Many people think of probate (the process of collecting, managing, and distributing a deceased person’s money and property) as a private process. However, because wills are filed at the courthouse, probated estates become a matter of public record. That means your nosy neighbor Nellie can simply go down to the courthouse or hop online and find out about your probate. Really.
And it’s not just Nellie that has access. After a death, most states require that whoever has possession of the deceased person’s will must file it with the probate court – even if there won’t be any probate court proceedings. While Nellie may be an annoyance and have no reason to view the information other than curiosity, others can get access to your public records and make your beneficiaries’ lives miserable, such as:
While today’s digital world is convenient, it’s also dangerous. Financial predators find ways to access sensitive personal information online.
Even the most well-meaning charities can become an annoyance when money is considered “up for grabs.” This is especially true in an estate situation when those inheriting assets want to do the right thing and honor their loved one.
Since a will that is filed with the probate court becomes a public record, those believing they have an interest (whether valid or invalid) can access the document and challenge the will, even if it is a frivolous claim.
Avoid the “Nosy Nellie” with a trust. Trusts are never filed with a court, either before or after your death. Probate courts are not involved in supervising your trust administration. So, you can avoid intrusions by busybodies and predators by creating a trust. While some state laws require a total or partial disclosure of information regarding the trust to beneficiaries, it is still the best way to keep your legal affairs private.
Contact us today and let us help you create a trust to avoid probate and keep your family and financial affairs private.