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Trustees move to protect Bobbi Kristina Houston's assets

Florida residents who have trust administration concerns may be interested to hear that the trustees appointed by the late Whitney Houston are moving to change the current trust payment schedule for Whitney's 19-year-old daughter, Bobbi Kristina. Cissy Houston, Whitney's mother, fears that her granddaughter may be a target for unsavory influences seeking to benefit from the girl's celebrity status and seemingly unlimited resources. To protect Bobbi Kristina's long-term financial security, Cissy Houston now wants to make changes to the trust's provisions.

In hopes of making the desired changes, the trustees filed legal documents indicating that the current payment schedule is in conflict with Whitney's intent to provide protection and financial security for the remainder of her child's life. The petition also states that those responsible for trust administration fear that Bobbi Kristina, given her youth, will waste trust assets if payments are not altered.

Even though the late singer gave her mother and other trustees the right to administrate the trust, those individuals cannot change its basic provisions without taking the appropriate legal action. The purpose of any trust, whether it is established here in Florida or in any other state, is to protect the decedent's assets and ensure that they pass to the desired heirs after death. Since that is the case, the provisions put in place by the trust's creator can't be easily altered without the help of an attorney.

Still, if trustees can prove that compliance with the trust's provisions would interfere with its purpose, the court may allow them to change the payment schedule. Bobbi Kristina's trust does include a spendthrift clause, which indicates that Whitney had concerns about her young daughter's ability to manage the funds.

Source: Times Live, "Houston's estate trustees bid to change daughter's payments," Oct. 2, 2012

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