There is no free lunch: Understanding and preventing estate planning fraud.
Financial planners are expected to oversee all facets of their clients’ financial affairs, including estate planning. With estate planning fraud on the rise, financial planners, as well as their clients, are exposed to potential trouble. Education of and awareness by financial planners and their clients lies at the heart of preventing this fraud from occurring in the first place. This article provides a tutorial on the basics of wills and trusts, presents red flags that financial planners can use to identify possible fraudulent situations, and offers advice on how to avoid professional liability with regard to estate planning fraud.
Academy of Business Education
Schmidt, M., & Stowell, N. F. (2018). There is no free lunch: Understanding and preventing estate planning fraud. Journal of the Academy of Business Education, 19, 52-69.
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