The Estate Planners of America - Know this co.??

[Senora]

My grandma got a phone call today from this company (Estate Planners of America) offering estate planning assistance- that they would be in our area tomorrow- and if we wanted to schedule a meeting. Sounds good...

BUT...

After reading an article in the paper last week sometime- there was a story about a local guy- i think he manages a financial planning/ retirement service??
Anyways this guy was advertising alot for his free seminars on the bottom of the front cover of Midweek. Anyways the story said that he wined and dined a few clients and the guy scammed alot of money out a few seniors...

So Grandma feels they are all out to scam her.

Which I don't blame her, but there must be some legitimate companies out there that really do want to help seniors. Does anyone have any info on this company- Estate Planners of America- or dealt with them before???

Thanks

[Senora]

Re: The Estate Planners of America - Know this co.??

Here's a link to the above mentioned story about the guy scamming seniors.

http://starbulletin.com/2007/09/08/news/story03.html

[Miulang]

Re: The Estate Planners of America - Know this co.??

A search of the BBB records shows that the company started business in Hawai'i in 2000, but is not a member of the BBB. There have been 3 complaints registered about the business in the last 3 years.

It is licensed to do business by the State Insurance Commissioner.

Miulang

[tutusue]

Re: The Estate Planners of America - Know this co.??

My grandma got a phone call today from this company (Estate Planners of America) offering estate planning assistance- that they would be in our area tomorrow- and if we wanted to schedule a meeting.[...]

I've not heard of this organization which doesn't mean a damn thing, really! For all I know they could be reputable altho' the BBB gives this non-member an "unsatisfactory record". My guess is there might be a heavy push to sell annuities and long term care insurance. Was it a cold call? How did they get your grandma's phone number? If the answers are "yes" and "I don't know" then run the other way as fast as you can with your grandma in tow!!!

I completed estate planning earlier this year with a reputable, local attorney who is in private practice and who's name I got from my accountant of 25 years. I'd never give an unknown entity/person any personal information which is what estate planners need.

Just my 2¢.

[Ms_Aloha_Nui]

Re: The Estate Planners of America - Know this co.??

http://hbe.ehawaii.gov/cogs/search.h...state+planners

Take a look at this site...it's from DCCA....

[Senora]

Re: The Estate Planners of America - Know this co.??

Thanks everyone for your quick responses. The woman on the phone was somewhat pleasant- and didn't ask for any personal info-.
so the red flags didn't go up right away.

I thought maybe they were a community service org..cause they said it was free.

Seems like they are out to sell insurance and other stuff.


Glad that I posted here before committing to anything with that lady on the phone!

PS: Tutu Sue - could you PM me the name of your estate attorney, cause my grandma wants to update her documents and she has this horrible attorney who is taking more than 4 months to get papers processed for a land trust deed transfer. Thanks

[tutusue]

Re: The Estate Planners of America - Know this co.??

Senora...check your PMs!

[LikaNui]

Re: The Estate Planners of America - Know this co.??

my grandma wants to update her documents and she has this horrible attorney who is taking more than 4 months to get papers processed for a land trust deed transfer.

Never forget this classic line from "The Godfather":

"One lawyer with his briefcase can steal more than 100 men with guns."

Sad, but true.
Best of luck to you and your grandma!

[Adri]

Re: The Estate Planners of America - Know this co.??

Senora: Generally speaking, lawyers in Hawaii are not allowed to solicit clients directly face to face or via telephone and there are strict ethics rules about soliciting clients via print or mail. Hawaii lawyers are also not allowed to enter into partnerships with non-lawyers where the lawyer is doing legal work for others~ that is, a lawyer may work for an insurance company (in which case, the lawyer would be the lawyer for the insurance company and not anyone else) but cannot be a partner with an insurance company to sell insurance provided by the company and estate plans provided by the lawyer. A lawyer is not allowed "to do through a back door that which the lawyer cannot do through the front door" so the lawyer cannot use a company to directly solicit clients (via in person or telephone contact) for the lawyer if the lawyer cannot do such a thing by herself or himself (or solicit clients for both the lawyer and the company, as is the case with many "trust mills" where a company ostensibly has a lawyer to draft the estate plan or, in a worse case, "review" premade "fill in the blanks" estate planning documents provided by the company and the company sells products such as annuities or insurance. Those companies do not make their money from the estate plan, they make their money selling investments, annuities or insurance.

Good luck to your grandmother in finding a good, reputable estate planning attorney. Since your grandmother is an elder, your grandmother may also want to inquire as to whether her attorney is knowledgable about elder law issues and, if your grandmother thinks she may some day use it, medicaid. Most lawyers practice only in specific areas and not all estate planners handle medicaid, medicare, social security, long term care or other elder issues.

[GeckoGeek]

Re: The Estate Planners of America - Know this co.??

I would be very leery of anyone who contacted you (or your grandmother).

I have worked with Neal T. Nakamura and been satisfied by the experience. (Standard disclaimer - No financial interests, just satisfied customer.) I do think Estate Planning is a good idea. Especially if your grandmother has any significant assets like real estate.

[Adri]

Re: The Estate Planners of America - Know this co.??

Whichever attorney your grandmother picks, she should check with the Office of Disciplinary Counsel (sort of like the Better Business Bureau but for lawyers) to see if there have been any complaints filed against the lawyer.