Would You Want EVERYONE To Be Able To Read Your Will?

Jacquelyn Kennedy Onassis was a very private person. Surprising when you consider the public life she led – but true. She was famous for keeping her private life private.

Why am I telling you this?

The other day, my CPA was telling me that the office he previously worked in – had a copy of her will! They kept it on hand to prove to their clients how vulnerable our most private wishes can be, when we leave everything in a will.

Can you imagine how horrified she would be if she knew the – entire world – had access to her private financial data? Her private wishes as to who would get what – and in what amounts?

That can happen to you, too!

How do YOU feel, knowing that EVERYONE has access to your will? Is there anyone that you might consider – shall we say an “undeserving” relative? Do you want them reading your will? How about your enemies? Business rivals?

How would it affect your family?

So, what can we do? After all, wills are a matter of public record and public records are…public.

First thought that comes to mind is…don’t leave a will!

BAD IDEA! So bad in fact, I won’t even bother to list any reasons. Just don’t do it.

The way to avoid letting the world know about everything you own, is to NOT own anything!

No, I don’t advocate giving away everything you own and leaving your family penniless.

The way to solve the problem is to put all your possessions into a “Living Trust”. Then, title to all your property is in the name of the trust. Not in your name. Therefore, when you die, it doesn’t affect the ownership of your possessions at all! The trust owns them! Whomever you named as the executor of the trust simply steps in and takes over the trust’s management.

Privacy is important to all of us – but that’s only one small benefit to owning a “Living Trust”. To find out more…you can spend $200 or $300 to consult with a good estate planning attorney – or – you can go to the website listed in the resource box below.