Avoiding Living Trust Scams: A Quick Guide for Advocates
Dishonest living trust salespeople prey on seniors' fears that after their deaths, their life savings and assets will be stolen by the government or by predatory probate attorneys. These salespeople use high-pressure tactics and deceptive claims to coerce vulnerable seniors into buying a product that many of them don't need. Seniors are bombarded with advertisements, phone calls, and pitches from door-to-door salespeople insisting that living trusts work best for everyone. This may be true for some. For others, buying a living trust is simply a waste of limited resources.
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Tips for Seniors on Living Trusts
Many seniors worry about what will happen to their property after they pass away. This is a very important decision. Unfortunately, it can also be very confusing. One of the most critical choices you will face is whether to get a living trust, will, or both. There are many unscrupulous companies that will try to convince you that a living trust is the best way to go. This may be true for some. But for many, a living trust will simply be a waste of precious resources. This fact sheet will give you basic information about living trusts and wills, and describes some of the most common scams.
