Whitney Houston's untimely death on February 11th 2012 came as a shock to the world. Singers mourned the stars' passing at the Grammy's the following Sunday, and news stations quickly pieced together lengthy memorial programs on her life and legacy in the music world. Though the star's death was unexpected, she was well prepared for disaster. According to US Weekly, Whitney amended her will on April 14th, 2000, leaving all of her assets to her only daughter, Bobbi Kristina. The 19-year-old child of Houston and former-husband Bobby Brown will become the custodian of all her mother's possessions, including money, clothing, personal effects, cars, and jewelry. The entire inheritance was outlined in a 19 page court document.
As the sole heir of her estate, Bobbi Kristina will undergo a simple probate procedure. The court will simply establish a trust which will allot her portions of the estate on certain birthdays. This is a common practice in probate law, and allows parents to ensure that their children will not spend all of their money right away. In fact, studies have shown that, parents are telling future trustees to raise the age. In some cases, the average age for a child to receive the first portion of an inheritance is 24. This is to ensure that the child is a mature adult who will be a wise custodian of his or her wealth.
Bobbi Kristina's fortune will be placed in a trust until she turns 21, when a portion of the assets will be released. She will receive another chunk of the estate at the age of 35, and the final amount when she turns 30. According to USA Today, Houston's trustees are allowed to grant her money from the trust for certain constructive purposes such as tuition, buying a home, or starting a business. The young heiress talked about the death of her mother and her subsequent inheritance on March 11 when she appeared on Oprah.
In her will, Houston named her mother Cissy the executor, and added her brother and sister-in-law as trustees of the estate. Her first will was written in 1993, but amended after her marriage to music star Bobby Brown. She did not bequeath any of her possessions to her former husband. Sadly, the singer star was reported recently living out of his car after his divorce, and struggling financially. He may have hoped that he would be resurrected from his low-wage lifestyle when Whitney's will was declared, but now he will need to make due on his own income.
Houston added a provision that if Bobbi Kristina passed away before her, then her mother Cissy, and other relatives would divide and share her assets. Cissy was to be given all jewelry, and the rest of her tangible property would be divided between Cissy and her brothers. It is important to put a provision like this in a will, because it will protect heirs from a complicated probate, or from dividing the estate in a way that the decedent wouldn't have approved of. It would be devastating to dishonor a decedent due to misinterpretation.
If you are working through a will, or are going through a probate process, then you will want the assistance of an excellent probate attorney. A well-informed lawyer can help to walk you through the probate procedure and ensure that you are getting your fair share of the inheritance. Also, a probate lawyer can review a will and make sure to abide by the decedents wishes. If you have any concerns with your probate process, you can ask an attorney for help. Get started by finding a probate attorney near you.