3 Estate Planning Scams to Watch Out For

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3 Estate Planning Scams to Watch Out For

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Working with a trustworthy estate planning lawyer can help you solidify a plan for what happens to your assets and your family after you pass away. It’s a great way to make sure that your family is taken care of in the event of your demise and can also buy you peace of mind. That being said, death can bring the worst out of people. If you decide to bypass working with an inheritance attorney, you could be in for some nasty surprises. It’s very important to do your research on any estate lawyers that you work with and watch out for estate planning scams.

Working with an estate lawyer at Millman Legal can be the best decision you make during the estate planning process, because our team is trustworthy and experienced. We have dealt with clients that have been taken advantage of by unscrupulous financial advisors and even family members. It’s an unfortunate reality – there are people out there that will try to scam others out of their assets during the estate planning process. Millman Legal wants you to avoid those circumstances at all costs, which is why we’ve prepared the following article that details 3 estate planning scams to watch out for.

  1. Unnecessary Fees

Sometimes, if you don’t do your homework on the person that is handling your financial affairs, it can be a costly mistake. There are plenty of people in the estate planning industry that will charge exorbitant fees to those who don’t know better. This is the first scam you should look out for. If someone wants to initially charge you $20,000 along with an hourly rate just to handle an estate, they might be trying to take advantage. Bad legal advice and greedy people are waiting to prey on those who don’t know better. That’s why working with a trusted estate planning lawyer like those at Millman Legal is always the best choice.

  1. Watch Out for Trust Mills

Trust mills are essentially scammers that try to play fear to their advantage. They will call elderly people and tell them that the government or probate attorneys will take all of their assets away from their family after they pass away. The goal of these trust mills is to get seniors to pay them in order to create a living trust kit. They are offering a plan that is not personalized and not good for the future of the estate.

  1. Bad Advice

In the estate planning world, everyone seems to have their own opinion on what the right thing to do is. Financial advisors, accountants, lawyers, and family will all have their own views. What you need to watch out for is bad advice and ulterior motives. Working with a trusted inheritance attorney can help you avoid all of the noise and make the best decisions for your family.