Lawyers to the wealthy warn that AI legal advice comes with serious risks
Wealthy individuals are increasingly turning to AI chatbots for legal and tax advice, prompting concerns from their lawyers about misinformation, privacy risks, and the potential loss of attorney-client privilege. Lawyers report spending extra time correcting AI-generated errors and addressing client skepticism, while also warning that sharing sensitive information with AI systems could have serious legal consequences. Although AI can help clients understand basic concepts, legal professionals emphasize that it cannot replace personalized legal counsel and may inadvertently expose users to legal vulnerabilities.
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A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Lawyer Tasha Dickinson said she gets calls every week from clients asking about legal advice they got from ChatGPT, Claude or another artificial intelligence chatbot. Some don't admit it, but she can tell from their line of questioning, she said. One client, a high-net-worth Florida resident, asked Dickinson about creating a community property trust — an attractive option for married couples — saying he got the suggestion from AI to save on taxes for his heirs, she said.
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