As discussed in the last blog, the Texas Attorney General and Texas Bar brought living trust scams to our attention. Living trust scam artists purporting to sell living trust kits or documents prey upon elderly consumers’ fears. Unfortunately, these kits are often worthless and can cost thousands of dollars. Other living trust scam businesses sell living trust products in an effort to obtain a consumer’s private financial information. Deceptive living trust salespeople may visit you at home or … [Read more...] about Elderly Residents Warned of Living Trust Scams: Part 2 of 3
Trust Administration
Elderly Residents Warned of Living Trust Scams: Part 1 of 3
Beware of living trust scams targeting elderly residents across the nation. A living trust is a written legal instrument allowing you to place your assets into trust for the benefit of your beneficiaries. A trustee manages the living trust on your behalf. The written instrument earns its name from the fact that you create a living trust while you are still living. A living trust may be irrevocable or revocable. You may not alter or revoke an irrevocable living trust document, unlike a revocable … [Read more...] about Elderly Residents Warned of Living Trust Scams: Part 1 of 3
Trusting a Professional Trustee
A trust can be a powerful estate planning tool, and you need to make several decisions when creating a trust, including choosing a Trustee to manage the property held by a trust. But a Trustee does not necessarily have to be a family member or a trusted friend. To review how a trust works: When you create a trust you transfer assets such as a real estate, stock or money to the trust. These assets are then managed for the benefit of the Beneficiaries by a Trustee. While a Grantor, the … [Read more...] about Trusting a Professional Trustee
