Whitney Houston had just $29k in her bank account

 

It has emerged Whitney Houston had just $29k in her bank account while having debts of more than $4m.

The late singer's financial situation was disclosed during her divorce from Bobby Brown in 2007, and it showed how she had managed to blow many of the millions she had earned during her career.

But while the star, who sold more than 170 million albums, had blown vast swathes of her fortune, she still managed to leave assets worth around $6m to her daughter.

The information has emerged from an income and expense declaration filed by the I Will Always Love You star, and according to RadarOnline the documents also revealed that she had a life insurance policy worth only $300k.

The Grammy award winning singer stated she had $40k in cash, $225k 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.
Her assets included one property in New Jersey which was worth $6.5 million, but she also she owed $3.247 million on the estate.
In addition she owned a townhouse in Atlanta, Georgia, where daughter Bobbi Kristina now lives, which was worth $1.244m.
However the property was far from paid off, as she owed $1,046,603 on the home.
The singer's other assets included the life insurance policy, which was worth $312k, 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 she and Brown had.
Bobbi Kristina is Whitney'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.


Culled from Daily Mail