World renowned comedian, actor and entertainer Robin Williams took his own life recently and the majority of discussion about this unfortunate event has revolved around celebrating his talents and of bringing to light the dangers and struggles associated with depression. While it is difficult to get past the sadness of losing someone who was so popular and so loved, one small positive to take from this is that Williams took the necessary measures to ensure that his children would be taken care of by setting up a trust prior to the unfortunate event.
In 2009 Williams had the foresight to set up a three part trust so that his three children would be financially secure. The exact amount of money set aside in the trust has not been released but details of the structure of the trust have come out. Williams’ three children were set to get the first third of their share upon reaching age 21, the second third at age 25 and the remainder of the funds at age 30 and the trust was designed to distribute independent of the star’s death.
Setting up a trust or designing a will is a necessity – and not just for people who have tremendous amounts of money. Division of funds and property can create an ugly scenario for remaining family members and can result in disagreements, physical altercations and possibly even litigation. Creating a sensible legal plan for distribution of your assets following your death can ensure that your funeral and burial wishes are followed, it can eliminate a tremendous source of stress for your loved ones and it can ensure that your spouse and children are taken care of in accordance with your desires. Drafting a will also expedites the entire process for your remaining loved ones and eliminates potential hold ups as a result of infighting over your property.
A will shouldn’t be seen as accepting a sign of your own mortality, nor should it be something that feels taboo to talk about. Setting up a will or trust is a necessary step in planning for the future of your loved one and it most certainly shouldn’t be put off until it is too late. If you live in California you can get expert assistance in planning your future with an appropriately designed trust or will by contacting an experienced Los Angeles attorney.
Axis Legal Counsel represents clients in numerous kind of probate matters, including wills and codicils, small estates, trusts, revocable trusts, living trusts, probate, estate-planning, probate administration, probate litigation, will contests, trust litigation, and numerous others. For information on retaining Axis Legal Counsel to represent you with respect to any probate, wills, trusts, or estate matter, contact firstname.lastname@example.org or call (213) 403-0130 for a confidential consultation.