On July 17, 2013

We know what a Puppy Mill is but what is a Trust Mill? We have heard many horror stories about puppies being bread in horrid conditions and churned out as fast as the breeder can push the mother. This leads to dogs that are problematic down the road because of health problems and other issues. In the same way trust mills don’t take the time to produce a quality product that you or your family will be happy with.

Speaking from personal experience, in trust mills clients are rushed through a process that requires more time and thought than what is allowed and the results are often confusion, misconception, and ineffective documents. Can everyone use a trust? Yes. Is a trust the best choice for everyone’s Estate Planning needs? No. One of the sure signs that you have stumbled into a trust mill is a lack of exploratory questioning to see what your needs are, what your goals are and what the best fit is for you and your assets. While you can overanalyze your eventual mortality and try plan for every scenario, there still has to be thought and effort put into the process to plan for the majority of scenarios. A good estate planning attorney will not only walk you through the front end process, but will take the time and make sure you understand exactly how your trust or will works when you sign it. With my own experience when I asked my in laws about how their plan was set up they were really unable to tell me and were confused on a lot of the details. These are intelligent people who got the silver tongue sales job and were left with more questions than answers.

Some of the tactics used are limited time discounts. Usually buy today and get $500 or 15% off. This is so you won’t have time to shop the price around. You can pay too little as easily as you can pay too much. Getting that pure breed dog at less than ½ of what everybody else charges tends to cost you more in vet bills and heartache down the road. Another tactic is to tell you probate needs to be avoided because it will cost you so much money and it is difficult to navigate your way through. In some states this is absolutely true but in Colorado probate is and acceptable process that works for many people.

Don’t get talked into something you don’t really need. Get the truth about trusts and wills from an attorney you can trust.

Categories: Trusts

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