I was recently contacted by a local couple who had received a phone call from an Ohio based salesman claiming to represent a company that specializes in “asset protection” and “probate avoiding” techniques for seniors. The salesman spoke at length with the couple, over-exaggerating the expense, hassle, and legal fees associated with the probate process. The salesman’s solution? For the bargain price of $150.00, his company would draft a will and living trust to shield the couple’s assets from probate. Sensing something was amiss, the couple contacted me for a second opinion. I warned the couple they were most likely being “worked over” by a salesman for a “Trust Mill.”

Overwhelming debt fueled by a weak economy, a foreclosure crisis, and rising health care costs have forced many Americans to file for bankruptcy. The rate at which Americans over the age of 65 have been filing bankruptcy is truly alarming. According to the AARP, since the early 1990’s bankruptcy filings for adults over the age of 65 have increased by 150%. Bankruptcy filings for adults between the ages of 75 and 84 have increased by a staggering 433% over the same period.

If your opinion of your property’s value differs from the Property Appraiser's, you're not alone. Fortunately, you can fight City Hall, win, and save yourself money. Remember that a difference of $100,000 in the assessed value of your property could mean an additional $1,600 in annual tax savings. In a recent appeal, the County agreed to a reduction of over $900,000 in the value of my client’s property, for a savings of over $14,000.