Philip Seymour Hoffman’s Children Won’t Be Trust Fund Kids
ROBYN BECK/AFP / Getty Images
Philip Seymour Hoffman didn’t want his kids to become “trust fund kids,” according to the court-appointed guardian for his children.
The famous actor, who died in February 2014 of a drug overdose, repeatedly rejected his accountant’s suggestion that he should set up a trust fund for his kids, said Brooklyn attorney James Cahill, who was appointed as guardian for Hoffman’s son Cooper, and daughters Tallulah and Willa.
Cahill was remembering a conversation with Philip’s accountant, David Freidman:
“Specifically, Mr. Friedman recalled that (Hoffman) told him he did not want his children to be considered ‘trust fund’ kids,” Cahill wrote in papers filed in Manhattan Surrogate Court.
Friedman told Cahill that he raised the topic several times over the years, and even within the year before Hoffman died, but the actor didn’t change his mind.
Instead, he left everything to his longtime girlfriend and mother of their three children, Marianne “Mimi” O’Donnell.
“(Hoffman) advised Friedman that Mimi would take care of the children,” Cahill wrote.
O’Donnell was named the executor of Hoffman’s estate, which was estimated to be worth about $35 million.
Cahill said he “simply did not believe in marriage but that did not affect his affinity or relationship with Ms. O’Donnell,” whom the actor treated “as if she were a spouse,” complete with joint financial accounts that held “substantial” assets at the time of his death.
Cahill said Hoffman had only one request in his will in 2004 before his two daughters were born, “(Hoffman) wanted to insure that his son would be raised in a city with art and culture.”
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