High Hopes For Whitney Houston’s Estate Plan

Despite some family member’s wishes to the contrary, Bobby Brown was invited to Whitney Houston’s funeral. After the funeral, Bobby Brown indicated that he and his group were asked to relocate several times throughout the funeral. He didn’t want to cause a scene, so he quietly paid his respects before leaving the funeral. TMZ reported that family members had been trying to keep Bobby Brown away from Bobbi Kristina, his daughter with Whitney. The family was worried that he would try to get some of Whitney’s money through Bobbi Kristina.

There are varying speculations out there concerning what Whitney’s estate is worth. Forbes estimates that there will be millions of dollars at stake though and hopes that Whitney had more than a will. If Whitney only has a basic will, her beneficiaries will receive their inheritances outright. It is likely that Whitney left most if not all of her assets to Bobbi Kristina, who is only 18. Bobbi may not yet be responsible enough to handle that much money responsibly. There has already been concern about her substance abuse issues, so she probably is not competent to have that money at this stage in her life. If that is so, then family members could go to court to try to get management of her finances and get a conservatorship over her. Worse, Bobby Brown could try to get legal control of the money this way.

If Whitney Houston’s estate plan includes other devices such as trusts, this could avoid the trouble just described. The trust could include provisions that would not allow Bobbi to get her money until she reaches a certain age or until she is clean.

Everyone can take an estate-planning lesson from Whitney’s passing. Death often comes unexpectedly and having a will may not be enough. A properly funded trust with detailed instructions might be the best way to protect your loved ones and your assets after you pass.  

See Danielle and Andy Mayoras, Whitney Houston’s Funeral Shows Trouble Already Brewing Around Her Estate, Forbes, Feb. 20, 2012.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.