The document, dated 7 July 2002, also reveals the star "intentionally omitted" to provide for his former wife, Debbie Rowe.
Jackson's mother, Katherine, is named as a beneficiary of the trust and the guardian of the singer's three young children, who are named in the will.
It estimated Jackson's estate at that time to be more than $500m (£303m).
The Michael Jackson Family Trust would benefit his three children, his mother and unnamed charities, according to Reuters.
The news agency also reported that Jackson's five-page will said: "I have intentionally omitted to provide for my former wife, Deborah Rowe Jackson."
Rowe married Jackson in 1996 but filed for divorce in 1999. She gave up custody rights to the children but sought them again in 2003.
They agreed a settlement in 2006 but the terms were never disclosed.
She is the biological mother of Jackson's eldest children - Michael Joseph Jackson Jr, known as Prince Michael, 12, and Paris Michael Katherine Jackson, 11.
The singer's youngest son - seven-year-old Prince Michael II - was born to a surrogate mother whose identity has never been revealed.
Long-time friend and singer Diana Ross is also named as guardian for Jackson's children in the event that his mother was unable to fulfil her duties.
Katherine Jackson was granted temporary guardianship of Jackson's three children on Monday.