Have you ever noticed how many warning labels are on things? As a child I always especially noticed the tag on the hair dryer because it addressed me directly: “Warn children of the risk of death by electrocution”. These warning labels are placed on products to protect the company from lawsuits from people who injure themselves with products, because the label warns consumers about potential risks or dangerous applications of the product. Many of the labels seem ridiculous with warnings such as “do not ingest” or “do not place near open flame”, but if the warnings were missing and you hurt yourself, you could sue the company for marketing a defective product!

The 1994 Safety Regulations on general product safety apply to both new and second-hand consumer products. Among the hundreds of products included are clothing, medicines, agricultural and horticultural products, DIY tools, food and drink, household goods, nursery goods, chemicals and pesticides, and motor vehicles. These rules require all suppliers of these goods to supply products that are safe when used in both normal and unusual-but-predictable applications. Taking into account all circumstances, if a product does not provide a reasonable level of safety it is considered a defective product.

A product that merely doesn’t work, but also does not hurt anybody, does not qualify as defective. You can return such a product to the manufacturer or pursue action under law of contract, but without being dangerous this broken product does not qualify for a defective product lawsuit. Other circumstances, like the warning labels, are also relevant to determining whether a product is defective or not. If there is a label warning you of electrocution, you can reasonably expect to be electrocuted if you misuse the product.

Despite the large number of warning labels out there, there are still a good number of products that either a) do not warn consumers of reasonable risks or b) suffer from potentially dangerous manufacturing flaws. Sometimes the company knows their product is dangerous and defective and sometimes they are unaware of the risks, but either way defective products place your life at risk. If you or your loved ones have been injured by a product, seek legal council to determine if the product was defective. Suing a company for a defective product can both resolve the pain you have experience and protect other consumers from dangerous products.
GA

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About the Author

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Some of you may be under the mistaken impression that I am an advocate for a revocable living trust in all situations. This is not true. I believe that using a revocable living trust should be decided on a case by case basis, considering the facts and circumstances of the specific case.

For example, let’s talk about my mother-in-law. This is a true story.

Back when I was in active practice, my mother-in-law didn’t want to ask me to work on her estate plan. She didn’t want to bother me. So, she went to one of the free estate planning and living trust seminars we often see advertised in the paper.

She got caught up by the sales pitch in the seminar (I think there was a discount if you signed up before the seminar was over) and paid for a revocable living trust, pour-over will, and health care and financial powers of attorney.

To her credit, she began to have misgivings after she received her set of “documents” so she asked me to look them over. I did. They were trash. I told her to contact the company and ask for an immediate refund. I told her to tell them I was an attorney and would take appropriate action if her money wasn’t returned. They gave her money back.

I then told her to go to the legal affairs office at the military base (she is retired military) and have them draw up a simple will along with the durable general powers of attorney for health care and financial decision making.

Given her relative young age (early 60s), estate, and family situation, I saw no need or benefit to a revocable living trust in her situation. A simple will was all she needed.

And it may be all you need.

So before you get wrapped up in the complexity and cost of a revocable living trust, seek out the advice of a competent, unbiased professional to determine what estate planning documents are appropriate in your situation.

Good luck and until next time,

Phil Craig

P.S. Feel free to forward this on to any friends.

Phil Craig is a licensed attorney and entreprenuer.
He started practicing law at age 25 in 1979.
He does not take on any more clients, but is
advisor to some of the biggest names in the internet
world. He shares his knowledge gained over the
last 25 years at his Living Trust Secrets newsletter site:
click here=========>http://www.LivingTrustSecrets.com

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