Kerry M. Kerstetter, CPA (referred to as The Tax Guru by other CPAs around the country) helps capitalists, investors & small business owners win the tax game. See www.TaxGuru.org for much more detailed info.
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Tax Guru-Ker$tetter Letter
Wednesday, October 20, 2004
No Secrets After Death
I've often discussed the benefits of using a living (aka revocable) trust instead of a will to take care of things after passing away. Saving on probate costs alone makes it one of the best investments around.
One of the other big differences is the ability to keep your very personal information private. Living trusts are confidential documents and are not available to the public. That's not the case for wills, which become public record after a person dies.
TaxProf Paul Caron has an excellent page of links to celebrity wills that anybody can check out. While we may all get a kick out of gawking at the private lives of celebrities, how would you feel if your will were open for scrutiny by anybody in the world, including your neighbors, friends, co-workers, and relatives?
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 10/20/2004 01:42:00 PM Send this post:
