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Estate Planning News
AG Sues Bellevue Estate Planning Companies; Asks Victims To Step Forward
Attorney General Christine Gregoire today filed a lawsuit against two Bellevue based companies for violating an agreement to stop engaging in deceptive estate planning sales tactics that target senior citizens.
The complaint against Senior Estate Legal Services, Inc. and Asset Preservation Group, Inc. alleges that Neil Adkins and John Cannon preyed on senior citizens by developing personal relationships in order to gain access to their financial information. The information then was used to press the victims into buying inappropriate or useless investment, estate planning and insurance products.
The Attorney General's complaint also asserts the companies provided legal services to consumers without license to practice law, charged consumers for services that were not provided, and failed to deliver products that were paid for, all violations of an Assurance of Discontinuance Order filed in King County Superior Court in 1996.
Both companies are managed out of the same office in Bellevue and are known to have operated around Skagit Valley, Yakima, Spokane, and possibly other areas in the state.
The Attorney General's Office is asking that anyone who has made transactions with the companies and has concerns to contact its Consumer Resource Center toll-free at 1-800-551-4636.
The lawsuit, filed in King County Superior Court, seeks consumer restitution and civil penalties of up to $2,000 per violation. Defendants in the suit are Senior Estate Legal Services, Inc. and its owner, Neil T. Adkins and Asset Preservation Group, Inc., and C. John Cannon., a sales representative for both corporations.
The costs and expenses of a conservatorship are paid by your estate
A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.
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The First Step In Estate Planning
Inventory everything you own and assign a value to each asset. Here's a list to get you started. You may need to delete some categories or add othe... Read more >
Definition:
A long recognized legal concept (first used in ancient Greece during the times of Socrates and Plato) in which some or all property of a Trust Creator is held on behalf of a beneficiary (which may include the trust creator) in the name of the Trustee.
Gross Estate
Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.
Devise
Definition:
A gift made by a will or a trust. A devise is made to a beneficiary under the terms of the will or trust.
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