Bilking Seniors Washington Times (08/03/00) Vol. 75, No. 7 p.B9; Carter, Janelle
Senior citizens are often being misled by salesmen
looking to sell them worthless living trusts. Lawmakers have
determined that many older citizens do not even realize the
trusts they have established are draining them of thousands of
dollars. The Senate held hearings several weeks ago on whether
federal action should be taken concerning these cases.
Government officials have found evidence that those citizens with
modest means are being sold high-priced packages. More often
than not, a salesman's materials will say that they are endorsed
by the government. In reality, the government does not endorse
any company that sells or markets living trusts.