As the world mourns the loss of Whitney Houston, her fans have continued to purchase her music, earning money for her estate. Like many celebrity deaths, Houston’s posthumous career could continue to make her daughter and other members of her estate a significant amount of money. While most Maryland residents can’t hope to make the millions of dollars that Houston could potentially earn, through proper estate administration, business owners in Frederick County may be able to continue to provide for their loved ones in death.
By the weekend after her death, Houston’s record sales were 60 times higher than the week before. Her hit “I Will Always Love You” was downloaded 195,000 times within one week of her death and her music was streamed through online music providers 2.4 million times in a two-day period. Although The Washington Post predicts that Houston’s post-mortem revenue will pale in comparison to Michal Jackson’s, it is clear that the singer will continue to make money for her estate even though she will no longer be singing.
Not only will fans continue to remember Houston through her music, but she recently finished filming a movie that will release in August.
While it is unclear if Houston has a will, this story illustrates the need for competent estate planning and administration. Much like Houston, Marylanders have the ability to earn money for their estates after they die, but without a plan, there is no way to ensure that the income, property or revenues will ever get to the correct parties. Only by consulting with an estate planning attorney can Maryland residents truly know their loved ones will get what they have intended.
Source: The Washington Post, “Whitney Houston’s death sparks outpouring that will benefit estate though questions remain,” Feb. 14, 2012