John Young
July 18, 2009 AT 04:12 AM EDT

The guardianship hearing for Michael Jackson’s three children that was scheduled for July 20 has been postponed (again) to Aug. 3, according to TMZ.com. The reason: Katherine Jackson and Debbie Rowe reportedly are close to striking up a custody settlement. TMZ’s sources say that an agreement is expected soon and that the discussion “is amicable and involves the children — not money.” Rowe reportedly already has an agreement with the late singer that provides her with an unknown amount of money over an extended period of time, and that agreement survived Jackson’s death. Katherine Jackson will remain the children’s legal guardian until the Aug. 3 hearing.

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