The Ultimate Privacy Trusts Quiz
by Staff
Your financial data might be easier to access than you know. With a privacy trust, however, you can secure your data, and protect yourself against scams and predatory law suits. Are you at risk?

Which of these financial details enters the public record when you own a home?

  • bank statements
  • home equity
  • social security numbers

Where can one go to search your public financial data?

  • the National Archives
  • county and state databases
  • a U.S. Post Office

How do privacy trusts ensure anonymity?

  • They don't use your name or your social security number.
  • All records are permanently sealed.
  • A privacy trust uses a fake name, or alias.

In a privacy trust, what does the company you hire as your trustee manage?

  • your budget
  • your assets
  • your financial documents

Which of these terms refers to a person who establishes a trust?

  • a trustee
  • a beneficiary
  • a grantor

The party that manages a trust is called which of these?

  • a trustee
  • a beneficiary
  • an officiate

When you set up a privacy trust for yourself, you simultaneously carry which two titles?

  • trustee and grantor
  • grantor and beneficiary
  • beneficiary and trustee

Who should you consult before choosing a trustee?

  • an estate-planning specialist
  • a constitutional scholar
  • a tax attorney

Which of these should you make sure applies to the company you choose to manage your trust?

  • They should be licensed and regulated.
  • They should be well funded.
  • They should deal exclusively in privacy trusts.

By which of these should your trust manager be regulated?

  • the U.S. Attorney's Office
  • the Internal Revenue Service
  • the banking industry

What does LLC stand for?

  • Licensed Legal Corporation
  • Limited Liability Company
  • Localized Losses Cap

The fact that a privacy trust is revocable means that you may do which of these?

  • You don't have to pay them.
  • You can terminate the trust at any time.
  • You can use a false social security number.

How can a privacy trust protect you in cases of a lawsuit?

  • It shields your assets from the public record.
  • It bars anyone from suing you for more than $1 million.
  • It ensures the trust's attorneys will represent you.

A privacy trust is technically which of these?

  • a retirement account
  • a bank account
  • a living trust

Opening a privacy trust could also help you accomplish which of these?

  • Lower your tax burden.
  • Improve your credit record.
  • Buy a house.