Whitney Houston estate: the singer had $29,000 in her bank account and debts of more than $4 million
Whitney Houston had just $29,000 in her bank account at the moment of her death, while having debts of more than $4 million.
Whitney Houston’s financial situation was previously disclosed during her divorce from Bobby Brown in 2007, and it showed how the singer had managed to blow many of the millions she had earned during her career.
But while Whitney Houston, who sold more than 170 million albums, had blown vast swathes of her fortune, she still managed to leave assets worth around $6 million to her daughter Bobbi Kristina Brown.
The information has emerged from an income and expense declaration filed by Whitney Houston, and according to RadarOnline the documents also revealed that she had a life insurance policy worth only $300,000.
Whitney Houston stated she had $40,000 in cash, $225,000 in stocks and earned in excess of $1 million for performances.
But it was her real estate situation that truly underlined how she was in a financially precarious situation.
Whitney Houston’s assets included one property in New Jersey which was worth $6.5 million, but she also owed $3.247 million on the estate.
In addition, Whitney Houston owned a townhouse in Atlanta, Georgia, where daughter Bobbi Kristina now lives, which was worth $1.244 million.
However, the property was far from paid off, as she owed $1,046,603 on the home.
Whitney Houston’s other assets included the life insurance policy, which was worth $312,000 and $1.8 million dollars in jewelry and art.
Amazingly her retirement account was worth only $226, however her recording contract is listed as confidential, as it was considered separate property due to a prenuptial agreement Whitney Houston and Bobby Brown had.
The singer’s daughter, Bobbi Kristina Brown, is Whitney Houston’s sole heir, and the pop idol left everything to her.
With a total of $10,242,931 in various assets, and debts totaling $4,294,014, in theory it leaves her with an inheritance of $5,948,917.
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