SiteLock
Take our short course in minutes: "Do I need to update my estate plan?"

 

By now, hopefully most people are aware that probate avoidance is one of the core benefits of a properly drafted and funded revocable trust, even one done by a trust mill that lacks the sort of comprehensive planning we do.

Why is probate bad? Well, one of the many reasons probate is bad is that it is a court proceeding and the records are generally available to the public, even to unscrupulous con men that could take advantage of your family, or perhaps thieves. This is really bad because probate usually involves real property so the bad actors will know where your family and assets are located. In large estates, they will learn of other real property perhaps in other states where other branches of the family live.

There are all sorts of reasons to be concerned about this, but let us focus on one: political violence.

These are uncertain times, politically, and many American families have chosen to get involved despite the risk of violence posed at Trump rallies, for example. Entire families have participated together, but even if it is just one family member, the rest of the family may be at risk due to the public information found in probate records.

All of that, even the ancillary probates out of state, could be avoided with a simple, basic revocable trust.

Something to think about, going forward. In general, families benefit from privacy, and this is just one example.

Facebook Comments

Pin It on Pinterest

Fire at will...

Share this with your friends!