But my will doesn't matter much, does it? Mine is a modern estate plan, based on a living trust agreement. Are the terms of the trust agreement as private as the provisions of my will? Apparently not, at least not if I live in Kentucky:
[M]any laypersons who create revocable living trusts as will substitutes might be shocked to learn that a trustee has a duty to inform contingent beneficiaries of their potential interests, given the understanding of many settlors that so long as they are living and competent the trust assets remain essentially under their control and that they may freely change their mind about beneficiaries' interests . But if our trust statutes are out of touch with modern policy or with the expectations of today's community, it is the legislature's task to amend the statutes, not this Court's role to re-write them.Hat tip to The Wills, Trusts and Estates Prof for spotlighting this case.