If you have not received a notice in the mail that looks like the above scams, Recorded Deed Notice, you probably will at some point. Consequently, it usually appears in your mail after a new property purchase, refinance, or deed transfer to a Living Trust.

As with most scams, the notice appears legitimate as if from a government agency (it isn’t), is “urgent,” and it requests a fee. Therefore, under no circumstances should you pay this fee. You can also report the scam to the Federal Trade Commission (FTC) or call 1-877-FTC-HELP.

Tax Season Scams

It’s that time of year. Time to file your tax return and be aware of bad actors looking to steal your money.

From IRS impersonations, bogus charities, and identity theft, here is a link to the IRS Dirty Dozen scams.

The Most Common Financial Scams of 2026

They said it was coming, and now AI is everywhere.

While it can be a convenient and useful tool for research and information, AI has become so realistic that it impersonates grandsons’ voices on calls to grandparents and gets them to make payments. Indeed, that isn’t all.

The financial loss per scam victim is estimated at nearly $10,000, totaling more than $12.5 billion in losses nationwide.

Therefore, from AI-generated human-voice calls from your bank to app refunds from Zelle and PayPal, and from subscription renewals to emergency text scams, it is essential to always be on guard.

Never share logins, PINs, or financial information.
Stop and call the financial institution or vendor.
Block the number.
Ask a trusted family member or friend.
Report suspected fraud to the FBI Internet Crime Complaint Center (IC3).

Stay safe and secure!

Your Living Trust

At the end of your life or if you become incapacitated, your real estate, financial accounts, firearms, and other assets held in your name may need to go through probate.

A Will is filed in probate. The rule is that no one can legally sign on your behalf. Therefore, all assets in your name are subject to the probate process, which averages 18 months and is costly.
A Living Trust completely avoids probate. An AB Living Trust protects up to $8 million of an Illinois estate from Illinois estate taxes.
Your financial accounts, life insurance policies, and deferred compensation accounts can name your Living Trust as the beneficiary, subject to essential tax considerations.
A Living Trust estate plan includes Health Care and Financial Power of Attorney documents. It also includes a Last Will and Testament. A Will is necessary for the guardianship of minor children and for transferring assets in your name out of Probate.

Learn more about Tom Tuohy

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TomTuohy.com
312-559-8400
17W220 22nd Street
Oakbrook Terrace, Illinois, 60181

This blog entry is for information and planning purposes. Therefore, it is not legal advice. Please do not use this blog as a substitute for legal advice, which depends on specific facts and laws in a particular jurisdiction. No reader of this blog should act or refrain from acting based on any information included in, or accessible through, this blog without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the reader’s state, country, or other appropriate licensing jurisdiction.

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