It seems nobody can resist reading the juicy details of the life and death of a beloved celebrity and I am no different.
But some of the stories are simply salacious, while others are instructive. This one I found on Yahoo Finance fits into the latter category.
According to the story, the actor and comedian Robin Williams apparently didn’t leave a note prior to taking his own life last week, but details that have come out showed his estate was left in good shape, even if he might have been having financial problems, which some stories say was the case while others deny it.
What we do know from documents unearthed is that Williams in 2009 set up a trust for his three children who ranged in age from 22 to 35.
According to the story, the trust documents say that when each child turned 21 he or she would get one-third of the cash set aside for them. When they turned 30, they each would get their full share. The payout was not dependent on Williams’ death. That means he felt it was better for them to have the money while he was still alive. As it turned out, that was only partly true. But the idea is that by making lifetime distributions he could guide them and watch them build their lives responsibly.
The story did not say how much was in the trusts but said he had a significant amount of money outside of the trust and that his wife, Susan Schneider, would certainly get a healthy amount.
His net worth was once estimated at $130 million, the story said, but in 2013 he said he was nearly bankrupt. He reportedly paid his first two wives $30 million combined. Another report said he was worth about $50 million at the time of his death. He had put his $35 million ranch in Napa up for sale because he couldn’t afford it any more, the story said.
In 2013, he took a part on a TV sitcom because he needed the money. The show, “The Crazy Ones,” was cancelled after one season.