Whitney Houston\u2019s estate was worth approximately $20 million when she died \u2013 plenty to meet the needs of her only daughter \u2013 Bobbi Kristina. Sadly, only a few years after Houston\u2019s death, Bobbi Kristina died as well.<\/p>\r\n
Although Bobbi Kristina\u2019s previous boyfriend, Nick Gordon, is still a suspect in her murder, many say that having access to so much money at a young age was a contributing factor. Sadly, Houston\u2019s estate planning mistakes are all too common.<\/p>\r\n
Aunt & Grandmother Say Will Did Not <\/em>Depict Houston\u2019s Intentions<\/strong><\/p>\r\n Houston\u2019s aunt and grandmother filed a lawsuit to re-write the will as they say it didn\u2019t accurately depict what Whitney really <\/em>wanted for Bobbi-Kristina. They claimed that she was too young to handle so much money.<\/p>\r\n Although they likely had the best of intentions, probate courts must follow the terms of the actual will or trust documents, not what the person who died might have<\/em> otherwise intended.<\/p>\r\n Whitney Houston\u2019s will was created in 1993, specifying that a trust would be created after she died for any children she may have (so before Bobbi-Kristina was even born). Unfortunately, she never updated her will before she died.<\/p>\r\n You\u2019ve Got to Have a Plan for Your Children<\/strong><\/p>\r\n Whether this tragedy could have been adverted if Bobbi Kristina\u2019s distributions were delayed until she was older is anyone\u2019s guess. The bottom line is that inheriting large sums of money at a young is generally never a good idea. Although the young beneficiary might be responsible, young people can be easily manipulated by others.<\/p>\r\n While it\u2019s clear that Houston could have better protected that money with a stronger estate plan, she\u2019s certainly not the only one guilty of not following through. In fact, many of us have the best intentions, but simply don\u2019t make the time to create \u2013 and update \u2013 proper estate planning documents that can help beneficiaries.<\/p>\r\n Set Your Children Up For Success!<\/strong><\/p>\r\n You do have the power to set your young beneficiaries up for success. In most cases, that means creating a trust that allows them access to money over time and can be managed by someone you trust and has their best interests at heart.<\/p>\r\n We can provide you with the tools you need to protect your loved ones \u2013 whatever your situation may be. As Houston\u2019s case shows, ignoring estate planning issues can have tragic consequences.\u00a0 Contact us today and let\u2019s get started protecting you and those you love. The Belleh Law Group, PLLC, Tel: (888) 450-7999; email: Info@bellehlaw.com<\/a>; website: www.bellehlaw.com<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Whitney Houston\u2019s estate was worth approximately $20 million when she died \u2013 plenty to meet the needs of her only daughter \u2013 Bobbi Kristina. Sadly, only a few years after […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[37,38,39,40],"yoast_head":"\n