Q: Why did Santa Claus set up a living trust?

by | Dec 20, 2023 | Estate Planning, Q&A |

A: Because he wanted to ensure his assets were as well-managed as his list of who’s naughty and nice! Santa, known for his meticulous record-keeping and generous gift-giving, understands the importance of planning for the future. Setting up a trust can be crucial for several reasons:
1. Avoiding Probate: Just like Santa avoids chimney blockages, a trust will help his beneficiaries avoid the probate process. This means assets can be distributed to Mrs. Clause and his most beloved elves without the lengthy and expensive court process.
2. Privacy: Santa values privacy (he keeps his list secret, after all!). A trust is not of public record, unlike a will, so details of Saint Nick’s estate and assets will remain confidential.
3. Control: Santa controls his workshop operations precisely. Similarly, a trust will allow him to control how and when his sleighs, equipment, reindeer and gifts are distributed.
Santa’s decision to set up a trust showcases his forward-thinking approach, ensuring his assets are managed efficiently and privately, much like his well-run toy workshop.