Are you concerned about potential scams when planning your estate? Have you received unsolicited calls or mailings about estate planning services? Are you worried about choosing the right professional to help protect your assets and loved ones? If so, you need to understand the common estate planning scams that could put your future at risk.
The Trust Mill Trap
Many of my clients have encountered what we call “trust mills” – companies that aggressively market low-cost, standardized estate planning packages. These operations often pressure people into buying unnecessary documents that may not even comply with California law.
What can you do to protect yourself?
Work with a licensed estate planning attorney who will take the time to understand your unique situation and create documents that actually serve your needs.
Beware of “Free” Estate Planning Seminars
You’ve likely seen advertisements for free estate planning workshops or webinars. While some educational seminars are legitimate, many are simply marketing schemes designed to sell expensive financial products that may not benefit you. These presenters often pressure attendees to make immediate decisions about complex financial matters.
Instead of rushing into decisions at a seminar, take the time to consult with qualified professionals who can review your specific circumstances.
The Danger of Unlicensed Practice
Some individuals pose as attorneys or use misleading titles like “notario” when marketing to Spanish-speaking communities. Without proper legal credentials, these people cannot provide valid estate planning services. Their documents may be worthless or even harmful to your estate.
How can you protect yourself?
Always verify an attorney’s credentials through the California State Bar website before engaging their services.
“Heir Hunting” and Inheritance Scams
Have you received unexpected messages about an unclaimed inheritance? Scammers often contact people claiming they are beneficiaries of unknown estates but require upfront fees to access their inheritance.
Remember this important fact: legitimate inheritances never require payment to claim.
Government Benefits Planning Schemes
Some companies target seniors with promises to help them qualify for Medicaid or VA benefits by restructuring their assets. These schemes can result in benefit disqualification or severe penalties.
What’s the solution?
Work with an experienced attorney who understands these complex regulations and can help you plan appropriately.
Fraudulent Document Updates
You may receive calls or letters claiming your estate plan needs immediate updating. While estate plans do require periodic review, be wary of unsolicited offers to update your documents. These scammers may steal your information or create invalid documents.
Only update your estate plan through a qualified estate planning attorney you trust.
Taking Action to Protect Yourself
Estate planning scams can devastate families and leave estates in chaos. The good news? You can protect yourself by working with a qualified attorney and staying informed about common schemes. Do not let the fear of scams prevent you from creating a proper estate plan – instead, take the time to find a trusted estate planning attorney who will help you protect your assets and protect your loved ones.
Do you have questions about creating or updating your estate plan? Contact our office at (760) 673-7600 or email us at [email protected] to schedule a consultation with an experienced estate planning attorney.