It looks as if the family of Bobbi Kristina Brown does not want Bobbi Kristina to have her money yet. They are not finished earning trustee fees and finding ways to make a few bucks of the estate before giving it all to Bobbi. Of course that is not what they actually said. In an Atlanta court, what they actually said was that Bobbi would just give away all her money or spend it unwisely if she was allowed to have it right now and want to have her schedule of payments changed until they get a few more seasons of that reality show in their pockets. Bobbi would probably spend it all. But, Bobbi is 19 and can do whatever she wants with her money and I'm sure that her father has Bobbi on speed dial waiting for that phone call that says she has the money. Nick too. Oh, you think he is being nice to her just because he is crazy about her? That is really sweet and romantic of you.
Yeah, my trustees don't get paid at all, but I don't get my trust until I am 35 so no one can "marry me for my money" according to my family.
ReplyDeleteHow nice of them to control your life.
DeleteHa. I don't get mine til they die...which hopefully won't be for a long time.
DeleteI hope it isn't set up so that she receives everything at age 19. That would be very unusual.
ReplyDeleteSeriously fucked up situation. You know what they say, shit rolls downhill.
ReplyDeleteHmm...no underhanded, moneygrubbing motivations here...nope, not at all.
ReplyDeleteI hope the court completely shuts them down. Spend or save, it's hers to do with as she pleases. Parasites.
Blerg. I have no idea what's up with the screwed up spacing on my phone.
DeleteThis girl doesn't have a brain in her head...I'd hold back on the money also. Bobbi is an overdose waiting to happen.
ReplyDeleteShe would blow it all lol good for the court!
ReplyDeleteGiving her money now wld be like throwing a match into a gallon of gas. Dont do it.
ReplyDeleteI'm not sure what is right here. The people who want to control her money will get their cut, true...but it's also probable that she'd blow it all (pardon the pun) on drugs, users and losers if they give it to her. A few more years might give her time for rehab and reality checks, and she would be better off.
ReplyDeleteI agree with the family--there should be restrictions until she is at least 21, but NORM, is 25. This is not a scam. It is for her own good.
ReplyDeleteI agree with the family--there should be restrictions until she is at least 21, but NORM, is 25. This is not a scam. It is for her own good.
ReplyDeleteOT, but she looks just like a young Bobby Brown in that pic!
ReplyDeleteAll you have to do is look at this child's behavior to understand that she is not capable of handling this money right now.
ReplyDeleteThe trust I created for my nephew after my mother died doesn't give him the money until he is 30. I came into some money at 21 & it was all gone by 22. If she doesn't trust the current trustees the court should appoint new ones. But keeping large capital out of the hands of somebody in their early 20's is doing them a big favor in the long run.
ReplyDeletei hope she doesn't get the money
ReplyDeleteFrom Forbes: "The will — signed on February 3, 1993 — provides that Bobbi Kristina will receive 10% of the estate when she turns age 21, another one-sixth at age 25, and the full balance at age 30."
ReplyDeleteSo it is actually spaced out quite sensibly. Nearly 3/4 is being held back until she is 30.
http://www.forbes.com/sites/trialandheirs/2012/10/02/whitney-houstons-family-doesnt-trust-bobbi-kristinas-ability-to-handle-money/
I think if the agreement is what Jamie 2 posted, she should get her money.
ReplyDeleteDoes this girl have anyone in her life that isn't standing there with a hand out? Reminds me of the Jackson kids. Sad for these young ones to grow up feeling valued for their money not really loved.
When I was single, in my will I set it up so my niece and nephews wouldn't get my money until they were 30 (the exception being for tuition as approved by the guardian). Just wasn't sure enough they'd be smart enough to handle money until then - I was, but I was raised in a different time.
ReplyDeleteFor her sake, I wish she never had full access to all of the money. She's the product of two dimbulbs and her light's not shining too brightly either. Hopefully there's SOME non-relative who can dole the cash out to her sparingly so that she doesn't end up broke and desperate.
ReplyDeleteI am willing to bet that she will be left with MORE money if instead of being handed the full amount now, if the "trustees" earn/steal/take whatever they want but set up the leftover amount so that she gets a small percentage every year or so. If she gets a lump sum it'll be blown (literally :(
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ReplyDelete@katsm0711: Unfortunately, that's the way the will was drawn - she'll get what she gets and she can spend it as she likes.
ReplyDeleteTrustee fees are usually set by the court and kept under control. I'm not saying they won't make a nice income, but they can't pay themselves a million a year or anything close.
I'd be more concerned that she (BK) kills herself on coke on her first $2m pay-out. I'm not a lawyer, but I understand that the courts usually obey a valid will that hasn't been completed under duress. Whitney wrote the will in 1993; she had more than ample time to change it.
I agree that BK would be better served by having a responsible financial advisor set limits on her spending and try to conserve as much capital as necessary to see her through life.
It's just not how the will was drafted.
I also hope BK herself has a will now that leaves everything to somebody other than her next-of-kin dad.
@jamie I guess I read too fast. I didn't realize the arrangements were all done for Little Bobby. That's awful about your sister but shows integrity on your part that will benefit you for a lifetime.
DeleteThank for the research Jamie2. Looks like Whitney thought about it ahead of time. Maybe she's saving her from herself from beyond the grave. She got too much money too soon herself and it didn't turn out too well.
ReplyDelete@katsm0711: Sorry! I deleted the comment you referred to about my sister. It was too personal. Your comment makes sense to me, if nobody else. Thanks for the kind words.
ReplyDeleteAnytime @jamie
DeleteGiving her that money at 19 (she's a very, very young 19) may not be the wisest thing to do. She's too vulnerable to her own and other's whims. What a mess!
ReplyDelete@MadLyb:
ReplyDeleteRead the comments, I politely suggest. Read up to my comment at 10:29AM, blog time. Thanks.
Revell48- lots of people have trusts. I don't. But my dad did and his brother. I have other people I know who also have trusts they don't get until 35.
ReplyDeletePeople who are smart with their money have the sense to put some away for a rainy day. It shows that someone around Whitney had the brain to do that and to also keep the vast majority away from Bobbi K until she is a little older and wiser.
Isn't it surprising how little we care about Bobbi Kristina? I think it's because many of us (me at least) expect her to get the money and OD within a year. And there's really nothing anyone can do about that.
ReplyDeleteRevell48 - Just to clarify, non-celebrity trusts can be as little as 25,000 just to make sure that they have a cushion. For non-celebrities, that is a lot. Trusts are just to avoid death taxes.
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