Posted on 08/13/2014 1:36:36 PM PDT by SeekAndFind
The initial shock of Robin Williams’ tragic death, from an apparent suicide, is giving way to reflections of his legacy and memory. Another question many people are asking is what happens next for his family. He was survived by his third wife, Susan Schneider, to whom he was married for three years, and three adult children from his prior two marriages, whose ages range from 25 to 31. There is a realistic fear that Williams’ death may have left them in financial distress.
In an interview with Parade Magazine last year, Williams lamented how he had to change his lifestyle because of how much he lost in his two divorces (reportedly, $30 million). He said he returned to TV because of “bills to pay.” Williams also admitted to listing his Napa Valley estate for sale because he could no longer afford it.
Public records about Williams’ real estate show that they have significant value. His Napa Valley mansion, which rests on 653 acres and is named Villa Sorriso (translated to 'Villa of Smiles'), has been on the market since April for $29.9 million. Williams also left behind a 6,500-square-foot waterfront home in Tiburon, California, valued at roughly $6 million. The two properties are subject to mortgages, according to public records, that totaled $7.25 million as of 2011. This means that Williams left behind real estate with equity of around $25 million, depending on what Villa Sorriso can command in a sale.
How much more than that did Williams leave behind for his heirs? While he was reportedly worth around $130 million two years ago, that figure seems well off since Williams later said that he was close to bankruptcy. Recent estimates have pegged his net worth at $50 million, which may also be high based on his reported financial struggles.
(Excerpt) Read more at forbes.com ...
The news coverage is going to be worse than Anna Nicole Smith and Michael Jackson. For pity’s sake, why can’t they leave the poor family alone.
Given that he left his first wife for their child's nanny, I'd say the first one deserves her share of whatever. Then the nanny dumped him a few years ago. Seems it isn't easy to live with a junkie drunk. Sorry, fans; that's the long and short of it.
What does that have to do with whether I consider it my pressing business what happens to the man’s estate?
The article is good, but omits one key point...for trusts to be OUTSIDE the estate...i.e. not whacked by the government, when they are set up and funded, they must be IRREVOCABLE..the grantor can’t change his mind and/or exercise any control over the assets. This is the great quandry for many wealthy people. If you have properly drawn wills, using a simple marital trust, there are no estate taxes due until the second spouse dies...thus estate planning is for the benefit of the next generation, and involves the grantor giving up control of some assets while still alive..As a recovering addict, and serial wedder, I suspect Williams realized that at any time he could fall off the wagon(s)..thus he wanted to make sure that above all else, his kids were taken care of..
Once the IRS gets done with his estate, there may not be anything left. His estate is up there in the category where it gets dinged at 55% over a certain amount. They won’t have that kind of cash. So his wife and children will have to sell assets to comply with the IRS’ demands.
What sucks about all this is Williams earned a big pile of money and at the end of his life, Big Brother swoops in and takes a majority of it. I hope for his family’s sake he did some estate planning, but I doubt it.
What kind of trees are those? Is that real ceramic tile? Which room did Robin Williams stay in? Who do you think sat in those chairs?
Pick his financial bones clean.
While I thought Robin was a good actor and appeared to be a decent guy, I find myself resenting his passing completely putting the death of American film idol, Lauren Bacall in second class status.
Lauren was a unique American idol, the likes we will never see again- a true American treasure.
Lauren’s body of work as an award winning stage and film actress far out weigh those of Robin Williams.
I was just telling someone that that's what Michael Jackson did to Farrah Fawcett.
-PJ
You speak rational.
$50-130 million. Yeah, I’d like be be that bankrupt.
Yes. I remember that. Shame to be practically igored for th(at creature. (Jackson)
August seems to be a deadly month for stars. So many die in this month..Elvis, Marilyn..
LOL!
Just reminding the entertainment industry how the rest of us cope . . .
I can’t believe Williams only got $75,000 for “Aladdin”.
I thought he surely had a back-end deal that gave him a percentage. He made a bad deal on that movie.
That’s EXACTLY what happened with this guy, I’ve been daring libs on Huffington all night to prove me wrong. He was completely destroyed by liberal judges and California taxes. He literally went from a fortune of $130 million to bankruptcy because of the very liberals he fanatically supported and promoted. The fact is Robin didn’t get just a taste of karma, he got the nuclear bomb of karma. And notice how many of his lib friends stepped up to help him...ZERO. Where’s the socialism Hollywood?
Absolutely, 100%. His estate is based in San Fran, home of the Queen Bitch of the Universe Pelosi who no doubt will strip his bones to every last atom.
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