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| Estate Educators Newsletter |
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The Living Trust: A Good Idea Gone Bad!
Thousands of trusts are being sent Family trust disputes create booming
to probate court each year! business for litigation attorneys!
Surviving spouses angered by Successor trustees are paying millions
unexpected trust restrictions! of dollars in out-of-court legal bills!
Conscientious lawyers attend seminars One company sold nearly 25,000 to learn how to fix botched trusts! inferior trusts to seniors!
Smoke And Mirrors!
For more than three decades, the living trust has been the subject of an extensive mass marketing campaign. Newspapers, television, direct mail and even residential flyers have spread the "good news": Buy a living trust and avoid probate court, death taxes, etc.! With such advertising, and the verbal assurance heard at sales seminars, thousands of Californians have purchased these documents.
If these claims are correct, you might ask yourself, why are the probate courts overwhelmed with trust cases? Also, why has the Continuing Education of The Bar been offering classes for attorneys on the subject, "Estate Planning Scams, Botched Trusts and Other Disasters"? Click here to see a description of one such recent class. | | |
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Trusts Are Consumer Products!
As with any consumer product, a trust will vary in quality from excellent to poor. Most consumers will rely on a lawyer to prepare their trust, thinking all trusts are created equal. This is just not true! If you still have doubts, go back and review the class outline for "Botched Trusts".
Most trust holders are unaware of the increasing number of failed trusts. Also, they seldom comprehend that, after a death, their successor trustees (usually a surviving spouse or child) will be left holding an irrevocable and unamendable trust. Then, it's too late to avoid the costly remedies of our legal system!
If, for example, your trust is lacking instructions (or contains incomplete or conflicting instructions) on how to handle a particular situation, then your successor trustees can become financially liable if they act on their own judgement. This explains why, in many cases, the only "safe harbor" for a successor trustee is a probate court "petition for instructions." Then, a judge will solve the problem, and your trust estate will pay the tab!
It is far less expensive to correct or improve your trust while you are living and still competent! Also, successor trustees need to learn about their responsibilities and potential financial liabilities in managing poorly drafted trusts.
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Estate Educators Hosts Lectures For A Fee. We Do Not Sell Trusts!
Our Current Lecture is
Trust Justice: A Consumer Protection Lecture
Presented by John M. Maag
Obtain a "street-wise" education on trust problems, designs, etc., from an independent trustee, trust consultant and trust court case researcher with nearly 30 years experience in the field! Learn more about John @ www.estateconservation.com .
This two hour lecture will enable you to act as your own consultant when you update, correct or purchase a trust!
The lecture is presented in plain language to small groups, usually less than 25, so your individual questions can be answered. You will not be solicited to purchase a trust or any other product!
Regardless, if you already have a trust (even if it's an expensive one) or know you need a trust, you must become educated to protect your hard earned assets. Remember also that trust problems solved in probate court will expose your private information! Your loved ones should not have to watch helplessly as legal fees, taxes and court expenses eat away at your estate!
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Estate Educators works with experienced ethical professionals to develope educational lectures. The lectures are offered for a fee and to small groups, usually less than 25. You will never be subjected to a sales pitch at any of our lectures.
Our desire is that you obtain a QUALITY living trust, FUND it properly with your assets, and manage it with KNOWLEDGE to avoid excess legal fees, probate court, certain death taxes, etc.
We don't sell trusts, just knowledge. The fee you pay for one of our lectures could be the best investment you ever make!
To learn more about us, click on "About Estate Educators" above.
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