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Probate Law News
Attorney General Corbett Files Second Suit Alleging "Living Trust" Sales Scheme
Attorney General Tom Corbett today announced that a second civil lawsuit has been filed against the operators of a living trust sales scheme, who are accused of deceiving elderly consumers into purchasing Revocable Living Trusts and other estate planning products that pay the sellers high commissions, but may not be in the consumers' best interest.
The Attorney General's Charitable Trusts and Organizations Section simultaneously filed a motion for special injunction and for preliminary injunction that asks the court to immediately require that the defendants cease all illegal operations until the lawsuits are decided. A Commonwealth Court hearing on the motion is set for 10 a.m. Wed. May 3.
The suit identifies 11 defendants, including Montgomery County lawyer Brett B. Weinstein, who was named in the Attorney General's original October 2004 complaint. Corbett said this latest legal action follows an investigation into additional complaints from elderly consumers, who claimed that they were defrauded by the defendants. Read more at attorneygeneral.gov.
You May Be Able To Avoid Probate
A living trust is one way someone may be able to eliminate the need for probate. This trust holds legal title to your property after your death and will survive you after your death. Always consult a probate lawyer first.
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Trust Mills Can Be Financial Traps
Consumer: I’m exploring estate planning options, including living trusts. I’ve read recent warnings about “trust mills.” What are these?
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Definition:
A bank account that is held by two or more people each of whom has a right of survivorship.
Living Trust
Definition:
A living trust is an estate planning device that allows a person to transfer assets to one or more persons before and after they die.
Conservator
Definition:
A person or entity who is appointed by the court to exercise certain powers for the care of an incapacitated person, the person's estate, or both.
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