Category: Financial Exploitation

ATTORNEY NEWSLETTER Brokers Exploit 79-Year-Old Client With Dementia How To Protect Your Senior Loved Ones The Financial Industry Regulatory Authority (FINRA) is the agency that polices stockbrokers and brokerage firms for compliance with laws meant to protect clients, including seniors, from fraud. In one recent case[1], FINRA permanently banned a […]

ATTORNEY NEWSLETTER Agent Hype Covers Up Downsides Know What’s In The Fine Print Annuities pay big sales commissions to agents. Carriers in turn design new products so agents have more inventory to pitch. Fixed indexed annuities are currently the hottest and most over promoted product in the annuity world. Agents […]

ATTORNEY NEWSLETTER Surviving Spouses Prey to Caregivers and Others How to Protect Your Children and Ensure They Inherit the Family House Consider Life Estates Sadly, there’s a repeating pattern of caregivers and others getting their hands on a senior’s property after a spouse of many years passes away. Isolated seniors […]

ATTORNEY NEWSLETTER The Pitfalls of Reverse Mortgages Problems for Surviving Spouses “Reverse mortgages are just a terrible idea for seniors, unless they have no other options.” That’s what our own Ingrid M. Evans recently told a reporter for realtor.com covering a story of a 79-year-old widow who may lose her […]

ATTORNEY NEWSLETTER Annuities Are Inherently Costly and Complicated Tying Up Your Money for Long Periods is Risky Industry reports say sales of annuities are up. That is not good news for consumers. These insurance products are costly, complicated, and risky and tie up your money for years, hostage to penalties […]

ATTORNEY NEWSLETTER Annuities Are Inherently Costly and Risky Another Risk: Carriers Sell Annuities Industry reports say sales of annuities are up. That is not good news for consumers. These insurance products are costly, complicated, and risky and tie up your money for years, hostage to penalties if you need to […]

ATTORNEY NEWSLETTER Preventing Financial Exploitation of Seniors Legislature Considers Expanding List of Mandated Reporters of Financial Elder Abuse The California Elder Abuse and Dependent Adult Civil Protection Act mandates reporting of suspected financial abuse of an elder or dependent adult.  Cal. Welf. & Inst. Code § 15630.1.  A recently introduced bill in the California […]

ATTORNEY NEWSLETTER Guggenheim Partners/Security Benefit Life Insurance Company Total Value Annuities (TVAs) The life insurance and annuity attorneys at Evans Law Firm, Inc. represent clients who have suffered losses on all types of life insurance and annuity contracts, including indexed annuities and equity indexed universal life insurance. Indexed annuities are […]

ATTORNEY NEWSLETTER Preventing Financial Exploitation of Seniors Older persons control more than 70 percent of U.S. disposable income. Many also have sizeable retirement savings.  As a result, older Americans are targets for insurance agents, financial advisors and investment planners with products to sell.  Many of those products, particularly ones like […]

ATTORNEY NEWSLETTER Understanding Risks and Downsides Insurance carriers and agents and financial advisors push life insurance in any form: term life insurance, whole life insurance, and universal life insurance. Whole life insurance and universal life insurance pay higher commissions than term life insurance (the premiums are higher too) so pay […]