The famous musician Whitney Houston was apparently caught up in an insurance feud against her mother sometime during the year of 2009. When Whitney's father (John Houston) died in 2003, he left an insurance policy of about 1million dollars for which Whitney was named as the beneficiary. Her mother however sued her claiming that the life insurance money was actually for her benefit.
Her attorney alleges that Whitney had agreed with her father that the money would be used to pay off a mortgage that Whitney held over John and Barbara Houston’s home. Apparently, Whitney lent her father $723,000 in 1990 and this loan was secured by a mortgage against his house, payable to Whitney. Barbara’s lawsuit claims that the life insurance was purchased to pay off this mortgage, and the remaining balance was to be turned over to Barbara. Despite more than five years having passed since John Houston died, Whitney never turned the money over to Barbara or even released the mortgage, as she was required to do, according to the lawsuit.
My Take:
Insurance policies are paid to the named beneficiary. People name the beneficiaries of their life insurance policies because they want and expect that person to keep the money. If John wanted his daughter and wife to share the money, then he should have names both of them as his beneficiaries and clearly stated what he wished. The claim that Whitney was to turn over the rest of the money after releasing the mortgage should have been made clear in the will. Now what Barbara only has is word of mouth which although may be used is unfortunately over-weighed by the will which clearly names Whitney Houston as the sole beneficiary.
We can only hope that Whitney will look past the legalities of this case and share the money with her mother because she definitely needs it more than Whitney does......
No comments:
Post a Comment