Robin Williams net worth: Actor set up 3-part trust fund for children before death

Robin Williams in 'Good Will Hunting'

For decades, the stellar on and off screen performances of Academy Award winner Robin Williams touched the hearts of many, yet no one is prepared to hear the comedian's heartbreaking struggle with depression that eventually led to his apparent suicide.

On Monday, the Marin County Police sheriff's office pronounced Williams dead at his home in California. The sheriff's office announced that a preliminary investigation shows that the possible cause of death of the comedian appears to be asphyxia due to suicide. He was 63.

Williams is known to be battling severe depression according to his publicist.

He even openly discussed and joked about his struggles with drugs and alcohol in the past.

The actor had returned recently to a rehabilitation facility recently to "fine-tune" his sobriety, according to a report by the Los Angeles Times in July.

"At this time, the Sheriff's Office Coroner Division suspects the death to be a suicide due to asphyxia, but a comprehensive investigation must be completed before a final determination is made," a police officer announced in a statement.

Born in 1951 in Chicago, Illinois, the actor's first acting gig was in his high school's drama club before he was accepted into the prestigious Juilliard School in New York where he was advised by a teacher to venture into comedy.

Williams' popularity soared because of his wacky portrayal of an alien in the hit TV show Mork and Mindy during the 1970s.

Some of his highly-acclaimed performances on the big screen include roles in films such as Good Morning Vietnam, Dead Poets Society, Awakenings, Hook, Aladdin, Mrs Doubtfire, The Birdcage, and even lent his voice in the hit animated movie Happy Feet.

His role as Dr Sean Maguire in the film Good Will Hunting earned him an Oscar award for the Best Supporting Actor category in 1997.

"This morning, I lost my husband and my best friend, while the world lost one of its most beloved artists and beautiful human beings. I am utterly heartbroken," said Susan Schneider, Williams' wife. "On behalf of Robin's family, we are asking for privacy during our time of profound grief. As he is remembered, it is our hope the focus will not be on Robin's death, but on the countless moments of joy and laughter he gave to millions."

Williams was formerly married to Valerie Velardin from 1978 to 1988, then to Marsha Garces Williams in 1989 to 2008, before marrying Schneider in 2011. The actor also had three children from his previous marriages.

The late actor leaves behind a net worth of $50 million, however some reports are stating that the figure is up to $120 million.

It has been revealed that the actor had set up a three-part trust fund for his children before his death.

According to TMZ, a three-part trust fund was established so his chidlren will not receive them all in one lump sum. Each child is set to receive one-third of the amount aged 21. At age 25, they would receive half of the remaining amount, followed by the rest at age 30.

It is not known how much was set aside for his children.