Whitney Houston’s mother, Cissy Houston, and sister-in-law, Marion Houston, filed a request in court to change the terms of Whitney Houston’s will. They want to delay when Bobbi Kristina receives her inheritance in order to protect her.
The will created a “testamentary trust” for Bobbi Kristina. What is a testamentary trust? It’s when a will calls for money to be held in trust for one or more beneficiaries, usually so they can receive money spaced out over time instead of all at once. It’s far from perfect, as we discuss in this article, because a testamentary trust does not avoid probate, which can be expensive, messy and very public.
But that is not the biggest drawback to Whitney Houston’s will. Her biggest mistake was failing to update her will, even after her divorce from Bobby Brown, to better protect Bobbi Kristina. The will — signed on February 3, 1993 — provides that Bobbi Kristina will receive 10% of the estate when she turns age 21, another one-sixth Read more…
Whitney Houston’s funeral this weekend provided the first public glimpse of what may be trouble involving her estate. Her ex-husband, Bobby Brown, was invited to the funeral, after reports surfaced that some family members didn’t want him there. He didn’t last long. Brown’s entourage wasn’t allowed to sit with him at the funeral. Brown wasn’t happy and left, visibly upset.
Bobby Brown issued a statement after the funeral, saying he and his group were asked to relocate three times, and rather than making a scene, he chose to pay his respects quickly and leave.
TMZ reported the day before Whitney Houston’s funeral that mother, Cissy Houston, and other family members had been trying to keep Brown away from Bobbi Kristina, Whitney’s daughter with Brown. They were said to be worried that Brown would try to use Bobbi Kristina to make a play for some of Whitney’s money.
Brown’s statement confirmed some of this. He said that security prevented him from seeing his daughter at the funeral. Is money the reason Read more…