Bobbi Kristina is set to inherit all of mom Whitney Houston’s estate. But will there be any money for her? Opinions vary widely over the condition of her finances.
Houston first created a will in 1993, when Bobbi was born. She amended it in 2000. In it’s current form, it stipulates that “any child of mine who survives” will receive all furniture, clothing, personal effects. jewellery and cars, as well as the balance of the estate.
It’s clear that Whitney had Bobbi in mind although she is not mentioned by name. Proceeds from the estate will be placed in a trust and Bobbi will have access to portions of it when she turns 21, 25 and 30-years-old.
If Bobbi dies, the estate would go to relatives and ex-husband Bobby Brown. Otherwise, Brown gets nothing. They were married in 1992, and Bobby was cut out of her estate by a prenuptial agreement.
But what estate? Opinions vary widely on how much if any money Houston had.
There were reports that houses she owned in New Jersey and Atlanta were arrears on mortgage payments and taxes and were facing foreclosure. But a rep denied the houses were being sold to satisfy debts.
She was also reportedly heavily in debt to her record label and had been living off of advances against future albums. Other reports claim her estate could generate as much as $10 million a year for memorabilia and record sales.
The estates of late artists like Elvis Presley and Michael Jackson continue to generate millions of dollars a year.