London, Oct 29: Cissy Houston has reportedly backed off her attempt to keep late singer Whitney Houston’s money from her daugther Bobbi Kristina for years.
Tmz.com reports that Cissy and Pat Houston (co-executors of Whitney’s estate) had filed legal papers hoping to change the way Whitney’s fortune would be paid out to 18-year-old Bobbi because they felt it was “too much, too soon”.
As it stood, Bobbi was to receive her money, an estimated $20 million, in three separate chunks – 10 percent when she turns 21 ($2 million), just under 20 percent at the age of 25 ($4 million) and the remainder when she turns 30 ($16 million).
Now, we’ve learned that the case has been dismissed after Bobbi and Cissy reached an agreement and sources tell us Whitney’s originally plan for the payout was virtually unchanged.
Still, we’re told both Bobbi and Cissy are satisfied with the plan and are happy to put the case behind them.