Living Trusts

[pennypinch]

Living trusts are a way to have your assets distributed to whom you wish after you pass away. You need to be ware though as there are scams going on having to do with setting up living trusts.

People are going door to door and are calling the elderly attempting to talk them into setting up a living trust. they are telling them things like if they don't set up a living trust, their estate will be eaten up by taxes or that it could take years for their estate to be distributed. They are just trying to talk you into something that you most likely don't even need and they will charge you a lot for it.

Most people don't need to have a living trust. A will is a much cheaper way to go and is best for most people.

People who may need a living trust are those who own their own business, own real estate in more than one state or have children or grandchildren with special needs.

Don't let someone call you up on the phone and talk you into anything. Do research first and talk with your lawyer to decide what is best for you.

[dimetime]

Its truely amazing the lengths that people are willing to go through to scam someone out of money.

Thanks for this post. It will be getting passed on to all I know so that they wont fall victim to this horrible scam.