Antelope Valley Estate Planning Law Firm Warns Consumers About Living Trust Mills

Lancaster, CA (PRWEB) December 9, 2008 -- Antelope Valley Estate Planning law firm Thompson Von Tungeln warns consumers about "Living Trust Mills," a scheme where salespeople posing as "living trust experts" sell annuities or other investments under the guise of helping with an individual's living trust.

Usually preying upon senior citizens through home visits or through free seminars in churches, assisted living centers and other places where seniors gather, these sales people use the financial information shared with them by unsuspecting consumers to frighten these people into thinking that their current investments are inferior and riskier than the ones the salespeople are selling.

The salespeople then meet with the person again to deliver the living trust documents and complete the transfer of the consumer's financial assets from the previous investment vehicles to the new ones sold by the salespeople.

"What frequently happens with these 'Living Trust Mills'," said Mark L. Thompson, partner in Thompson Von Tungeln and certified specialist in estate planning who focuses on elder law, "is the unsuspecting consumer gets back a living trust that could be invalid, causing lasting damage to their estate plan. And then find they had a huge tax penalty due to transferring their assets to the salespeople's products, leaving fewer dollars to their heirs." Beware of any seminar or advertisement that includes language like "A licensed insurance agent may contact you." This is a red flag that you are likely dealing with a Living Trust Mill.

When reviewing an estate plan, Thompson advises that consumers consult a licensed attorney, preferably a certified specialist in estate planning and trusts.

About Mark E. Thompson

With more than 30 years' legal experience, Mark E. Thompson serves Thompson Von Tungeln in the areas of estate planning, probate, trusts, wills, trust administration, conservatorships, guardianships, and elder law. He is certified by the State Bar of California Board of Legal Specialists as a Board Certified Specialist in Estate Planning. In addition to his legal work, Thompson also serves with many other community organizations.    

About Thompson Von Tungeln

Antelope Valley estate planning law firm Thompson Von Tungeln (TVT) offers sophisticated estate planning and administration for the affluent, discriminating client. As Board Certified Specialists in Estate Planning, Trusts and Probate as certified by the State Bar of California Board of Legal Specialization, partners Mark E. Thompson and Kevin L. Von Tungeln are expertly equipped to serve these clients with the creative, effective and custom solutions they demand. For more information, contact TVT at 661-945-5868 or visit their website at www.EstatePlanningSpecialists.com

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