TRUSTS INSURE PRIVACY
Most people prefer that their financial affairs remain private. The creation and funding of a trust can help meet this objective by keeping your affairs private. If you must probate to transfer property at death, the probate proceeding will be open to public scrutiny.
A trust keeps the financial affairs of a deceased person’s property private. The trust must be properly prepared and funded before death to accomplish this objective. A properly funded trust can be quickly and efficiently distributed to the intended beneficiaries, especially if there are no estate taxes.
If you want to keep your assets and debts private, a trust is the better alternative. Just be certain your assets have been properly retitled to accomplish your purpose. If they are not, a probate may still be necessary to get the property into the trust.