Robin Williams Set Up A 3-Part Trust Fund For His Kids Amid Money Troubles Before Death
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Robin Williams with his family (from left to right): Sons Zach and Cody, ex-wife Marsha, and daughter Zelda at a screening of "House Of D" in 2004.
Robin Williams reportedly didn't leave a note before taking his own life Monday, but the actor did have his finances in order.
In 2009, Williams set up trust funds for his three children: Zachary, 31, Zelda, 25, and Cody, 22.
TMZ obtained Williams' trust documents, w hich stated:
When each turned 21 they got 1/3 of the share. When they turned 25 they got half of what remained. When they turned 30 they each got their full share. The trust was not dependent on Robin's death. The kids received their money, although Cody and Zelda have not been paid in full because of their age.
While TMZ does not know the amount in the trusts, the site reports: " Robin had a significant amount of money outside the trust and his current wife, Susan Schneider , will almost certainly receive a significant amount."
Williams' net worth was once estimated to be near $130 million, but in 2013, he admitted to Parade magazine that he was on the verge of bankruptcy after two divorces — despite his films grossing more than $5.1 billion worldwide.
"Divorce is expensive," Williams, who was married to his third wife at the time of his death, explained to the mag. "I used to joke they were going to call it 'all the money,' but they changed it to 'alimony.' It's ripping your heart out through your wallet."
Williams reportedly paid his first two wives more than $30 million in combined divorce settlements, and according to Celebritynetworth, is currently worth around $50 million.
Williams also revealed to Parade that he was selling his $35 million house to help cover his debts.
"There are bills to pay. My life has downsized, in a good way," Williams said. "I'm selling the ranch up in Napa. I just can't afford it anymore."
Williams added that, "the idea of having a steady job is appealing," and in 2013 he returned to TV as the lead on the CBS sitcom "The Crazy Ones."
The show, co-starring Sarah Michelle Gellar, was cancelled in May after just one season.
“Here he was in his 60s and forced to take a role on television for the money,” a source close to Williams told Radar Online. “It’s just not where he thought he would be at this point in his life.”
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