I was shocked to hear the details of Whitney Houston's estate plan last week. I assumed that after all the press surrounding the distribution of assets from estates belonging to Michael Jackson and Anna Nicole Smith that most celebrities would recognize that they need more than just a Last Will and Testament.
As many people are aware, Whitney Houston's Last Will has been submitted to the Probate Court in Atlanta, Georgia. Within a very short time period, information regarding the details of this document was available on the internet. Already we know who the beneficiary of her estate is as well as who the contingent beneficiaries are (in the case of the primary beneficiary passing away). As the process of probate continues, the public will find out Whitney's exact estate size and what the assets are comprised of, etc.
One way to avoid this public proceeding is to utilize a Revocable Living Trust. Such an estate plan removes the involvement of the probate court. This benefits every family by keeping the administration of the estate private and reduces expenses because there are no court fees. If you are interested in learning more about a Revocable Living Trust, please contact us at 888.222.1328.
About Morris Hall:
At Morris Hall, we have focused our legal practice on estate planning for over 40 years. Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, powers of attorney, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects. We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead. Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe. Contact us today at 888.222.1328 to schedule an appointment!
Contributed by MH attorney Katherine A. O'Connell