Robin Williams’ estate plan was fairly solid, but what fancy footwork did his lawyers have to do over the years to keep it from failing? Williams’ publicist disavowed the 2010 trusts that came to light, claiming they did not reflect his estate plan at the time of death. The trusts became public when a co-trustee passed away, creating a public issue for filling the hole in the line of succession. After these trusts became public and the gap was filled, the trustees did not waste time covering them up, which was presumably easy considering the decanting methods available. However, had Williams’ trust given the trustees power to appoint a replacement, there would have been no need to file a public appeal. With serious legal power on his side, Williams avoided several disasters in carrying out his estate.
See Scott Martin, Robin Williams Hid His Assets After All, but Any ILITs May Have Backfired on His Planners, Trust Advisor, November 20, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
