Category: Elder Financial Abuse

ATTORNEY NEWSLETTER Elder Abuse in Alameda County Most Reported Cases are for Financial Elder Abuse Elder abuse is a real problem in Alameda County and throughout California. Although elder abuse takes different forms (physical, financial, neglect, psychological, etc.), over 70% of reported cases in Alameda County involve financial elder abuse.  […]

ATTORNEY NEWSLETTER Understanding Immediate Annuities An immediate annuity is an insurance contract where the policyholder makes a single lump-sum payment and begins receiving back almost immediately regular income payments. Imagine, for example, you’re over 60 and sell your home and decide to put some or all of the proceeds into […]

ATTORNEY NEWSLETTER Understanding Riders in Annuities The Death Benefit Rider Sales Pitch Riders are endorsements added to annuity contracts sold to enhance the benefits payable under those contracts. There are several types of riders, two of the most common being income riders and death benefit riders.  We have written on […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Americans pump billions into complex fixed indexed annuities every year. Insurance agents push the annuities as a safe bet in volatile markets – they’ll tell you the policy offers the upside of market increases (the “indexed” part) with downside protection (the “fixed” part).  Advertised […]

ATTORNEY NEWSLETTER Life Insurance Churning Millions of older Americans have whole life insurance policies with accumulated cash value. Typically, they were sold those policies when they were much younger as a tax deferred savings vehicle, passing the accumulation on to their children when they died.  Some insurance agents spot these […]

ATTORNEY NEWSLETTER Long-Term Care Insurance Claims Long-Term Care Insurance has always been sold by agents to help you pay for care when, later in life, you are unable to take care of yourself. Insureds trusted the policies would cover the costs of assisted living care, skilled nursing facilities, and in-home […]

ATTORNEY NEWSLETTER Powers of Attorney and the Elderly A Power of Attorney (POA) is a very important legal document where the principal authorizes an agent to act on the principal’s behalf in business transactions and more. Someone with a Power of Attorney has legal authority to do things like transfer […]

ATTORNEY NEWSLETTER Fighting Harm to Senior Citizens Insurance agents and carriers target seniors for expensive insurance products like life insurance and annuities that charge high premiums and pay big commissions but are unsuitable for the senior’s financial picture and station in life. After the policies are in place, seniors find […]

ATTORNEY NEWSLETTER Seniors Beware of Deferred Annuities Deferred annuities are complicated insurance policies where the policyholder pays a premium today for a series of income payments in the future. Carriers and agents sell deferred annuities with fixed interest rates, variable rates, and in policies offering fixed and variable funds. All […]

ATTORNEY NEWSLETTER Fiduciary Rule No Longer Restraining Brokers Unfortunately, President Obama’s initiative to protect consumers from financial advisors who put their own interests before those of their clients has been destroyed by the current administration. Turning its back on consumers, the Trump Administration stalled and then rejected entirely the Department of Labor’s “fiduciary rule” […]