We were so shocked to hear the news of Robin Williams. Once that shock wears off people often wonder, since he is a celebrity and has a lot of money, who gets his money?
Below is an article that talks about how Robin Williams had his estate plan in place. As an estate planning attorney, I understand the importance of having an estate plan. To hear about a celebrity that had his affairs in order is wonderful. He used a revocable living trust. This is a perfect document for a celebrity.
A revocable living trust allows you to place all of your assets into the trust while you are alive and upon your death it keeps all of you assets private from public record. Without this trust, if had a Will, that Will would have been filed in the court system and anyone could have gotten hold of the document and saw what the Will stated and what his assets consisted of. Because of this trust, the public will never know what Robin Williams' estate consisted of and who received his assets.
We sometimes hear about entertainers and celebrities who passed away and the long and drawn out battles in the court room. With Robin Williams, because he had his estate plan in order, I hope that it is a smooth process for the loved ones he left behind.
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