From the National Consumer Law Center:
“Many older adults worry about what will happen to their property after they pass away. This process, often referred to as “estate planning,” can be very important but also very confusing.
One of the most critical choices you will face is whether to get a living trust, will, or both. There are many unscrupulous companies that will try to convince you that a living trust is the best way to go. This may be true for some. But for many, a living trust will simply be a waste of precious resources.
The process of estate planning can also be perilous. That’s because predators and unscrupulous sellers of financial products sometimes market estate planning products and services as a pretext to drain or steal older adults’ assets.
This fact sheet will give you basic information about living trusts and wills, and describes some of the most common scams.”
Read more here: Tips For Older Adults on Living Trusts.