What the Death of Robin Williams Can Teach Us

By all accounts, Robin Williams had his estate plan zipped-up. He had a will and trust and even named professional trustees, so why is the family at odds over things after his death?

Grief impacts everyone very differently. As a suicide, it’s not just sudden but the nature of the death can complicate the grieving process.

From the latest reports, there is disagreement about how items are defined. A colleague of mine who is a professional appraiser has shared how contentious items with personal meaning but little value can wreak on a family. She commented that it’s interesting that so many parents who raised kids that argued over the last cookie expect their adult children to behave any better when it comes to settling their estate.

robinwilliams
photo credit: nbc.com

 

It seems Robin Williams put immense thought into his plan, but it sounds like there is some ambiguity and now both his wife and children who are still grieving are arguing over his things.

What Robin Williams Can Teach Us: It’s not enough to create the perfect estate plan. You have to tell those people who are impacted about your plan. Make it a part of normal conversations and allow your loved ones to ask questions and understand your wishes. You might not be around to appreciate it, but they will.

Celebrities Illustrate the Good, Bad and Ugly in Life Planning

The Forbes story The 10 Biggest Celebrity Estate Stories Of 2014 And What You Can Learn illustrate good planning, bad planning and the ugly side of family feuds after a loved one dies.

From complicated family issues for Robin Williams, to misinformation about “trust fund kids” by Phillip Seymour Hoffman, it’s easy to stop and gawk. However, it’s reported that more than half of all American’s die without a will.

I’m lucky that my parents shared their wishes with me and my siblings and completed their estate plans well before we needed to use the tools created.

When you turn 65 years old, according to the U.S. Department of Health and Human Services, you have a 70 percent chance of needing 3 or more years of long-term care. You will be on this earth and need someone to advocate for you, pay your bills, manage your household and ensure that you live the life the way you wish.

If you do nothing else, contact a local estate lawyer about a Durable Power of Attorney. It should cost a few hundred dollars and will prove to be priceless in the very likely event that you need it.

Don’t repeat the mistakes of the rich and famous. Deliver the ultimate gift to your loved ones by planning now.