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Trust Scams, Trust Mills, Trust
Consultants...Watch Out!
by Phil Craig
© Phil Craig, All Rights Reserved
http://www.LivingTrustSecrets.com
What do you think about this message?
"Dear Mr. Craig,
I've got this phone call from a Trust Consulting Company
and they've told me, if my husband or I die, the government
will take up to 50% from the estate.
I've never heard about
Trusts or paying taxes if somebody dies.
We came from oversees
ten years ago and are planning to stay in this country. Is this
true what the Consulting Company told me? If yes, will it apply
in our case?"
Wow, this is exactly the type of conduct that is being targeted by
a class action lawsuit recently filed in California by California
Advocates for Nursing Home Reform (CANHR) and the Institute on
Aging (IOA).
What they have found are companies that are using scare tactics
against seniors and offering free consultations or free living trust
seminars to gain information about the senior's finances in order to
sell them inappropriate financial, annuity or life insurance products.
Most of you know my thoughts concerning your revocable living trust
and your estate plan.
Having a good estate planning lawyer is like having a good family
doctor. Someone you can trust and confide in.
Someone you feel
comfortable disclosing your intimate financial and family details to
and feel confident that they will maintain your confidence.
Why in the world would you trust your affairs to an unlicensed and
unregulated "consultant?" How do you know their qualifications or
training? Do they carry malpractice insurance?
I was once asked to review an estate plan and revocable living trust
prepared by a "consultant" (who has since then been closed down by the
state). This person was so incompetent, he had prepared a document that
purported to be a revocable living trust, a durable general power of
attorney for health care, a durable general power of attorney for
financial decisions, and a pour-over will, all in one document. It was
so bad, it was laughable. Except by the person who had given this
consultant over a thousand dollars for the piece of trash.
Watch out. There are a lot of sharks out there.
Good luck and until next time,
Phil Craig
P.S. Did you
know you can search this site or the web for more Living Trust, Wills,
Estate Planning and Probate answers?
Click here!
Phil Craig is a licensed attorney and entreprenuer.
He started practicing law at age 25 in 1979.
He does not take on any more clients, but is
advisor to some of the biggest names in the internet
world. He shares his knowledge gained over the
last 25 years at his Living Trust Secrets newsletter site:
click here=========>http://www.LivingTrustSecrets.com
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