Will versus trusts when considering privacy

There are several things that make Wills and Trusts different from each other. We've discussed many of those differences in past RLM News articles. Today, however, let's focus for a minute on the privacy issue.

How private is a Will?

As private as you want it to be when you're living; don't tell anyone and they won't know. At your death, however, that changes. Since every Will goes through probate court, it is no longer private. In fact, it will become a matter of public record and accessible to anyone who wishes to obtain a copy.

How private is a Trust?

A Trust does not go through probate court -- it is designed to protect your privacy. Created during your lifetime, a Living Trust is a legal entity that holds and manages your assets (real property, tangible and intangible personal property). There is no public disclosure of the trust provisions and/or the assets in your estate. Your privacy is upheld and honored.

Want to know more about Wills and Living Trusts? Contact us and we'll send you a packet of information to review in the privacy of your own home.

For more information about making a charitable bequest gift to Right to Life of Michigan in your Will or Living Trust, please call (248) 553-8800 and/or go to http://www.rlm.gift-planning.org

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