It should come as no surprise to anyone that the more an estate is worth, the more interest there is in an estate and the more fights there are over the estate. This is the reason that celebrity estates are often discussed and that they often get messy. People want to know what is in the estate plan and those who could possibly gain from the celebrity estates want to fight over them. It is the reason that people are still arguing about Michael Jackson’s estate. It is also the reason that Whitney Houston’s estate has been in the news.
As you might know, Whitney left the bulk of her estate in trust for her daughter, who gets parts of that inheritance when she reaches different ages. There is now a dispute about that as Whitney’s mother and sister-in-law do not believe that the estate plan Whitney made adequately fulfils her intentions. They believe that Whitney wanted to ensure that her daughter was always financially secure and that Whitney’s plan does not accomplish that. They are asking a Court to make changes to Whitney’s Trust.
It is unlikely that the Court will agree with the mother and sister-in-law. However, this is a case worth watching as it will give an example of when a Court will change a Trust and when it will not change it.
Stephen A. Mendel, Estate Planning Attorney
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