Prior to his recent death, Robin Williams had publically lamented his economic losses during his lifetime. Although he had earned millions he had lost more than $30,000,000.00 to his two divorced wives. His third and current wife was living in a separate bedroom at the time that he committed suicide. Possibly the third divorce was on the horizon.
However, he did have his Estate Plan in place and did use one Trust to hold his Real Estate and another Trust to provide for his adult children from his first two marriages. The terms of the Trusts are private as his assets were titled into the name of both Trusts, avoiding the publicity, expense and delay of Probate Court.
Even if you have a Living Trust, or another type of Trust, if the assets are not titled into the name of the Trust they will go through Probate Court making them public record, plus you will pay Court Costs, Executor’s Fees, and you will have the delay of the slow Court System.
Even if our assets are only a house, a savings or investment account, we still want to avoid the Court Costs, Executor’s Fees, Delay, and Publicity of Probate Court.
At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.