Florida sports fans may have heard of the generous provision that basketball coach Dean Smith made for about 180 former players. The coach used a revocable living trust to distribute $200 each to the players.
Because a trust provides privacy that a will does not, the public would not have become aware of the distribution if not for players posting about it on social media. It can be surmised that due to his choice of a trust that the North Carolina coach did not necessarily intend for his generosity to become public knowledge.
The revocable living trust has other…