"It should go without saying that when you are looking for an attorney to set up your estate plan, especially if you have children you want to pass along money or possessions to, you need to feel absolutely comfortable that whatever documents are set up are done with your best interest in mind. There is no question that what this original lawyer did to this Redditor is both morally and ethically wrong."
"According to the Redditor's post, this individual sought out a lawyer in California and, being unfamiliar with trust law, was convinced to sign documents that allowed the lawyer's wife to be named as a co-trustee. The sheer number of alarm bells this should have rung for the Redditor is unmistakable, but somehow, they were convinced to go along with everything, and now there is a trust that allows the lawyer's wife to be the co-trustee with their daughter."
An individual in California sought a lawyer to set up an estate trust and, being unfamiliar with trust law, was convinced to sign documents naming the lawyer's wife as co-trustee alongside the individual's daughter. The arrangement grants the lawyer's wife rights to the individual's personal property and entitles her to paid compensation for executing the trust after the individual's death. The situation creates a clear conflict of interest and ethical violation by the attorney. Immediate steps advised include revoking the trust, obtaining new estate documents from an independent attorney, and reporting the lawyer to the California licensing authority. Careful selection of estate counsel is essential.
Read at 24/7 Wall St.
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