by Jeremy A. Wechsler, Esq.
Investment Advisor Representative
[email protected]
Back when I was practicing estate planning law full time, I saw too many people fall into easily avoidable scams. The nature of doing it yourself (DIY) prevails in a lot of us, including myself. I have seen plenty of DIY wills and estate plans, and the result is typically that the plan is perhaps at best partially complete, and at worst, inaccurate—or to use a less artful term: A ticking time bomb. While I have a variety of concerns about DIY estate plans, I want to zoom in more generally on problematic issues around estates. In particular, numerous scams that target well-meaning people trying to “get things in order.”
Below are a few of the schemes I see again and again, but they just scratch the surface. My advice: Always consult with an attorney when dealing with a legal matter. The attorney has the experience to help you and answer questions.
- The $250 (or more!) Tax Identification Number (TIN/EIN)
Let me be clear: Obtaining an EIN for a trust or estate is free. You can apply directly on the IRS website in minutes. Yet I have seen clients who’ve paid shady companies $200–$400 to “file” it for them. These websites look official, but they’re just charging you for something that costs nothing and takes five minutes. In general, be very cautious when using Google—particularly the “Sponsored Results” at the top. When I googled “EIN”, I received four illegitimate Sponsored Results all seeking to charge me before I found the legitimate IRS EIN Website result. - “Certified” Copies of Your Deed for $89.95
If you’ve ever received a letter saying you need a certified copy of your deed (or other deed related scam)—usually with language that sounds official and urgent—toss it in the trash. These notices prey on fear, making people think their property ownership is at risk unless they pay. In reality, you can get a copy of your deed directly from your county recorder’s office for a few bucks (or even free online in certain counties). In Bucks County, for instance, you can email the Recorder of Deeds through their website and request a free copy of your deed. - Unclaimed Property in PA: Don’t Pay Someone to Help
Pennsylvania’s Treasury Department holds a ton of unclaimed property—from bank accounts, to refund checks, to insurance proceeds. By using https://www.patreasury.gov/unclaimed-property, you can search and claim it yourself for free! I’ve had clients pay “finder” services hundreds of dollars or percentages of the funds to recover money that was already rightfully theirs, and easily accessible with a quick online form.
Bottom line? Estate planning isn’t just about writing a will—it’s about protecting yourself and your family from unnecessary risks, costs, and scams. Working with a qualified professional can save you and your family a lot of heartache (and cash) in the long run.
Scammers thrive on urgency and confusion. A good estate plan, on the other hand, clarifies your wishes, ensures you have a positive legacy, and the best part is you develop a relationship with a professional who can assist you in all of these matters so you are not left to fend for yourself.