Tanglewood Park to host State Bar seminar on warning signs of estate planning and annuity scams

Tanglewood Park will host the State Bar of Michigan seminar presented by the State Bar of Michigan Unauthorized Practice of Law Committee, in partnership with members of the SBM Elder Law and Disability Rights Section and the SBM Probate and Estate Planning section entitled “A Living Trust Education Inititive: Who Should You Trust?” The SBM is taking this initiative to fifty-one Michigan Counties beginning August 6, 2014.

Tanglewood Park is located at 560 Seminole Road in Norton Shores and the seminar will be held in the Tanglewood Park training room. The public education, seminar,  and estate planning information are free to the attendees.

The seminar will provide essential estate planning information and the warning signs of deceptive annuity sales practices that could potentially jeopardize your economic stability. Attend the State Bar of Michigan’s free seminar to gain empowerment in making estate planning decisions.

During the presentation you will be educated on how to identify and avoid “Trust mill” scams. These scams tout the benefits of a “trust-based” estate plan irrespective of specific needs and make exaggerated statements about the probate administration process to create a seemingly convincing story on why a “trust” funded with an annuity is the only good estate planning choice.

The annuity’s long-term investment requirements, the hefty penalty for early withdrawals, and the salesperson’s commission are typically buried in the paperwork. The percentage-based commission provides substantial incentive for the annuity sales person to quickly close the deal. These aggressive annuity sales tactics have also been effectively used against veterans applying for Veteran Affairs benefits. Come to this seminar to become aware of these sales tactics used to gain access to you and your hard-earned savings.

It is important to make sure that the person giving you estate planning advice is a licensed lawyer concerned about your best interests and last wishes and not about making a commission on a sale.  If you already have an estate plan in place, this seminar will help you to gain peace of mind that you can ignore solicitation from non-lawyers suggesting that something more is needed.

Atend the seminar to avoid becoming an unsuspecting victim and receive a specially-designed folder containing essential estate planning information and easy-to-remember reminders of warning signs of trust-based estate planning and annuity scams.

For more information, contact the State Bar of Michigan Professional Standards Division Paralegal Amy Emmons at (517) 346-6343 or email aemmons@
mail.michbar.org.