors of Jackson's some $1 billion estate. The singer left his entire fortune to Katherine and his sons Prince and Blanket and daughter Paris.

It is unclear when precisely Katherine flew to Arizona, but over the weekend, her absence spurred her nephew, Trent Jackson, to report her missing to Los Angeles authorities. She was later found to be in Arizona with other relatives and authorities closed the case.

Her estate attorney told ABC News that he traveled to Tucson on Tuesday night to meet with Janet and Jermaine and check on Katherine's condition. He said he did not see her in person but that people staying with the matriarch assured him she was OK.

Katherine Jackson previously said in a statement to ABC News that she was "devastated" that her grandchildren have been taken away from her, calling Wednesday's court hearing a "bunch of lies."

All three children are reportedly on board with TJ's appointment and that Prince, 15, and Paris signed a consent form. He added that Blanket, 10, is too young to do so but also agreed to the guardianship change.