Unfortunately, there are people out there who prey on the citizens of Arizona, especially the aging generations, through financial and management programs. Learn about what a Phoenix Living Trust offers, signs of scams to watch out for, and when to establish a real Phoenix Living Trust.
In Basic Terms, What is a Phoenix Living Trust?
A Phoenix Living Trust is a legal pathway that is most commonly used to manage one’s estate. In a Phoenix Living Trust, the right to manage the property is held by someone known legally as a trustee. When others benefit from a Phoenix Living Trust, those people or organizations are known as beneficiaries. The creator of the Phoenix Living Trust may make their plans revocable, meaning it can be changed; they may also be mad irrevocable, meaning they cannot be changed. A Trust is meant to give the creator the power to designate how property is used, or how money is spent, and other details which go beyond a normal Will.
What is a Phoenix Living Trust Scam?
A Phoenix Living Trust scam is a trust established under false pretenses or offers benefits which do not exist. This might mean selling services to someone who does not need them or tricking people into signing over assets to a company or person without realizing it. Other scammers use the opportunity of establishing a Trust to convince the client that they need to purchase other financial planning products they don’t need.
Many scammers give themselves special designations such as “Veteran’s Advisor” to give the illusion that they specialize in uncommon practices or programs. If you have any concerns about the business or individual you are working with, contact state agencies about your apprehensions, check with the Better Business Bureau for verified accreditation, and always get verifiable references. Trusted and BBB accredited Phoenix Living Trust planning experts are able to advise you on the best path for estate planning and won’t offer you products you won’t need just to up their commission and fees.
Using a Phoenix Living Trust to Protect Your Estate the Right Way
When offered through a legitimate source, a Phoenix Living Trust can be a powerful tool to protect your estate and beneficiaries. Commonly, a Trust is needed when you own property in a different state than you resident, you are facing a medical condition which will render you unable to manage your assets, have concerns about privacy, suspect that your Will is going to be challenged after your death, or you have a beneficiary that is a frivolous spending risk.
Need Help?
If you are not sure as to what legal document you currently have contact one of our professionals to help you with your estate planning. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.
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