If you're age 50 or older, you should take special care when buying living trusts. Your age group is often a special target of salespersons whose goal is to sell you something without carefully analyzing your needs.

It's easy enough to become a victim. Living trust sales are a growing area of consumer fraud. Con artists make millions of dollars every year selling unnecessary trusts. Each year, thousands of consumers lose from $500 to $5,000 through the purchase of living trusts. Often, families face potentially greater costs after the consumer's death, resulting from problems resulting from the trusts.

How do I protect myself?

• Take time when making your decision.
• Do not fall victim to high pressure, "act immediately" sales tactics.
• Seek the advice of someone trustworthy and knowledgeable.
• Contact your accountant, estate planning attorney, banker, or financial advisor.

For more information regarding Living Trust Scams: Contact AARP ElderWatch