When it comes to estate planning, you seek to safeguard your hard-earned assets. However, scams lurk in the shadows, preying on the unsuspecting.
It is important to be vigilant against schemes that can hurt your financial well-being. Part of this includes shedding light on some common estate planning scams that could undermine your efforts to plan for the future.
Phony charitable giving programs
Some people may promote fake charitable giving programs. These scams often involve high-pressure tactics to convince you to donate large sums of money.
To protect your assets, thoroughly check any charity before making contributions. You should make sure they are legitimate and align with your goals.
Fraudulent inheritance schemes
Fraudsters may claim distant relatives or unknown benefactors have left you an inheritance. These scams typically involve requests for personal information or upfront fees for the inheritance. Validate any inheritance claims through official places to help avoid this problem.
Unscrupulous financial advisors
While many financial advisors operate ethically, some exploit their positions to lie to clients. Shady advisors may recommend bad investments or financial products with hidden fees. Verify their credentials before spending your money.
Fake estate planning seminars
Fake estate planning seminars could promise exclusive insights and strategies. Some scams lure you into attending these events. Then, they use high-pressure sales tactics to sell you unnecessary services or products.
With the real median household income in America at $74,580 as of 2022, using your money wisely and creating an estate plan you love is important. Remember that knowledge is your greatest defense against those seeking to exploit your commitment to securing your family’s future.