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article imageRobin Williams set up 3-part trust fund for his kids amid money trouble

By Business Insider     Aug 12, 2014 in Entertainment
Robin Williams reportedly didn't leave a note before taking his own life Monday, but the actor did have his finances in order.
In 2009, Williams set up trust funds for his three children: Zachary, 31, Zelda, 25, and Cody, 22.
TMZ obtained Williams' trust documents, which stated:
"When each turned 21 they got 1/3 of the share. When they turned 25 they got half of what remained. When they turned 30 they each got their full share. The trust was not dependent on Robin's death. The kids received their money, although Cody and Zelda have not been paid in full because of their age."
Williams' net worth was once estimated to be near $130 million, but in 2013, he admitted to Parade magazine that he was on the verge of bankruptcy after two divorces — despite his films grossing more than $5.1 billion worldwide.
"Divorce is expensive," Williams, who was married to his third wife at the time of his death, explained to the mag. "I used to joke they were going to call it 'all the money,' but they changed it to 'alimony.' It's ripping your heart out through your wallet."
Williams reportedly paid his first two wives more than $30 million in combined divorce settlements, and according to Celebritynetworth, is currently worth around $50 million.
Williams also revealed to Parade that he was selling his $35 million house to help cover his debts.
"There are bills to pay. My life has downsized, in a good way," Williams said. "I'm selling the ranch up in Napa. I just can't afford it anymore."
Williams, 63, was found dead last night in an apparent suicide. The sheriff's coroner's division said it suspects the death was a suicide due to asphyxia.
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