Massachusetts fans of Robin Williams may already know that despite what he believed to be a well-constructed estate plan, his widow and his children are still in court. Last year, court documents were filed regarding how the late actor's assets should be classified and therefore divided. Recently, Williams' widow filed documents indicating that she was not receiving enough money from the trust's Reserve Fund to maintain the home he left her.
She believes that his three surviving children are withholding money from the fund to which she is entitled. She claims that the language for the Reserve Fund says that she is to receive any excess net income each year, but she is not receiving it. Further, the money she is receiving is not enough.
Williams' children, on the other hand, say that there is plenty of money in the fund for the home. They believe that his widow is simply looking for a steady income from the trust, but that is not what their father intended. The children believe that she is trying to manipulate the language of the trust to boost her financial position, and they view it as an insult that she is attempting to thwart their father's wishes.
There are times when even the best laid plans are questioned and challenged by an heir or beneficiary. In most cases, that reason is a dispute regarding who receives what assets. In other cases, the dispute surrounds the sum of money each party receives under the provisions of a will and/or trust. Massachusetts residents may want to discuss how to eliminate -- or at least drastically reduce -- the possibility that family members could end up in court contesting their wishes.
Source: People, "Robin Williams' Children Claim Their Father's Widow Is Trying to 'Manipulate' His Estate to Get More Money, New Court Documents Show", Jodi Guglielmi, Aug. 19, 2015