Tuesday, June 19, 2012

The Mystery of Joe Paterno's Will

Like many 21st-century wills, that of the late Penn State football coach Joe Paterno is uninformative. He had a living trust, so his will simply disposes of tangible personal property and sweeps any remaining assets into the trust.

Because the terms of living trusts usually remain private, we may never know much about Paterno's estate plan.

The mystery: Why did the Paterno family nevertheless seek to keep the will secret?

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