- Report: #1395189
Complaint Review: Lodmell & Lodmell - Phoenix Arizona
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Lodmell & Lodmell
1631 E. Cheery Lynn Road Phoenix, 85016 Arizona, USA
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Lodmell & Lodmell Douglass Lodmell, Gary Lodmell, Douglas BRIDGE TRUST DOESN'T WORK Phoenix Arizona
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The Bridge Trust doesn’t work!
The Bridge Trust is simply a made-up term by a father and son law firm in Arizona named Lodmell and Lodmell.
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This is what they try to sell you on. Basically they form a domestic trust that doesn’t protect your assets very well for $23,000. Study the case law. Have you ever seen a domestic trust work? I have never seen one work. Judge's who rule for results rather than the law can take any assets that are in the US.
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Here is the next part of the scam. Then they will convert it into an offshore trust that does work well if you pay $7500 plus 1% of your trust assets.
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So, basically if you have $2 million of assets in the trust, it will cost you $23,000 to set up + $7500 to convert + $20,000 as a 1% fee = $50,500 total.
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Ask yourself this. What is the point of paying $23,000 for a trust that doesn’t work. Then you have to pay $27,500 more for in order for it to work?
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The fact that you have to convert it in order for it to work means they are admiting that their original trust doesn't protect you.
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Plus I know someone who set up this type of trust. The judge in the divorce case issued an order that they would not make any changes to the trust. So, there they were with, say, $23,000 invested in a trust that didn’t work.
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My opinion as a legal professional? Don’t EVER waste your money on a Bridge Trust. It is a made-up trademarked term by some small law firm in Phoenix that, in my view, is more of a marketing ploy than real protection.
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Even more, I went down to their supposed "office" in Florida at 3125 Fortune Way, Suite 4, Wellington, FL. It was an old car body shop. Are you kidding me? Seriously? Who are you trying to fool? An auto body shop! Look for yourself.
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And their “office” in Phoenix at 1631 E. Cheery Lynn Road Phoenix, Arizona 85016? It looks like some back alley ghetto in a low income residential neighborhood. Here you go. Look at the pictures. Hey, Google streetview the address for yourself if you want.
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Disclaimer. Just to be clear, there is not intent on my part to commit libel, slander etc. This isn't written to dissuade you from doing business with these people. There may be information that is inaccurate but I think that it is accurate. It is just my opinion based on my own research. The word scam does not mean that I think they are scamming you. It is just I word I chose to mean "tactic." Doesn't work mean I have not seen it work and I have seen similar trusts not work.
