Whitney Houston Estate Issues

[mickeyd]

It's difficult to understand how an entertainer with a large estate and a child could overlook preparation of a well thought-out estate plan. Did she not have any financial advisors? But, here we go again...

Quote:

Some have speculated that Whitney’s estate will be worth between $10 and $20 million, or more. At this point, that’s pure speculation. As we wrote a few weeks ago, Whitney’s camp previously denied rumors that she was broke. Certainly, between the royalties from increased record sales, and with prudent marketing of her name and image, her estate can bring in millions. But, because Whitney Houston only sang songs, instead of writing or producing them like Michael Jackson did, her estate won’t have the same earning potential. Here’s an ABC News article that discusses her estate’s earning potential in more depth. The article quotes an unnamed source familiar with the situation who indicated that Whitney did have a will and that the estate process has been started. At this point, we don’t know how much estate planning she had in place. But, certainly, we can expect there will be millions of dollars at stake. We hope that Whitney Houston’s estate planning included more than just a simple will. For the large majority of people with even a modest amount of assets, a will is not enough. Whitney Houston’s passing provides a perfect illustration of why this is true. With a basic will alone, Whitney’s beneficiaries would generally receive their inheritances outright. Everyone expects that Whitney left most — and perhaps all — of her assets to her daughter Bobbi Kristina. Because Bobbi Kristina is 18, she would be entitled to receive everything at once under a simple will. How many 18-year-olds do you know who are responsible enough to handle a large sum of money? Not many. And, again according to TMZ, there may be more concerns about Bobbi Kristina’s responsibility. Reportedly, family members want her to undergo drug rehab right away, because she has been struggling with substance abuse issues for years— much like her mother did.

Whitney Houston's Funeral Suggests Trouble For Her Estate - Financial Planning

[Nords]

How kind of the financial-planning community to remind us of the fates that await us if we don't have a proper estate plan... that is, one properly prepared by the financial-planning community.

They should've gone straight to the pitch for a revocable living trust.

[easysurfer]

Looks like Whitney left everything to her daughter:

Whitney Houston will leaves everything to heir Bobbi Kristina Brown - Reality TV World

Glad the had the foresight to have this taken care for her daughter of and leave Bobby Brown zippo