ATTORNEY NEWSLETTER Financial Elder Abuse Alleged Over A Ten-Year Period Victim Sold 23 Annuities Over 10 Years Suspects Allegedly Isolated Victim From Family And Friends Isolation of older persons is a common theme in cases of financial elder abuse.  Another common thread is when a stranger convinces a senior to […]

ATTORNEY NEWSLETTER Annuity Scams Targeted At Seniors Annuity Fraud On average, a senior victimized by financial elder abuse loses over $140,000. That level of monetary loss is devastating.  Unscrupulous insurance agents are among the financial predators on seniors, selling them unsuitable annuities and life insurance that line agents’ pockets with […]

ATTORNEY NEWSLETTER Unsuitable Sales, Improper Exchanges, High Fees, Tying Up Your Money Seniors Beware Unscrupulous advisors and insurance agents, hungry for commissions, push annuities on seniors worried about income levels for their later years. The sales pitches rev up as markets turn volatile and promises of guaranteed rates sound good. […]

ATTORNEY NEWSLETTER  Fiduciary Rule Impacts Annuity Sales Putting You First Makes A Difference   The Department of Labor’s (DOL) long-awaited “fiduciary rule” took effect earlier this year and is sending annuity sales way down.  Simply put, the rule requires financial advisors to put your interests first and industry authorities agree […]

ATTORNEY NEWSLETTER IOVAs: Investment Only Variable Annuities What are IOVAs and How Do They Work? Tax deferral is the key to successful retirement savings. IRAs, 401(k)s, SEPs and the like offer deferral but annual contribution limits are relatively low for high earners. Annuity carriers offer another possibility. Investment Only Variable […]

ATTORNEY NEWSLETTER Understanding Income Riders Income Riders Flood Annuities Market A flood of new income riders on annuities partially explains a recent boom in sales. Annuity sales hit a record $203 billion last year. Before you climb abroad this fast-moving train, make sure you understand what annuities are, what income […]

ATTORNEY NEWSLETTER The Downsides of Annuities Annuities Low interest rates are good if you’re young and need to borrow, but they’re not so good if you’re older, past your borrowing days, and looking for higher income in retirement. Some of us remember grandparents enjoying double-digit CD returns in the late […]

ATTORNEY NEWSLETTER Life Insurance Surrenders: The Tax Consequences Surrendering Life Insurance Whenever an insurance agent starts talking about surrendering or “changing” or “replacing” your life insurance policy, remember one important thing if nothing else: there will be tax consequences. We here at Evans Law Firm are not tax attorneys but […]

ATTORNEY NEWSLETTER Bank Broker Suspended and Fined for Mishandling Variable Annuity The Case Recently, a broker at a national bank was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for a year and a half after alleged wrongdoing. The broker allegedly put his wife on his client’s variable […]

ATTORNEY NEWSLETTER Hidden Charges and Penalties in Annuities Are you someone who purchased an annuity while over the age of 60 in the State of California during the past year? Have you suffered from surrender charges due to that annuity? Many people have. And often senior purchasers of annuities are […]