In Texas and across the country, estate administration can be challenging when a wealthy person dies. In those instances where the deceased is a celebrity, opportunities may exist for the estate to earn substantial income from the sale of products related to the individual. Nowhere is this more true than with a music icon. We have seen it over the last three years with Michael Jackson, and we may soon see it again with the estate of Whitney Houston.
Speculation indicates that Houston left a last will and testament and that estate planning and estate administration details have been ongoing. It is believed that the singer's 18-year-old daughter, Bobbi Kristina Brown, is the primary beneficiary of her mother's estate. Since her untimely death, sales of Houston's music have soared and are expected to increase in the coming months.
While no one expects the Houston estate to realize gains equal to that of Michael Jackson, her greatest hits album sold 50,000 copies in one day following her death. It is anticipated that artist royalties could earn the estate as much as $10 million over the next year. Moreover, a Sony TriStar Pictures film, "Sparkle," is due for release this fall. The estate is positioned to reap substantial rewards from the film.
Texas readers will be watching in the days and months ahead as details of Houston's estate emerge and estate administration takes center stage. Important decisions will be on tap for those charged with guiding the estate to take full advantage of income opportunities. The goal now is to organize the estate for maximum benefit and long-standing profits as her family and fans continue to seek ways to remember a unique person and her timeless music.
Source: ABC News, "Whitney Houston's Estate Expected to Get Boost After Death, But Less Than Michael Jackson," Susanna Kim, Feb. 14, 2012