Beware of companies that sell “standard” living trusts through seminars, mailers, and telemarketing, without any concern for your overall estate plan. A “one size fits all” package can have a detrimental effect on your estate plan, and may result in property going to the wrong heirs while costing a great deal of money. Below are ways to spot potentially deceptive living trust companies:
- Beware when there is no way of checking the credentials of the sales person or company.
- Beware of a company that sells you a “self-help” kit requiring you to transfer your assets without explanations or supervision.
- Be careful when the company charges small fees or offers discounts if you sign up immediately.
- Watch out for companies with “sound alike” names confusing their services with legitimate organizations like AARP.
- Look out for companies providing a trust as an excuse to sell you annuities.
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