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Whitney Houston's Fortune

"Too Much Too Soon"

for Bobbi Kristina

10/3/2012 10:45 AM PDT BY TMZ STAFF
Exclusive Details

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Whitney Houston
's family wants to put the singer's fortune on lockdown to stop Bobbi Kristina from blowing her inheritance ... and to protect BK from financial leeches.

Cissy Houston and Pat Houston, Whitney's mom and sister-in-law, filed a request this week to modify Whitney's will. Specifically, they want to change the distribution schedule of the estate ... estimated to be worth at least $20 million.

Sources close to the family tell TMZ ... Cissy and Pat filed the documents because they think the current will gives BK "too much too soon" -- and they don't think she has any need for that kinda cash now.

We're told the family also wants to "protect [Bobbi Kristina] from herself" ... because she's vulnerable. In the documents, they claim 19-year-old Bobbi "is a highly visible target for those who would exert undue influence over her inheritance."

Bobbi Kristina, Whitney's sole heir, is currently scheduled to get her inheritance in three chunks -- 10% when she turns 21, just under 20% at age 25 ... and the balance when she's 30.

In their petition, Pat and Cissy don't mention what specific changes they are seeking to the current payment schedule -- but they say Whitney's intent was "to provide long-tern financial security and protection" for her daughter.

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53 COMMENTS

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16.

Sandra     

Bobbi will screw up her life as she had two screwed up parents who could not set good examples !! She is of legal age and her greedy rels. will have trouble with this one!!

758 days ago
17.

taz    

I'm sorry but if Whitney had truly cared about her daughter she would have put down the pipe or the straw or whatever and gotten some help. She let her life slide away because drugs were more important than her daughter and her career. No sympathy for those who don't try. Her daughter is headed down the same path.

758 days ago
18.

Tammy    

I understand their intent, but leave Whitney's will alone. How she specified the money being distrubuted to her daughter is how it should be distributed. If Bobbi squanders it, then that's on her.

758 days ago
19.

LK    

HISTORY MIGHT JUST REPEAT ITSELF !!!

758 days ago
20.

Carl    

I understand what they are trying to do and why, but she's not a child anymore. She's an adult and Whitney spelled out the way she wanted the money distributed. Unless she is on drugs or has mental issues do***ented by a professional psychiatrist, I don't see how or why it should be modified.

758 days ago
21.

Majestik    

They'll now pull a page out of the Priscilla Presley book of how to keep the entire estate away from your child. Granted, Lisa Marie was underage when her father died, I don't think this family can contest the Will being as she is an adult.
.
I also do not see how 10% of 20 mil, a whole 2 mil dollars, for five years of support is too much too little. Give her the 2 mil, if she blows through it, say, within a year, then go hit the courts.

758 days ago
22.

GoodOnPaper    

britney's father did a great job managing and growing her money under conservatorship. as long as they are not intending to dip into it, i don't see the harm in locking it up til she matures or at least have someone looking after it. 18 does not mean mature or wise to leeches.....

758 days ago
23.

dale12    

BK needs to kick her "pretend" Brother to the curb, then enroll in a 4 year College, & get an education...

758 days ago
24.

daisy     

i actually think the Will should be implemented - when she's 21 she'd receive about $2 million and then nothing more for 4 years. How quickly she wastes it may actually teach her the best lesson and prepare her for the next installment at 25 years old. If she's not emotionally or intellectually prepared now, her family has 2 years to help get her objective financial advice....(emphasis on `objective'!) But i suspect other commenters are right, they really just want to control the money....

758 days ago
25.

Sarah     

I assume their reality show never got off the ground so no w they want their grubby hand on BK's money.

758 days ago
26.

Harry    

Whitney Houston made a schedule when she wanted her daughter to receive her money. What right does anyone else have to try to a modify it. Its really sad how families will act when money is involved after a death. Between the mother and sister in law, Whitney employed one and took care of the other because of Whitney's death those checks have stopped flowing. So if something was to happen to BK, who would be in line to get the money. Cissy Houston. So why not try to keep her away from the money for as long as possible.

758 days ago
27.

Jenn    

Who's to say that she won't be mature enough to handle the money when she gets it at age 21? I think Whitney's family should leave things as they are until they are proven that Bobbi Kristina can't handle it.

758 days ago
28.

cass    

Pathetic!

Leave the girl AND her money alone, because YOU AREN'T GETTING ANY OF IT CISSY!

758 days ago
29.

jayman419    

These gold diggers are blowing their own arguments. The intention of the will was to provide for Bobbi Kristina. Not Bobbi Kristina and her aunt and grandmother.
If she'd wanted to provide for the long-term financial security of her only heir, she'd have set up a trust herself.
Like she can't afford legal advice? Bobbi Kristina should get her money when Whitney said.

758 days ago
30.

goodbye    

Some of those leeches are probably in her family.

758 days ago
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