Changing Whitney’s Estate Plan

Many people do not realize that their estate plans can be changed after they pass away. Although, it is rare, it does happen in some cases. Whitney Houston’s estate is a recent example of when an estate plan could be changed.
Houston left the bulk of her estate in a testamentary trust for her daughter, Bobbi Kristina. 10% of the trust assets are to be distributed to Bobbi Kristina when she reaches the age of 21. Another sixth of the assets are to be distributed to her when she reaches 25. The remainder goes to Bobbi Kristina when she reaches 30.
Houston’s mother and sister-in-law have recently filed a motion to change the trust distribution. They claim that Houston wanted to provide lifetime financial security to Bobbi Kristina and the trust is not adequate to do so. They have not stated what changes they want made and are asking the Court to make the appropriate changes.
When an estate plan does not adequately fulfill the deceased’s intentions is one time when it might be changed. In Houston’s case it is unlikely that the Court will makes changes. Houston created the plan 20 years before her death, so she had plenty of time to make any changes if it did not fulfill her expectations.

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