Living Trust Mills
A living trust mill is an illegal bait-and-switch scheme used to sell annuities to seniors. While living trust schemes vary, they all have some things the common:
- Each misrepresents the actual business of the sales representative and true purpose of the solicitation.
- The initial approach may be to solicit senior citizens at "seminars," purportedly for educating seminar participants about the benefits of living trusts and other estate planning devices.
- The approach may be through mass mailing, telemarketing, door-to-door solicitation, or even while providing entertainment at senior-related functions.
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