SE HABLA ESPAÑOL
by: Jeremy Rachlin
2024
by: Jeremy Rachlin
Category: Client Alert, Estates and Trusts
Last month, my wife and I signed our own trust.
Just like nearly all of my clients who create trusts, my wife and retitled our home into our trust.
In retitling our home into our trust, we signed a deed conveying title to the property from our names to the trust’s name. This deed was then recorded in Montgomery County land records.
And then, the letters started coming…
Companies began contacting us with letters stating that they could help us obtain important information about our property.
We received at least three solicitations in the mail that we can recall (others we may have thrown out without opening). All looked very important with grave disclaimers printed on the outside of the envelope. These were official communications regarding legal documents.
When we opened the envelope, inside was a solicitation. Pictured here is one of the actual solicitations (redacted).
This solicitation, and all of the others, offered us critical information about our property, including tax information and a certified copy of our deed.
The amount being charged was always just small enough to be a cost easily digested by somebody who had just paid a substantial sum to have a trust prepared and deed recorded.
First, there is little to no reason why the information that is being offered in these solicitations would be necessary.
But know that if you ever need the property information offered in the solicitation, this information is easily accessible to Maryland or District of Columbia residents at little to no cost.
Maryland Residents
District of Columbia Residents
Since raising this point with other friends and even some clients, I have learned that I am not alone in receiving these direct mail solicitations.
I have also learned that these solicitations should be expected any time you record a deed into a home. This means that you are likely to receive a similar solicitation even if the deed you recorded has nothing to do with creating a trust—for example, simply purchasing your residence.
A $125 fee doesn’t seem like much. But given the sheer volume of deeds that are recorded, it can be a substantial windfall for these companies. And given the free availability of the information provided, the fee is pure profit for companies that prey upon consumers’ fears of not having information key to their most valuable investment—their home.
If you purchase a home or retitle your home into a trust, on the advice of counsel, feel free to ignore these solicitations.
If you have questions about estate planning or want to share your own experience with a legal scam that others should know about, please contact attorney Jeremy Rachlin at (301) 656-1177 or jrachlin@bulmandunie.com.
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