The most expensive meal that you will ever have is the free lunch provided at the seminar sponsored by so-called expert estate planners. Usually, the seminar focuses on the benefits of a living trust versus the standard will. The financial planner will bring out horror stories concerning the estates of famous people where there was exorbitant costs involved with the probate of the estate. They fail to mention that the costs were related to fights among the children of the various surviving spouses which would be the same whether there is a living trust or not. The estate planner relishes in lawyer bashing wanting you to believe that the main person you should fear in life is the attorney who helps probate your will.
After the investment seminar, the financial planner, who is actually an insurance agent, uses the living trust sale to discover the financial information of his new client. Once a boiler plate living trust has been executed, then the estate planner pushes for the sale of insurance and annuity contracts which provide lucrative commissions.
The attorney general’s offices in numerous states have issued warnings concerning these “living trust mills” and encourage consumers to contact a qualified attorney and/or certified public accountant before buying into the value and suitability of a living trust for that individual.
If you have further questions or comments concerning the free lunch seminar, please contact us.
Attorneys at Law
- Mitch Baker & Troy Slaughter
- Wilmington, North Carolina
- We assist victims of investment fraud recover their investment and have been doing so successfully for years. Baker & Slaughter also handles personal injury and workers' compensation cases.
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