Why a Living Trust?

Introduction

A Forewarning

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17

Why a Living Trusts : Probate is Public, Trusts are Private

Probate Is Full Public Record Accessible By Anyone
In probate, every detail is a matter of public record. The entire affair – the Will, the size of the estate, each asset, how much the assets are worth, the total value of the estate, the beneficiaries, what each person receives, their name, address and phone number, other personal data, and everything else -- is public record for anyone, and everyone in the world to see. If you have any doubt about how much information is available I invite you to journey to any courthouse where, and with a simple request, you can pull any probate file. There you will see for yourself just how much personal information is available at your fingertips. Fact is there are people who make it their business to scan these records every day hoping to use this information for an “opportunity”. Many who peruse these records are unscrupulous and have less than honorable intentions. Literally, anyone can view these records without restrictions – con artists, swindlers, felons, identity thieves – anyone – it doesn’t matter.

A news show happened to air a segment on “how much they could find out about someone”. They approached a married couple and asked permission. They surprised the couple when they returned only a few hours later with a large amount of highly personal information. The number one source of information: Probate! When the couple was asked what they found most disturbing, they replied that they were shocked and most deeply distressed by the public nature of the probate record. They just did not realize it. Here we have still another very unsettling but little known fact and result of using a Will (Probate)!

Trusts Remain A Completely Private Affair
Again in stark contrast -- a Trust is entirely private. It is never filed, recorded, or published anywhere as public record. You need show only select pages out of the trust necessary to verify for any given institution that you are empowered by the trust to manage the asset -- and they must keep even those disclosures in the strictest of confidence.

Would you volunteer to make every detail of your finances, net worth, asset base, relations, and other personal data a matter of public record while you are alive? Then why would you ever choose a course of action that later forces such intimate public exposure on your family if you didn’t have to?

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