Estate Planning Scams to Watch Out For

When we look toward the future, nearly everyone has some type of wish for what will happen after their death. Fortunately, an estate planning document helps to make a person’s wishes clear by stating in writing his or her plans for the future. Estate planning is complicated, and the numerous scams that are present on the market can make the process even more challenging. One of the best ways for individuals to navigate the estate planning process is to understand some of the current popular estate planning scams. It is also helpful to obtain the assistance of a skilled estate planning attorney to navigate this process.

Groups Most at Risk of Estate Planning Scams

The group that is most in danger of estate planning scams is elderly individuals who do not have any relatives. The elderly are often in a hurry to have estate plans created and are often not even aware that they are being scammed. Because estate planning involves complicated areas of law including taxation, trusts, wills, and many others, elderly individuals often do not know whether a service being offered is actually helpful.

Be Cautious About Estate Planning

There are many types of individuals who claim to offer estate planning services that work, including accountants, bankers, brokers, financial planners, and insurance agents. Not everyone has the training and experience necessary to perform estate planning, though. Instead, it is important to remember that only attorneys are able to create estate planning documents, which is why it is important that a person who wants to properly plan for his or her passing should speak with experienced legal counsel like attorney Jim A. Lyon, who has helped many people achieve their estate planning goals.

The Danger of Trust Mills

AARP and the Federal Trade Commission have both issued warnings against living trust promoters, which present misinformation based on the fear that after a person’s death, his or her assets and life savings will be stolen. Trust mills, however, push individuals into accepting one-size-fits-all estate plans that do not take a person’s needs into consideration. Estate planning is a personalized process that requires a number of unique decisions, which means that shortcuts can frequently result in problems.

There are several strategies that a person can take to avoid being scammed by an estate planning company. For example, if a person purchases an estate planning kit somewhere other than the seller’s principal place of business, the seller is required to provide a written statement about the consumer’s right to cancel the deal. Before purchasing estate help from a source, it is also a wise idea to check out the Better Business Bureau to make sure that the source being used is legitimate.

Speak with an Estate Planning Lawyer

The estate planning process involves a number of unique considerations that can lead to numerous obstacles, which include your eventual wishes not being carried out. The best way to make sure that you avoid scams and create estate planning documents that create your goals is to obtain the assistance of a skilled estate planning attorney. Speak with attorney Jim A. Lyon today for assistance.