The premature death of pop star Whitney Houston should serve as a concrete reminder to financial advisers to make sure that wealthy clients properly fund the trusts that they have set up for their heirs and that they update estate documents every few years.
“Celebrity stories like this are a great educational tool to share with clients and highlight what should be done, what was done wrong and what was done right,” said Andy Mayoras, a Michigan estate planner.
At this point, it is too early to say what kind of shape Ms. Houston’s estate was in when she died.