Thursday, July 9, 2015
A growing trend these days is the use of so called "seminars" that claim to educate the elderly on how to plan their estate using a trust. However, these events are usually set up to scare people into entering into expensive, and often unnecessary, arrangements that cost tens of thousands of dollars, all for estates that easily could have used cheaper planning techniques. To best serve a client, it is always a good idea to sit down with them and explain the particular advantages and disadvantages of any planning strategy and make sure they have not been the victim of bogus planners. Many people have a undeveloped understanding of the complexities of estate law and should be given all possible information to avoid making poor decisions based on incorrect assumptions.
See Seymour Goldberg, Protect Your Clients from Trust Scams, Accounting Today, July 7, 2015.
Special thanks to Seymour Goldberg for bringing this article to my attention.