Michael Jackson’s trust is available on the internet for anyone to read. The fact that it is easily accessible dispels to some degree one of the “advantages” that attorneys (including this one) have offered of living trust over will and that is that the document is a private document and is not public record.

It is true that revocable living trusts, frequently called family trusts, are not required to be filed in the probate court upon the trust maker’s (also known as a settlor, trustor, or grantor) death as a condition of administering the trust. However, in the event that there is litigation, the trust will have to be filed in the probate department of the superior court. Once that happens, it is open season.

Does that mean that living trusts are not advantageous? No. I believe that living trusts are advantageous over simply doing a will in California because of the avoidance of probate. In some other states, New York and New Jersey come to mind, probate is a much simpler process than it is in California so that advantage is negated and there are many esteemed attorneys in those states who have a different view of revocable living trusts than do lawyers in California.

In my next post, I will provide a summary of what Michael Jackson’s trust actually says!