Whitney Houston's will has been revealed and according to it, her 19-year-old daughter, Bobbi Kristina, is to get everything.
Whitney Houston passed away in February. The details of her will have just been released. The singer`s will is a 19-page document, which was released for public viewing yesterday, as it was officially filed in Atlanta, Georgia. The will was a matter of great public interest and everyone wanted to find out to whom will all of Whitney Houston`s riches go. According to the details of the will, the sole owner of all of Houston`s belongings is her 19-year-old daughter.
Even though the exact value of all of the items listed in the will has not been revealed, it is being speculated that Whitney Houston`s estate is worth around $20 million. All of the things that belonged to Whitney Houston have now been passed on to Bobbi Kristina. The things include money, personal effects, jewelry, cars and other belongings of Houston.
Whitney Houston`s mother, Cissy, has been named the executor, whereas her brother and sister-in-law will be the trustees for Bobbi Kristina`s newly acquired wealth. The money and property will be placed in a trust for Bobbi Kristina. According to the arrangements made, Bobbi Kristina will receive a chunk of her wealth when she turns 21, the next chunk will be passed on to her when she is 25 and the remaining balance will be given to her at the age of 30.
Bobbi Kristina is Houston's only child. Had there been more, than the property would have been divided between them, since the will mentions that the belongings will go to Houston`s surviving children. The will also mentions that the trust will give money to Bobbi Kristina for different purposes including paying tuition fees, buying a house or starting a business.
Whitney Houston first made her will on the 3rd of February, 1993 - a month before she gave birth to her daughter. At that time, Houston did not know that Bobbi Kristina would be her only child. Both mother and daughter shared a close bond, despite some occasional fights between the two.
Whitney Houston was found dead on the 11th of February, a day before the Oscars. She was found dead in a bath tub of her hotel room.