Category: Elder Financial Abuse

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 […]

ATTORNEY NEWSLETTER Caregivers and Financial Elder Abuse Keep Checks, Credit and ATM Cards, Valuables and Important Papers in a Safe Place Accessing Your Bank Accounts Whenever a stranger is in an elderly person’s home, the senior’s identity, valuables, credit cards, bank accounts and important papers are all at risk. Unscrupulous […]

ATTORNEY NEWSLETTER How Insurance Agents Financially Exploit Seniors Unscrupulous insurance agents can really wreak havoc on a senior’s finances. Agents prey on seniors’ anxiety over income security in a drive to sell commission-generating annuities and life insurance, including whole life, universal and equity-indexed policies.  In that drive for commissions, agents […]

ATTORNEY NEWSLETTER Elder Abuse by Caregivers Elder Abuse and Neglect can be Deadly Caregiver abuse of the elderly can be deadly. In a recent California criminal case,[1] law enforcement arrested a 62-year-old woman on charges of suspected elder abuse.  The woman was allegedly the caregiver and girlfriend of an 80-year-old […]

ATTORNEY NEWSLETTER Beware Annuities, Whole Life and Equity-Indexed Life Insurance  Consider the Drawbacks and Downsides Insurance agents and financial advisors push annuities and whole and equity-indexed life insurance as part of retirement savings plans, particularly on seniors or persons getting close to retirement and concerned about future income levels. Beware.  All of […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses and Other Downsides Insurance agents and financial advisors use the current volatile stock market environment to push fixed indexed annuities, particularly on seniors or persons getting close to retirement and concerned about future income levels. Industry reports say sales are up. Products […]

ATTORNEY NEWSLETTER FINRA Bars Broker for Unsuitable Advice, Unethical Conduct and Financial Exploitation of Senior The Financial Industry Regulatory Authority (FINRA) polices financial advisor fraud and financial elder abuse including financial exploitation of seniors, unethical conduct towards them, and recommendations of unsuitable investments. The Marin financial elder abuse and annuity […]

ATTORNEY NEWSLETTER Keeping Retirement Savings for Yourself Avoid Deferred Annuities With Fees and Surrender Charges The closer you get to retiring the more you try and save for the future. While saving as much as you can is important, where you put those savings is equally important. Insurance agents, financial […]

ATTORNEY NEWSLETTER Caregivers and Physical and Financial Elder Abuse Caregiver abuse and fraud on the elderly are real risks for seniors requiring in-home or institutionalized care. Caregiver abuse may include physical and emotional abuse and financial elder abuse or fraud.  In a recent California case[1] of physical elder abuse by […]