Category: Elder Financial Abuse

ATTORNEY NEWSLETTER Agents Incentivized By Large Commissions You May Be Sold Something That’s Not Right For You Beware High-Pressure Sales Pitches And “Today-Only” Deals Insurance Agents and brokers receive a commission for annuity sales, which incentivizes an agent to sell you an annuity.  That incentive could lead an agent to […]

ATTORNEY NEWSLETTER Caregiver Allegedly Made 1500 Unauthorized Transactions Money Missing From Retirement, Checking And Savings Accounts Tens Of Thousands In ATM Withdrawals And Unauthorized Checks California seniors are estimated to have lost $15.9 billion to elder financial exploitation in 2020, affecting about 685,000 people, or 8% of California’s senior population.  […]

ATTORNEY NEWSLETTER Advisor Allegedly Withdrew Funds From Client’s Trust Authorities Discover 20 Fraudulent Letters Of Withdrawal Money Spent On Vacations And Luxury Cars Seniors may be financially exploited from pretty much any direction. Even trusted financial advisors of years may exploit elderly clients. Taking someone else’s money without their knowledge […]

ATTORNEY NEWSLETTER Annuity Fraud Targeted At Seniors Dangers Of Tying Up Your Money Remedies For Financial Elder Abuse Annuity fraud takes place when seniors are persuaded to purchase annuity products they do not want or need. Insurance agents push these products on unwitting seniors to earn commissions. Insurance carriers issue […]

ATTORNEY NEWSLETTER What Seniors Need To Know Do Not Be Pushed Into An Annuity Watch Out For Surrender Charges If you are a senior, someone may offer to sell you an annuity. Agents may be aggressive in sales tactics and try to pressure you.  Do not allow yourself to be […]

ATTORNEY NEWSLETTER Using A Power Of Attorney To Steal Abusers Revoke Prior Powers Recourse For Victims And Their Families Powers of Attorney (POAs) can cover financial matters and also health and personal care matters and medical needs.  The California Probate Code provides standard forms for both types of POAs.  See […]

ATTORNEY NEWSLETTER Caregivers, Strangers And New “Friends” Exploiting Seniors Taking Advantage Of Cognitive Impairment Protecting Seniors From Financial Exploitation Unscrupulous caregivers, new “friends,” and complete strangers may all exploit seniors financially.  The means vary from straight theft of cash or checks, forgeries, and identity theft to more elaborate (or harder […]

ATTORNEY NEWSLETTER Agents Target Seniors With Unsuitable Deferred Annuities Withdrawal Penalties And Taxes On Surrenders Avoid Expensive Exchanges Or Switches Of Policies Agents push deferred annuities for senior consumers because sales generate substantial commissions.  Evans Law Firm, Inc. recommends seniors avoid deferred annuities, based on years of representing older consumers […]

ATTORNEY NEWSLETTER Neighbor Allegedly Manipulated Elder’s Trust To Become Beneficiary Court Awards Double Damages Deceased Victim’s Niece Brought Trust Contest Californians create trusts to avoid probate expenses and delays at their death and provide for management of their assets if they become incapacitated.  Trusts are a good way to protect […]

ATTORNEY NEWSLETTER Five-Year Scheme Targeted Retirees $25 Million In Losses To More Than 300 Victims Financial Advisor Sentenced To 35 Years In Prison Unscrupulous financial advisors, insurance agents and retirement planners (among others) often target seniors with their fraudulent schemes.  Typically, the approach is to offer a senior an investment […]