Here, the DUI ads are there, but probably not even 1%. I can't remember ever seeing a will/trust type TV ad. There are a couple of lawyers who peddle the ready-made "living trusts," which make no sense in AL, where the probate process is fast and inexpensive. (This is certainly not true in all states.) They seem to sell the instruments by the pound - the thicker, the more expensive the trust. Not surprisingly, the guys selling these trusts almost never have any real knowledge of trust law, particularly not the taxation ramifications. (My master of laws is in taxation from NYU.) Oh well, I need to get off the rant box...
One of the biggest advertisers in my area, outside of the local yocals, is Legal Zoom. Yo cannot watch ANY program on one of the networks w/o those bothersome and IMHO dubious value services. Here in OK the Living Trust is the way to go as probate is an unholy mess. Here is your first legal question here, what do you think of and is there any value to those mail order NFA trusts?
Wake Up...Grow Up...Show Up...Sit Up...Shut Up...Listen Up
Well, I'll take your word for it on OK probate. I will say that "difficult probate" is frequently just a fiction to promote the sale of these trusts. There are two primary areas of problems which the trusts can cause. One frequent one is "leakage" of assets out of the name of the trust, so that there has to be probate after all. Another, and I have a case right now with this problem, is the trustee doesn't follow the terms of the trust - doesn't account, etc. In probate court here, it's easy and cheap to haul a Personal Representative into court and make him account. With a living trust, here we're immediately into a circuit court (our primary court of general jurisdiction) litigation. At a minimum, the attorney's fees could easily run $10-15K. On mail order, it makes my hair stand on end. You wouldn't believe the errors, wildly inappropriate terms, etc. I've seen over the years. The "Legal Zoom" guy doesn't believe a word he's saying. I hate to see him sink to this at the end of his career...
Thanks for the NFA information. I always believed the Legal Zoom guy was a bottom feeder that could not get any lower since he started at the bottom and stayed there.
Wake Up...Grow Up...Show Up...Sit Up...Shut Up...Listen Up