Full Disclosure Is Best

Some commentators argue for trusts that prevent disclosure to beneficiaries.1 I am struck by how easy it is to forcefully advocate an idea that is risky at best and, at worst, disastrous. Just think of a trust beneficiary who ultimately learns of an entitlement that was kept a secret or that he was prevented from knowing about during the term of the trust's administration. Many beneficiaries would

Some commentators argue for trusts that prevent disclosure to beneficiaries.1 I am struck by how easy it is to forcefully advocate an idea that is risky at best and, at worst, disastrous.

Just think of a trust beneficiary who ultimately learns of an entitlement that was kept a secret or that he was prevented from knowing about during the term of the trust's administration. Many beneficiaries would panic,2 conclude they had been exploited and hire a litigator. I h

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