For many, their Will is a deeply personal document that includes information about their family and finances. As these are two matters most people wish to keep quiet, the idea of this document becoming public can be upsetting. If you are ready to plan your estate, it’s critical to understand whether or not your Will is going to become public record and what you can do to keep these matters private. The following blog explores what you should know about these matters and how a Medina County, Ohio Will preparation lawyer can help you if you have concerns regarding these issues.
Is My Will Going to Become Public Record?
When you create a Will, it’s important to understand that throughout your life, it will remain private. However, upon your passing, this document will become public record, meaning it will be accessible to the general public. This is because your Will must be filed with the Probate court, so the information becomes public to ensure transparency and fairness in the distribution of assets. The public nature of a Will after the estate owner’s death helps ensure that those with a vested interest in the estate are aware of their rights and potential inheritance. As such, anyone can request a copy of your Will.
While some sensitive information included in your Will, like bank account or life insurance policy numbers will likely be redacted, but other information will remain available to the public. This includes the assets included, how you would like to distribute them, who your Executor is, and any debts remaining in your estate.
How Can I Increase My Privacy?
It’s imperative to understand that just because anyone can request a copy of your Will doesn’t mean they will. However, this is still a concern for many looking to create an estate plan, so it’s important to understand what you can do to increase your privacy regarding these matters.
Generally, the most important thing you can do if you are worried about privacy when estate planning is to connect with an attorney who can help you explore your legal options for keeping these matters more private.
One option you may wish to pursue if you have privacy concerns is creating a Trust Fund. These do not go through Probate and, thus will not become public record upon your passing. Another option is to work with an attorney to include only the most important information in your Will to ensure your wishes are honored while still prioritizing your privacy in these matters.
As you can see, these are incredibly complicated issues to consider when planning your estate. That’s why the team at Krause Law is ready to help you during these times. Our firm understands how important planning for the future while maintaining your privacy is, which is why we will work with you to explore all your legal options. Connect with our team today to learn how we can assist you in these matters.
