Family Matters: Unmasking Probate Fraud
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In this episode, we address a growing concern regarding probate fraud scams, particularly within families. If you've experienced the loss of a loved one or are part of an estate distribution process, this episode provides crucial information on how to safeguard yourself and ensure fair distribution of assets.
Key Points:
- Understanding Probate Fraud:
- Many families face issues where relatives steal from one another after the death of a family member.
- Common scenarios include relatives diverting assets or placing older relatives into conservatorship to gain control over their finances.
- Steps to Protect Yourself:
- Appoint a Trustee:
- Ensure there is a designated trustee for the estate, documented in writing.
- The trustee should be bonded for additional security.
- Regular Updates:
- Request monthly updates from the trustee regarding the distribution of assets, including bank accounts, real estate, vehicles, and stocks.
- Follow up with relatives about the status of assets; lack of transparency is a red flag.
- Appoint a Trustee:
- Understanding the Economic Context:
- Economic challenges and inflation have led to increased desperation among younger generations, potentially leading to unethical behaviors regarding estate assets.
- Identifying Potential Fraud:
- Be vigilant for relatives attempting to take more than their fair share based on perceived financial need.
- Adhere to the deceased’s wishes regarding asset distribution to honor their legacy.
- Conducting Asset Searches:
- Perform a thorough asset search to ensure all properties and belongings are accounted for.
- Look for any recent changes in ownership or hidden assets, including life insurance policies and retirement accounts.
- Dealing with Conservatorship:
- Investigate who benefits from a relative’s conservatorship and ensure accountability in asset management.
- Taking Action:
- Don’t allow relatives to take assets without proper authority.
- Utilize resources and consult with experts to navigate potential fraud and ensure rightful distribution of assets.
Resources:
- For more information on asset management and fraud prevention, visit ActiveIntel.com.
- To book a live consultation with a licensed investigator, visit our website for details.
Call to Action:
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