Bobbi Kristina Brown’s Untimely Death Raises Questions Concerning not only her Estate but also Whitney Houston’s Estate
Unfortunately, after loved-ones pass away, we usually learn that their financial matters were not in order, leading to unnecessary legal costs, lengthy court battles, and ultimately more money being paid for taxes than necessary. Generally speaking, most individuals, celebrities and non-celebrities alike, can avoid costly complications by seeking out the help and advice from financial professionals, CPAs, and an estate planning attorney.
On February 11, 2012, we lost Queen of Soul, Whitney Houston, after she ingested narcotics and ultimately drowned in her bathtub. After being found in an eerily similar situation as her mother on January 31, 2015, Bobbi Kristina Brown passed away at the young age of 22 while surrounded by her family.
As her family, friends, and fans mourn the loss of Bobbi Kristina Brown, we can be sure that a legal battle will ensue not only over Bobbi Kristina’s estate, but also her mother’s estate due to the distribution scheme in Whitney Houston’s Last Will and Testament. This particular circumstance is ripe for disagreement not only because of the estimated $20 million dollars involved, but also because of the strained family dynamics, incomplete estate plans that are now in play, and rumors that Bobbi Kristina married her pseudo-brother, Nick Gordon, prior to her death.
Attorney Marty L. Oblasser, who works with high net worth individuals to minimize their tax liability, first had the opportunity to review Whitney Houston’s Last Will and Testament when comparing the differences in Whitney Houston’s and Michael Jackson’s estate plans: King of Pop vs. Queen of Soul. Whitney Houston originally executed her Will on February 3, 1993, and amended it on April 14, 2000. Bobbi Kristina was Ms. Houston’s sole heir and was primed to receive the following distributions:
- 10% of her mother’s estate when she turns 21 years old;
- 1/6th of the remaining estate when she turns 25 years old; and
- 100% of the remaining assets when she turns 30.
“Since Bobbi Kristina Brown passed away after receiving the first 10% distribution from her mother’s estate and prior to receiving the next two distributions, there are now two separate estates that need to be administered. According to Whitney Houston’s Will, the remaining assets in her estate shall go to Bobbi Kristina’s descendants, and if she does not have any descendants, then Whitney Houston’s remaining estate will be divided between her mother, father (who is now deceased), and two brothers. Whitney Houston also included ‘my husband’ in this distribution; however, since she divorced Bobby Brown in 2006, after she executed her Will, he is no longer eligible to inherit though Whitney Houston’s Will,” says Marty L. Oblasser.
It is also possible there are $2+ million dollars in Bobbi Kristina’s separate estate. If she did not execute an estate plan that disposed of her assets, it is possible that Bobbi Kristina’s alleged husband, Nick Gordon, or in the alternative, her father, Bobby Brown, will inherit her estate.
Marty L. Oblasser explains that “unfortunately, after loved-ones pass away, we usually learn that their financial matters were not in order, leading to unnecessary legal costs, lengthy court battles, and ultimately more money being paid for taxes than necessary. Generally speaking, most individuals, celebrities and non-celebrities alike, can avoid costly complications by seeking out the help and advice from financial professionals, CPAs, and an estate planning attorney.”
Currently, Bobbi Kristina Brown’s family is thankful that she is no longer suffering and reunited with her best friend, her mother.
Marty L. Oblasser is a partner with Wyoming’s oldest law firm, Corthell and King, P.C., and focuses her practice primarily on estate planning, business law, and trust litigation. Marty works with Wyoming families and businesses all across the country to help protect their loved ones and preserve their legacies through innovative planning techniques. For more estate planning information and articles concerning celebrity estate plans visit www.facebook.com/corthellandking and www.corthellandking.com.
- Contact Information
- Marty L. Oblasser
- Wyoming’s oldest law firm, Corthell and King, P.C.
- (1) (307) 742-3717
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