Secrecy of Living Trusts - Sen. Edward Kennedy
First of all I'd like to welcome everyone to my new estate planning blog.
Being a Bay Area Attorney, I'm going to provide current news and analysis regarding the entire field of estate planning from a lawyer's perspective. The blog is dedicated to everyone, who is interested in estate planning, no matter if professional or lay individual.
In my first entry I'd like to talk about one major advantage of living trusts, that is often overlooked. Living trusts provide privacy after the unhappy event of passing away. Unlike a will, that will become public after somebody dies, the arrangements made in a living trust stay in the family. I have already outlined this effect on the firm's website.
A famous example for this sort of secrecy is the estate of former Senator Edward Kennedy. According to an interesting article on myfoxboston.com the whole estate plan of Sen. Kennedy remains hidden behinds a wall of secret trusts, even though a FOX 25's investigative team has tried to find out the details. The team has been able to dig out some information but only very little. This is an effect that every living trust has.
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