Using a will when privacy is at stake
While many individuals prefer a will-based estate plan, wills create a record for public consumption, whereas revocable trusts protect the privacy of an estate.
“They both do the same thing: [dictate] who gets your stuff when you die. But one has to go through a probate process and one doesn’t,” said Richard Behrendt, an estate planning attorney at Behrendt Law.
“It just strikes me as absurd, especially for high-profile people, that they have public records of how much they own, who they left it to, and what mistakes they made,” he said.