As the healthcare landscape and growing job insecurity have changed over the last few years, so have the types of fraudulent scams in the United States. Unfortunately, becoming a victim is easy, especially to living trust scams. This type can make individuals lose anywhere from $500 to $5,000. Work with our wills and trusts lawyers in McAllen to ensure you don’t fall susceptible to any scams.
Stay Vigilant and Protect Your Personal Information
The most common tactic scammers employ using terminology that most people would not understand. They will use legitimate terms such as “executor” or “probate” to overwhelm you or persuade you that you are in danger of being taxed. They will even try to confuse you, and once they convince you, you could spend hundreds and thousands of dollars on “kits,” and documents that are useless.
One of the best things you can do to avoid any issues is staying up-to-date on the terminology used in any McAllen law firm, for starters, know the following terms:
- Trusts are documents used to protect and divide your assets.
- Beneficiaries are individuals (whether a person, corporation or non-profit) you choose to bestow your assets upon.
- An executor is an individual responsible for settling your debts, collecting your assets, completing the terms of your will, and distributing your assets.
While vigilance and knowledge are powerful tools in avoiding living trust scams in McAllen, it’s important that you also stay on your toes as you plan your estate. If you’re on the verge of creating a living trust, verify any stated affiliation with a government agency. You can also seek the advice of your accountant or financial advisor, or McAllen attorneys for your estate planning needs.
Contact our Wills and Trusts Attorneys in McAllen
We know just how damaging living trust scams can be to entire families. It’s the reason why we urge you to seek professional, verifiable, and trusted help from our lawyers. We’ll sit with you, discuss your situation, and find the best plan of action. Send us a message online for more information or to book your appointment.