When mapping out the future, individuals want to know if their personal items are going to a good place. Estate planning is important for ensuring other people care about and properly handle one’s assets and wishes after death.
Unfortunately, many scams target those trying to secure their future.
Fake estate planners
One common scam involves fake estate planners. These scammers pose as professionals and offer to help with estate planning for a fee.
They may advertise their services online or through mail. Often, they have no real qualifications or experience. They collect personal information and money without providing any legitimate service.
Bogus investment opportunities
Some scammers entice people with fake investment opportunities as part of their estate planning. They promise high returns on investments in real estate, stocks or other ventures, and may claim these investments will grow the estate’s value significantly.
In reality, these investments often do not exist or are extremely risky. People lose their money with no way to recover it.
Phony charitable donations
Another scam involves phony charitable donations. Scammers claim to represent a charity and encourage donations as part of estate planning. They promise that the donations will help reduce taxes and benefit a good cause. In truth, the charity does not exist or the money never reaches it.
Pressure tactics
Some scammers use high-pressure tactics to rush decisions. They claim that immediate action is important to secure a special deal or avoid penalties. They might even visit homes uninvited, using fear to push people into making hasty choices.
Being proactive about this topic may reduce an individual’s anxiety. By staying cautious, people can avoid these common estate planning scams and secure their futures.