Public v. Private: After Death
Many people would be horrified at the thought of publically disclosing their finances. All too often, this is precisely what occurs following their death because the administration of an estate is a public matter. This means that the value of the estate becomes a public document. Any dispute about the estate, including getting court approval to "sign off" or pass the accounts opens the estate up to even more scrutiny making it seem even more public.
Many people, especially those who chose to live private lives, find this intrusive. However, there are ways to reduce the public nature of an estate.
First, a significant number of assets can be held jointly. This includes joint tenancy for real property (houses, land) or joint bank accounts. These assets then pass directly to the person or persons who owned them jointly with the deceased. They are excluded from the value of the estate for probate purposes and passing the accounts. The potential risk is that the person who you give joint ownership to many empty your bank account while you still live.
The second option is creating a trust or trusts. Trusts which are created by a will, have the same privacy concerns that the will has. However, trusts created during one's lifetime are more private. It is only if the administration of the trust becomes the subject of litigation that privacy will be lost. One potential solution is creating separate trusts for each potential beneficiary.
Finally, adding a clause to a will requiring the beneficiaries to resolve any disputes by private mediation or religious dispute resolution i.e. a beit din also reduces the public scrutiny involved.
The content and the opinions expressed here is informational purposes only and does not constitute legal or professional advice. Nor does reading or commenting on it create a lawyer/client relationship with the author. I encourage you to contact me directly at
The author encourages you to share this article on social media.
Like Liked UnlikePublic v. Private: After Death
Like