The Preservation Group to refund $40k to seniors who bought living trusts

The Preservation Group to refund $40k to seniors who bought living trusts
The Preservation Group to refund $40k to seniors who bought living trusts

More than 60 Washington seniors who paid for living trusts will receive refunds under a settlement reached between the Washington Attorney General's Office and The Preservation Group.

The atty. gen.'s office accused the Arizona-based company and its owners, Kevin D. Boterman and Robert J. Feinholz, of violating the state's Estate Distribution Documents Act, which prohibits anyone who's not a licensed attorney from marketing living trusts, a simpler way to pass on inheritances without going to probate court, or wills.

The Preservation Group marketed its services by holding informational seminars in the community and then scheduling appointments with seniors in their homes, according to the state's complaint. The seniors were told about the benefits of a living trust and disadvantages of probate, according to the state. Boterman and Feinholz allegedly misrepresented the complexity of the probate process in which the court supervises the transfer of property to a senior's heirs.

Convinced they had no other choice, seniors paid the company between $2,195 and $2,995 for a living trust. They also provided detailed personal and financial information to the company, which used it to make more sales pitches about additional services such as annuities and insurance, according to the complaint.