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Nearly one month after Whitney Houston’s sudden death, her last will and testament has been released.
The 19-page document, obtained by Inside Edition, was read March 7 in Atlanta, where it was filed. Not surprisingly, Houston’s daughter, Bobbi Kristina Brown, 19, will receive all of her mother’s money, furniture, clothing, personal effects, jewelry and cars.
PHOTOS: Fans and Loved Ones Honor Whitney Houston
As for the money: Houston’s riches will be placed in a trust until Bobbi Kristina turns 21. She will receive a portion at 21, more when she turns 25 and the full sum on her 30th birthday. Fattening the trust are customary licensing fees from her mother’s funeral footage. A Houston family rep tells The Hollywood Reporter that “clip licenses are being handled on a case-by-case basis,” while one source puts the cost for exclusive rights at $150,000.
The will was first drafted in 1993 and amended in April 2000, while Houston was still married to Bobby Brown. Alhough her ex-husband is mentioned in the will, he receives nothing. Had Bobbi Kristina failed to outlive her mother, Houston’s assets would have been divided between Brown, her mother and her two brothers.
Houston’s mother, Cissy, was named executor of the will, with her brother Michael and sister-in-law Donna named trustees.
This week’s issue of The Hollywood Reporter magazine explores the singer’s sizable posthumous product boost and exactly who is benefiting.
PHOTOS: Iconic Singer Whitney Houston’s Life and Career in Pictures
Since Houston’s death, her albums have sold 648,000 units, benefiting Sony Music and the Houston estate. With a royalty rate of $1 per album sold, the Houston family has made nearly $700,000 since Feb. 11. Additionally, Houston’s Sony-owned Arista label could see $1.3 million added to its bottom line. The label also has made about $1.7 million from single sales, with 2.4 million tracks sold. iTunes and other digital retailers will split $784,000, while Houston would have made $252,000.
Dolly Parton, who wrote Houston’s 1992 smash hit “I Will Always Love You,” has pocketed $70,000 from sales of the single alone. The iconic ballad has sold 735,000 tracks since Houston’s death. Warner Bros. also has benefited from a sales boost of The Bodyguard with 175,000 DVDs sold.
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