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February 2016 Archives

Bobbi Kristina's estate administrator sues Cissy and Pat Houston

From the untrained eye, it would seem that the relationship between Bobby Brown and the family of the late Whitney Houston would get better after the death of the pair’s daughter Bobbi Kristina Brown last year. Before her death, a trust was created that named Bobbi Kristina’s grandmother Cissy Houston and her aunt Pat Houston as co-trustees. So when the trust became effective upon Bobbi Kristina’s death, it held nearly all of the assets left to her by Whitney Houston, including royalties earned from music that still are being paid.

A lesson in estate planning from David Bowie

The death of David Bowie was the latest, great loss for the music industry. The 69 year old transcended music, and had a profound influence on art and fashion. While he will be most famously remembered for his music and influence on a generation of musicians, the structure of his will and how assets are to be distributed can serve as a model for large estates.

Mistakes all executors should avoid

Being an executor is an important, yet likely thankless job. Settling a person’s estate entails paying bills and distributing property according to the person’s wishes. But this may sometimes be easier said than done; especially for the uninitiated. The job of an executor can be demanding and time consuming because it involves having access to the correct records to administer the estate, as well as the patience to meticulously track down information.

Will you make good financial decisions as you age?

When you think about your ability to make financial decisions, do you think that you do well with your money? For those who have sound spending and saving habits, this may not be a problem. But for those with tendencies to splurge when splurging is not ideal, this could be a problem as they get older.

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