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Whitney's Last Will & Testament



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#31 Every1lovesNippy

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Posted 08 March 2012 - 10:38 AM

View Posttruthspeaker06, on 08 March 2012 - 10:29 AM, said:

View PostEvery1lovesNippy, on 08 March 2012 - 10:21 AM, said:

View Posttruthspeaker06, on 08 March 2012 - 09:26 AM, said:

I just love the fact that even when she drew the will up in 2000 & updated in 2004 (while STILL married both times) she left everything to Krissi with Cissy being the executor. that speaks VOLUMES.

Yes it does. Whitney she loved her some Bobby, but she knew it was a destructive love and he was bad for her. She was really a smart and honest woman. People never give her the credit she deserves.

& she knew that he would run through that money & she worked too BLEEP hard not to see her child & her mother taken care of. She made sure that Krissi would be taken care of & if what I've read is right about the "Trust" & Krissi getting some money when she turns 21, another chunk at 25, & the balance at 30, she made sure that Krissi would set & also has given her the chance to mature & go through life ups & downs & learn the value of the money. This way Kriss wont fall prey to who ever trying to get at her for the money, Cissy will have to OK the transfer of funds. I think this was a wise move on Whitney's part.

The only thing I hope is that Krissy gets the help of one or two objective professionals, with whom she and she alone has a direct relationship. Krissi needs to have a disinterested voice or two who owe loyalty only to HER, and not some family member, just like Whitney had her own lawyers. Family and money often don't mix any more than friends and money do. So Krissi will need some objective eyes as well. Family to watch the professionals and professionals to watch the family and friends.

#32 Every1lovesNippy

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Posted 08 March 2012 - 10:46 AM

View Posttruthspeaker06, on 08 March 2012 - 10:33 AM, said:

I've seen first hand children who parents have passed away and they were well off financially & the parents left them everything up front & within 5-6 years, they've blown through their parents entire estate. I like that this was structured & secure.

They say by the third generation, wealth often reverts to poverty. It takes a LOT of education, training and discipline to maintain a fortune. It also takes real professionals (I'm sure the Kennedys and Rockefellers don't have friends and family managing their wealth). My only concern is that Krissy learns the lessons of wealth preservation and takes them to heart.

#33 truthspeaker06

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Posted 08 March 2012 - 10:47 AM

View PostEvery1lovesNippy, on 08 March 2012 - 10:38 AM, said:

View Posttruthspeaker06, on 08 March 2012 - 10:29 AM, said:

View PostEvery1lovesNippy, on 08 March 2012 - 10:21 AM, said:

View Posttruthspeaker06, on 08 March 2012 - 09:26 AM, said:

I just love the fact that even when she drew the will up in 2000 & updated in 2004 (while STILL married both times) she left everything to Krissi with Cissy being the executor. that speaks VOLUMES.

Yes it does. Whitney she loved her some Bobby, but she knew it was a destructive love and he was bad for her. She was really a smart and honest woman. People never give her the credit she deserves.

& she knew that he would run through that money & she worked too BLEEP hard not to see her child & her mother taken care of. She made sure that Krissi would be taken care of & if what I've read is right about the "Trust" & Krissi getting some money when she turns 21, another chunk at 25, & the balance at 30, she made sure that Krissi would set & also has given her the chance to mature & go through life ups & downs & learn the value of the money. This way Kriss wont fall prey to who ever trying to get at her for the money, Cissy will have to OK the transfer of funds. I think this was a wise move on Whitney's part.

The only thing I hope is that Krissy gets the help of one or two objective professionals, with whom she and she alone has a direct relationship. Krissi needs to have a disinterested voice or two who owe loyalty only to HER, and not some family member, just like Whitney had her own lawyers. Family and money often don't mix any more than friends and money do. So Krissi will need some objective eyes as well. Family to watch the professionals and professionals to watch the family and friends.

I couldn't agree more. not that I don't trust the family but even at one point Whitney decided to relieve her father of his duties as Manger because I'm sure it caused a strain. I know for a fact that though that in terms of family watching professionals, Cissy WILL have her eye on them. I'd love if Whitney's lawyers could become Krissi's Lawyers. I believe that they would have her best interest at heart as they always looked out for Whitney.

I have to stress that I love that Cissy and or Pat will have to OK money other than what is to be given to her the three ages. People will be out to try & prey on Krissi & at 19, you don't have the wisdom to discern who is around you for what reasons. People will try to take advantage of her, I mean they already have in the past so I'm sure the vultures are already circling up above.
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#34 NippyFanNy779

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Posted 08 March 2012 - 10:57 AM

View Posttruthspeaker06, on 08 March 2012 - 10:31 AM, said:

View PostNippyFanNy779, on 08 March 2012 - 10:29 AM, said:

Whitney was a smart business woman and she had good team. People do crazy things when it comes to money and leaving everything to Kris was the way to go.

People don't realize this woman was VERY business savy, I know for a fact her father taught her how to make a deal. Whitney has never really made bad business decisions, esp when it came to money. If what I've read is true, then she did the best thing possible. Esp with her not getting a lump sum of money up front, I love that Cissy and or Pat will have to OK anything extra.

View Posttruthspeaker06, on 08 March 2012 - 10:31 AM, said:

View PostNippyFanNy779, on 08 March 2012 - 10:29 AM, said:

Whitney was a smart business woman and she had good team. People do crazy things when it comes to money and leaving everything to Kris was the way to go.

People don't realize this woman was VERY business savy, I know for a fact her father taught her how to make a deal. Whitney has never really made bad business decisions, esp when it came to money. If what I've read is true, then she did the best thing possible. Esp with her not getting a lump sum of money up front, I love that Cissy and or Pat will have to OK anything extra.

In my business we still tend to suggest an independent 3rd party or at the least have two people who have to agree and sign off on any disbursement so that its not just one person or the other having a soft spot and agreeing to everything.

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#35 sinderella

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Posted 08 March 2012 - 06:31 PM

View Postremamamama, on 08 March 2012 - 03:07 AM, said:

Good to hear Bobby didn't get a single dime.

Never thought I would find use for this smiley in these times but here goes...... :wavetowel:
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#36 Every1lovesNippy

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Posted 09 March 2012 - 03:49 AM

View Postsinderella, on 08 March 2012 - 06:31 PM, said:

View Postremamamama, on 08 March 2012 - 03:07 AM, said:

Good to hear Bobby didn't get a single dime.

Never thought I would find use for this smiley in these times but here goes...... :wavetowel:

Not to be crass, but, hopefully Whitney's lawyers got Krissi to put her John Hancock on a quickie Will, b/c if anything untoward should happen (if she should slip on a banana peel, or if a lightening bolt should strike), without a Will, BBB would be made in the shade and Cissy could be out in the cold. Whitney's lawyers had better get on it, b/c stranger things have happened.

#37 atang245

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Posted 09 March 2012 - 10:39 AM

Whitney Houston Leaves Bobbi Kristina $20 Million Estate

By Linda Seccaspina
WHITNEY HOUSTON LEFT EVERYTHING TO HER ONLY SURVIVING CHILD, 19-YEAR-OLD BOBBI KRISTINA,.

"Krissy" will inherit the late pop star's entire estate valued at around $20 million. No specific assets were mentioned but Houston's furnishings, clothing, personal effects, jewelry and cars all go to the teenager who has struggled to cope with her mother's death.

The money will be put into a trust with sister-in-law and manager, Patricia Houston, who was appointed as executor of the estate. There is an amendment that if the 19-year-old dies before she turns 30, ex-hubby Bobby Brown could have access to the money. It stipulates if the 19-year-old dies before probate is completed or before she turns 30, ex-hubby Brown and various relatives would split up all of Whitney's assets. I have no doubt in my mind that Bobby Brown and his brood are going to have their hand out constantly no matter what the will stipulates.

According to The Huffington Post, Bobbi Kristina will receive part of the money when she turns 21. Additional funds will be distributed at age 25 and the balance at the age of 30. Houston's trustees can give her money from the trust for various purposes, including tuition, purchasing a home and to start a business. The will was signed on Feb. 3, 1993, barely a month before Houston gave birth to her daughter.

I found it odd that the statement above made no mention of real estate, rights to image and rights to music. According to Black Like Moi, Houston did not receive a large share of revenues from her work because Houston's label,Sony's Legacy Records, owned the catalog of her albums and paid the singer royalties for her performances. Because the late singer did not write her hit songs, she did not receive any revenues for those publishing rights.

There were also lots of advances that Whitney consistently received with Clive Davis's assistance, reports music-industry blogger Wayne Russo. The last big loan was reportedly from Clive for $1.2 million, though everyone knows it came from Sony and not from Clive, Russo writes.

“No way Clive would ever reach into his own pocket for anyone’” one former label employee tells him.

Russo estimates that the amount of money Houston owes Sony is approximately $38 million. Whitney Houston used to laugh off reports that she was broke, but now as sales of her albums increase any hope her family had of rolling in the dough have been dashed. According to Russo, the Houston estate would need to sell 5 million records in order to repay the singer’s debt to Sony Music.

The 48 year-old pop star, whose voice fueled her rise to global fame in the mid-1980s, was found underwater in a bathtub at a Beverly Hills hotel on February 11. An exact cause of death has yet to be determined, but authorities do not suspect foul play.

#38 remamamama

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Posted 09 March 2012 - 12:36 PM

TMZ Gary is on her way to see Cissy, and says he doesn't care about being left out of the will.
"All I know is my sister's gone, that's all that matters to me"

http://www.tmz.com/2...rd#.T1o-iIHxozA

The reporter should feel sorry for himself. What a BLEEP!

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#39 laprimadivas1fan

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Posted 09 March 2012 - 12:42 PM

View Postremamamama, on 09 March 2012 - 12:36 PM, said:

TMZ Gary is on her way to see Cissy, and says he doesn't care about being left out of the will.
"All I know is my sister's gone, that's all that matters to me"

http://www.tmz.com/2...rd#.T1o-iIHxozA

The reporter should feel sorry for himself. What a BLEEP!

Please, he works for TMZ. Lacking scruples and common decency keep you employed.
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#40 diva #1

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Posted 09 March 2012 - 12:56 PM

somebody please clear up something for me. Whitney's physical assets as mentioned above cars, furniture etc is valued at $20 million. Does that include money. If so, I am surprised with all the money she would have made over the 30 years, that's all that remains.

#41 Terrence

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Posted 09 March 2012 - 01:05 PM

View PostEvery1lovesNippy, on 09 March 2012 - 03:49 AM, said:

View Postsinderella, on 08 March 2012 - 06:31 PM, said:

View Postremamamama, on 08 March 2012 - 03:07 AM, said:

Good to hear Bobby didn't get a single dime.

Never thought I would find use for this smiley in these times but here goes...... :wavetowel:

Not to be crass, but, hopefully Whitney's lawyers got Krissi to put her John Hancock on a quickie Will, b/c if anything untoward should happen (if she should slip on a banana peel, or if a lightening bolt should strike), without a Will, BBB would be made in the shade and Cissy could be out in the cold. Whitney's lawyers had better get on it, b/c stranger things have happened.

Not really. If there were no surviving child everything would go to Cissy. So God forbid anything happen to Krissy, Cissy would pick it up. But in the event that Cissy were no longer here it would be split equally between Gary, Michael, and Bobby. If they couldn't decide on the equal break down everything would be sold and the money added back to her estate which will be split equally for them. So no matter what, Bobby's not getting a huge payday from Whitney.

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#42 diva #1

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Posted 09 March 2012 - 01:09 PM

somebody please clear up something for me. Whitney's physical assets as mentioned above cars, furniture etc is valued at $20 million. Does that include money. If so, I am surprised with all the money she would have made over the 30 years, that's all that remains.

#43 Every1lovesNippy

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Posted 09 March 2012 - 01:16 PM

View Postatang245, on 09 March 2012 - 10:39 AM, said:

Whitney Houston Leaves Bobbi Kristina $20 Million Estate

By Linda Seccaspina
WHITNEY HOUSTON LEFT EVERYTHING TO HER ONLY SURVIVING CHILD, 19-YEAR-OLD BOBBI KRISTINA,.

"Krissy" will inherit the late pop star's entire estate valued at around $20 million. No specific assets were mentioned but Houston's furnishings, clothing, personal effects, jewelry and cars all go to the teenager who has struggled to cope with her mother's death.

The money will be put into a trust with sister-in-law and manager, Patricia Houston, who was appointed as executor of the estate. There is an amendment that if the 19-year-old dies before she turns 30, ex-hubby Bobby Brown could have access to the money. It stipulates if the 19-year-old dies before probate is completed or before she turns 30, ex-hubby Brown and various relatives would split up all of Whitney's assets. I have no doubt in my mind that Bobby Brown and his brood are going to have their hand out constantly no matter what the will stipulates.

According to The Huffington Post, Bobbi Kristina will receive part of the money when she turns 21. Additional funds will be distributed at age 25 and the balance at the age of 30. Houston's trustees can give her money from the trust for various purposes, including tuition, purchasing a home and to start a business. The will was signed on Feb. 3, 1993, barely a month before Houston gave birth to her daughter.

I found it odd that the statement above made no mention of real estate, rights to image and rights to music. According to Black Like Moi, Houston did not receive a large share of revenues from her work because Houston's label,Sony's Legacy Records, owned the catalog of her albums and paid the singer royalties for her performances. Because the late singer did not write her hit songs, she did not receive any revenues for those publishing rights.

There were also lots of advances that Whitney consistently received with Clive Davis's assistance, reports music-industry blogger Wayne Russo. The last big loan was reportedly from Clive for $1.2 million, though everyone knows it came from Sony and not from Clive, Russo writes.

“No way Clive would ever reach into his own pocket for anyone’” one former label employee tells him.

Russo estimates that the amount of money Houston owes Sony is approximately $38 million. Whitney Houston used to laugh off reports that she was broke, but now as sales of her albums increase any hope her family had of rolling in the dough have been dashed. According to Russo, the Houston estate would need to sell 5 million records in order to repay the singer’s debt to Sony Music.

The 48 year-old pop star, whose voice fueled her rise to global fame in the mid-1980s, was found underwater in a bathtub at a Beverly Hills hotel on February 11. An exact cause of death has yet to be determined, but authorities do not suspect foul play.

Well, I'm not sure I believe that part about Bobby Brown's family receiving Whitney's assets if Krissi does not survive to age 30.
Whitney loved her family and would not leave them out in favor of Bobby and his family, so I just do not buy this. Moreover, Whitney's lawyers really seemed to be good, so I would imagine they would have had her do the standard update her Will after her divorce from Bobby, so that if Krissi did not survive her or attain the age of 30, Whitney's family would benefit instead of Bobby's.

I think I am going to wait for the Will to be filed with the court. This is just more speculation.

I do hope Krissi has a Will, though.

#44 Every1lovesNippy

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Posted 09 March 2012 - 01:25 PM

View PostTerrence, on 09 March 2012 - 01:05 PM, said:

View PostEvery1lovesNippy, on 09 March 2012 - 03:49 AM, said:

View Postsinderella, on 08 March 2012 - 06:31 PM, said:

View Postremamamama, on 08 March 2012 - 03:07 AM, said:

Good to hear Bobby didn't get a single dime.

Never thought I would find use for this smiley in these times but here goes...... :wavetowel:

Not to be crass, but, hopefully Whitney's lawyers got Krissi to put her John Hancock on a quickie Will, b/c if anything untoward should happen (if she should slip on a banana peel, or if a lightening bolt should strike), without a Will, BBB would be made in the shade and Cissy could be out in the cold. Whitney's lawyers had better get on it, b/c stranger things have happened.

Not really. If there were no surviving child everything would go to Cissy. So God forbid anything happen to Krissy, Cissy would pick it up. But in the event that Cissy were no longer here it would be split equally between Gary, Michael, and Bobby. If they couldn't decide on the equal break down everything would be sold and the money added back to her estate which will be split equally for them. So no matter what, Bobby's not getting a huge payday from Whitney.

Sorry, but if Krissi were to inherit outright (as in after probate and the assets of the Trust have been distributed to the beneficiary) and if she were to die with no surviving child and no Will, Bobby would inherit from Krissi because he is her father. Cissy and Whitney's family would not inherit. So if Krissi died after age 30, with no Will, Bobby is golden.

However, if Krissi died intestate after probate of Whitney's estate and before age 30, the terms of the Trust would predominate, so that we would have to know what the Trust said about distribution of the Trust's estate (different from the Decedent's estate) upon death of the main intended beneficiary of the Trust.

I would add that we still don't know anything for sure because nobody has published a copy of the actual Will filed with the court.

#45 Petra

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Posted 09 March 2012 - 01:30 PM

i've seen the original will from 1993 and the changes made in 2000..is it really possible she didn't change it after the divorce? that would be just odd, i'm pretty sure her lawyers advised her on doing that, i don't see her giving bobby any of her hard earned money

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