Category: Elder Financial Abuse

ATTORNEY NEWSLETTER What are the types of financial powers of attorney? Financial powers of attorney can be either a durable power of attorney which is effective immediately upon execution or a “springing” power of attorney which is effective immediately upon the incapacity of the principal.  The basic POA form is […]

ATTORNEY NEWSLETTER What is caregiver fraud? Caregiver fraud is a recurring form of financial elder abuse perpetrated on seniors by dishonest in-home caregivers or caregivers working in assisted care and skilled nursing facilities.  The fraud tends to start out relatively small – theft of a small amount of cash or […]

ATTORNEY NEWSLETTER Are there annual fees insurers charge in universal life insurance policies? Yes.  Most insurance carriers charge certain fees and expenses in each policy year of a universal life insurance policy.  Sometimes these fees are referred to as cost of insurance (“COI”) or mortality rates or similar names.  COI […]

ATTORNEY NEWSLETTER What’s the problem with a free steak dinner or lunch? Insurance carriers, marketing groups and agents are creative in the ways they sell life insurance and annuity products to senior citizens.  One recurring example is the free lunch or free steak dinner invite.  A free meal is always […]

ATTORNEY NEWSLETTER What is financial elder abuse? California broadly defines what constitutes financial elder abuse: (a) “Financial abuse” of an elder or dependent adult occurs when a person or entity does any of the following: (1) Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult […]

ATTORNEY NEWSLETTER What is a deferred annuity? Deferred annuities are life insurance contracts where the policy holder makes an upfront premium payment in exchange for an income stream in years to come.  The concept sounds simple enough but in fact deferred annuities, like fixed indexed annuities, are extremely complicated life […]

ATTORNEY NEWSLETTER What is a financial power of attorney? Financial powers of attorney (POAs) grant full authority over a person’s financial affairs. The form for financial POA is found in California statutes. See Cal. Prob. Code §§ 4401 et seq. (statutory form for financial POA). A financial power of attorney […]

ATTORNEY NEWSLETTER What is financial elder abuse? California broadly defines what constitutes financial elder abuse: (a) “Financial abuse” of an elder or dependent adult occurs when a person or entity does any of the following: (1) Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult […]

ATTORNEY NEWSLETTER What is a deferred annuity? Deferred annuities are contracts where the policy holder makes an upfront premium payment in exchange for an income stream in years to come.  Are deferred annuity policies complicated? Yes.  While the concept of deferred annuities sounds simple enough, deferred annuity policies, like fixed […]

ATTORNEY NEWSLETTER What is financial elder abuse? California broadly defines what constitutes financial elder abuse: (a) “Financial abuse” of an elder or dependent adult occurs when a person or entity does any of the following: (1) Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult […]