Officials: Don't buy a living trust without a lawyer
MADISON, Wis. (AP) — A Wisconsin agency says consumers should use a qualified attorney to protect their interests when purchasing living trusts.
Living trusts help consumers administer their assets and transfer them to designated beneficiaries when they die.
The Wisconsin Department of Financial Institutions says living trusts are legal documents that should be developed and reviewed by licensed estate planning attorneys.
The department has received two consumer complaints this week involving an Eau Claire company selling living trusts. It has found no wrongdoing of the company.
Department spokesman George Althoff says senior residents and farmers are primary targets of living trust sales.