Sunday, April 1, 2018
A trust can function in a manner similar to a will while demanding fewer formal requirements. This increased flexibility comes at a serious cost; the ease with which a trust is created and revoked increases the likelihood of bogus revocation and fraudulent destruction. The witnessing requirement for an attested will serves to make it arduous for disgruntled beneficiaries to destroy, conceal, or replace the document. Because witnesses are not ordinarily involved in a trust execution, this preservation function is absent. There are a number of practical steps that planners can use to decrease the risk of valid trust suppression.
See Harry T. Dao & Fredrick E. Vars, Preserving a Trust, Probate and Property Magazine, March/April 2018.