Tag Archives: revocable living trust

What’s In Store For Robin Williams’ Estate and Family?

The initial shock of Robin Williams’ tragic death, apparently from hanging himself, is giving way to reflections of his memory and legacy. Another question many people are asking is what happens next for his family. He was survived by his third wife, Susan Schneider, to whom he was married for three years, and three adult children from his prior two marriages, whose ages range from 22 to 31. There is a realistic fear that Williams’ death left may have left them in financial distress.  Robin Williams Estate

In an interview with Parade Magazine in 2013, Williams lamented how he was required to change his lifestyle because of how much he lost in his two divorces (reportedly, $30 million). He said he returned to TV because of “bills to pay.” Williams also admitted to listing his Napa Valley estate for sale because he could no longer afford it.

Robin Williams’ publicist recently said that he was not in financial trouble and his comments were not to be taken seriously.  Regardless of whether his publicist Read more...

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Can Florida Millionaire Justify Adopting His Girlfriend?

John Goodman is the 48-year old multimillionaire from Palm Beach, Florida who recently made headlines when it was publicly revealed that he adopted his 42-year old girlfriend to help protect the family fortune.

john goodman adopts girlfriend

Goodman did this in the midst of criminal and civil legal proceedings pending against him.  They arose from the February, 2010 drunk driving incident during which Goodman reportedly ran a stop sign, killed a 23-year old man, and fled the scene.  When it was recently revealed that Goodman, in October of last year, had legally adopted his girlfriend, people across the country were outraged.

Goodman’s lawyer issued a statement defending the adoption.  He states that the adoption was done to protect Goodman’s children, not to shield assets from the family of the slain driver who is suing him.

While Goodman has been bashed across the country for his legal maneuver, it actually makes sense from a probate law perspective.  Years ago, Goodman placed $1.5 million into an irrevocable trust for his two children.  By investing that money Read more...

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Kiplinger’s article: Cut the Lawyer out of your Will?

Kiplinger’s Personal Finance Magazine has an interesting article that’s coming out in the March 2010 issue, about do-it-yourself estate planning.  It was written by Jane Bennett Clark, Senior Associate Editor:

You’ve been dragging your feet for ages on writing a will and drawing up other estate-planning documents. Now, to avoid the hassle and expense of hiring a lawyer, you’re considering using online forms to get the job done. Companies such as Nolo, LegalZoom and Rocket Lawyer allow you to do just that. Not only do they provide do-it-yourself estate-planning documents, but they also offer guidance on filling them out and general information on estate-planning issues.

The cost for such off-the-rack estate planning? As little as $50 for a simple will to $220 or so for a package that includes a will and a living trust. That’s cheap compared with the $300 a lawyer might charge for a simple will or the $1,000 or more that a comprehensive estate plan might run you. Still, you get what you pay for, says

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