Robin Williams' estate plan: Good, but not great

Share this post:


rob-williams-estate

Robin Williams was a world-class comic who made millions and tried to take good financial care of his children, yet his estate planning talents may have not matched his comedic genius.

The Oscar-winning actor was found dead on August 11 in what police are calling an apparent suicide. The 63-year-old had battled substance abuse problems for decades and had recently checked into a rehab facility.

It is quite possible, experts say, that Williams did not leave a will—though that may not be a bad thing.

"It's very likely he used a revocable trust. A lot of our California clients" take that approach, said Daniel Rubin, a partner at Moses & Singer specializing in trusts and estates.

Rubin explained that because the probate process tends to be a lengthy one in California, wealthy people there—and elsewhere—often opt to create a revocable living trust instead of a will. They make themselves the trustee, and in the trust documents indicate how they want their assets distributed. Then when they die, the assets are allocated without any public review.

Williams did, however, leave money in a trust for his three children, according to TMZ, unlike Philip Seymour Hoffman or James Gandolfini.

Williams' publicist stated several days after the actor's death that that trust is no longer part of Willams' estate plan.

But experts say the kind of trust Williams had in effect at one point could have been structured much more effectively.

READ FULL ARTICLE: http://www.cnbc.com/2014/08/12/robin-williams-estate-plan-good-but-not-great.html

Certified Trust and Estate Planner (CTEP™)

ctep-2Certified Trust and Estate Planner (CTEP™) is one of the most recognized Estate Planning and Trust Planning certifications in the world. This certification comprehensively deals with all the aspects of Estate Planning like Intergenerational Wealth Transfer, Wealth Preservation, Trust Planning, Succession Planning Estate and Gift Taxation.

The Chartered Trust and Estate Planner (CTEP) Program is an International Certification Course focused on Estate and Trust Planning in Philippine context which forms a very important subset of Personal Finance, Financial Planning, Wealth Planning or Wealth Management. The program allows the participants to develop skills in wealth transfer, succession planning, family wealth preservation advisory skills.

The program is ideal for Entrepreneurs, Family managed business owners, Financial Advisors, FinancialConsultants, Wealth Managers and Financial Planners to develop cutting edge knowledge in Estate Planning, Trust Planning, Succession Planning, Private Banking, Family Office, and Financial Advisory.

If you are financial professional, the CTEP program will help you to better position as the advisor to affluent individuals who havethese needs and who can assist with your client's total wealth management.

Practitioners who complete this program will gain the best of both worlds: estate planning ideas plus asset repositioning implementation. By having the Chartered Trust and Estate Planner (CTEP) Designation, you will learn ways to unlock this wealth by providing invaluable advisory services.

ctep-3   ctep-4

Benefits of the CTEP™ Credentials and Designations

  • Increase Your Earnings – CTEP™ Designation Holders earn 25% more than their non-certified colleaguesaccording to the 2013/2014 Compensation Guide by American Academy Financial Management.
  • Advance Your Career – CTEP™ Certification is documented evidence of expertise and experience, representing a high level of skill, knowledge and professionalism.
  • Enhance Your Marketability and Job Security – Stand out against other applicants in a tough job market. Prepare yourself for greater on-the-job responsibilities. Validate your competency in Finance Domain.
  • Gain Professional Visibility and Credibility – The CTEP™ Credentials and Designations are accepted worldwide as the standard of excellence in the Financial Services Industry.
  • Distinguish Yourself from Your Peers – The CTEP™ credentials are recognized in the hiring and promotion policies of leading organizations, including the US Department of Labour , Wall Street etc.
  • Impact Your Company’s Bottom Line – Research conducted by various organizations that CTEP™ Designation Holders were able to perform better than their non-certified peers. The knowledge and skills gained on attaining the Certifications from CTEP™ helped in better client interface and better technical skills leading to overall growth of the Company and the Individual.