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Christopher Klug, an estate planning attorney in Washington DC, warns individuals of an estate planning scam that he refers to as a trust mill. Dishonest salespeople prey on the fears of seniors, informing them that upon their deaths, the government or a predatory probate attorney will step in to seize their assets and life savings. To avoid this, these individuals need to set up a living trust, according to these scammers. These scammers have become so commonplace the Federal Trade Commission and the AARP have now put out warnings, showing the seriousness of the problem."While a living trust is appropriate in many situations, every person needs to understand that there are options available to them. An estate attorney works to find the right solution for the client's needs, as opposed to promoting a one-size-fits-all estate plan. This allows the individual more control over planning for his or her future. The trust mill scammers are simply in it to make a profit on the living trust kit they sell. They don't have the client's best interest at heart," Christopher Klug explains.
This is only one way unscrupulous people take advantage of seniors. Another way they draw people in is by making use of terms the senior may feel comfortable with. This includes terms such as pure trusts, pure equity trusts, and constitutional trusts. Many seniors, especially those with no family to turn to for advice, see these terms and feel they can trust the person only to learn to do so was a mistake.
"Bad advice is easily available. However, finding a reputable estate planning advisor is more difficult. For this reason, every person needs to carefully research any person or company offering advice on this matter. Doing so helps to ensure their assets end up where they intended upon their demise," Klug continue.
Experts agree that seniors should never take shortcuts when it comes to domestic or international estate planning. Never delay the process either, as one can never know what the future holds. To obtain the best results, turn to a trusted attorney, one who offers multiple options based on the unique situation of the client.
"While technology has come a long way over the years, there is no formula currently in place that allows a person to input certain information to obtain the ideal estate plan. For this reason, people need to sit down with someone experienced in creating these plans to ensure their assets are safeguarded. Until the time comes when an algorithm is created to ensure every person gets an estate plan that meets their needs exactly, speaking with an attorney is the best way to go," Klug declares.
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About Klug Law Office PLLC:
Klug Law Office PLLC provides assistance on international and domestic taxation, business and individual tax planning services, tax audit, litigation and resolution, business law and cross-border transactions and wealth and estate planning matters. Their clients range from companies, individuals, and families. The firm is committed to its clients and to providing highly customized advice and documents, prompt attention, and a client-focused, timely service.
Contact Info:
Name: Christopher Klug
Email: Send Email
Organization: Klug Law Office PLLC
Address: Klug Law Office PLLC 1001 G Street, NW Suite 800 Washington, DC 20001
Phone: +1 202-661-2179
Website: http://klugtaxlaw.com/about-us/
Release ID: 392766
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