29.4k views
1 vote
A movie star buys a vacation property in your town and chooses you to act as trustee of her revocable living trust. You should?

a. take out an ad in the paper citing the account to build respect in your institution.
b. not discuss the account publicly.
c. discuss details of the account publicly, using only her stage name, never her real name.
d. discuss details of the account publicly, using only her little known real name, never her will known stage name.

User Hanz Cheah
by
7.6k points

1 Answer

3 votes

Final answer:

You should not discuss the account of a movie star's revocable living trust publicly as a trustee. Trusts are private matters, and as a trustee, maintaining confidentiality is both a legal and ethical responsibility. Any public discussion could breach trust privacy and have negative consequences.

Step-by-step explanation:

If a movie star selects you to act as trustee of her revocable living trust, the most appropriate and professional action is to not discuss the account publicly. This includes refraining from advertising the relationship in any way, such as taking out ads in the paper.

Trusts are meant to be private arrangements that help facilitate the discrete transfer of assets, and as a trustee, you have a legal and ethical duty to maintain the confidentiality and privacy of the trust and its grantor. Disclosing details publicly, even if using a stage name or real name, would be a breach of that duty.

Furthermore, from the information provided, there is also a specific concern with keeping the 'Shanly name' out of public connection with the property transaction in order to avoid influencing the value assessment by the heir to the house.

Revealing any information about the trust would therefore be against the interests of the trust's grantor and could have financial repercussions.

User Mina HE
by
7.0k points