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Long before her untimely death, Whitney Houston prepared her estate planning documents after the birth of her daughter Bobbi Kristina.
In her 1993 Last Will and Testament, Whitney Houston created a Testamentary Trust. Whitney wanted to not only protect her assets, she also wanted to ensure Bobbi Kristina had a sufficient amount of money to which she would eventually grow accustomed to as she grew older.
Being that Whitney Houston had royalty rights and sales that would allow the estate to grow in the future, the value of the estate reached $20 million by 2012. By 2015, Whitney Houston’s estate grew to $80 million.
Even with estate planning in place, the untimely death of Whitney Houston in 2012 caused a ripple in the family and there became a growing concern about Bobbi Kristina receiving 10% of the estate when she reached 21 years old. Was Bobbi Kristina ready to handle the $8 million distribution she was entitled to at 21 years old?